Gap jumps after better-than-expected Q2 earnings, raises FY26 EPS guide
Gap shares rose 15.2% after the retailer reported better-than-expected second-quarter earnings and lifted FY26 adjusted EPS guidance to $2.35 to $2.45 from $2.30 to $2.40.
U.S. stocks were mixed, with the Nasdaq Composite falling around 0.1% on Friday.
Shares of Gap Inc (NYSE: GAP ) rose sharply as the company reported better-than-expected second-quarter earnings and raised their FY26 EPS guidance above estimates.
Revenue came in at $3.65 billion, versus estimates of $3.69 billion.
Adjusted EPS came in at 52 cents, versus estimates of 48 cents.
Gap raised its full-year adjusted earnings guidance from a range of $2.30 to $2.40 per share to a new range of $2.35 to $2.45 per share versus estimates of $2.34 per share.
Gap shares jumped 15.2% to $23.98 on Friday.
Here are some other big stocks recording gains in today’s session.
Elastic NV (NYSE: ESTC ) shares jumped 19.6% to $100.23 after the company reported better-than-expected first-quarter financial results and raised its FY27 guidance.
Solstice Advanced Materials In c (NASDAQ: SOLS ) gained 17.3% to $66.06 after the company announced a mutual termination of its merger agreement with Element.
Also, the company authorized a $500 million share repurchase program.
Air Global PLC (NASDAQ: AIIR ) jumped 10% to $8.78.
Pagerduty Inc (NYSE: PD ) climbed 9.4% to $13.82 following upbeat quarterly earnings.
Affirm Holdings Inc (NASDAQ: AFRM ) gained 9.2% to $84.66 as the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.
N-Able Inc (NYSE: NABL ) gained 8.3% to $4.28 after announcing a $50 million increase to share repurchase program.
Mobia Medical Inc (NASDAQ: MOBI ) surged 7.5% to $11.40.
Webtoon Entertainment Inc (NASDAQ: WBTN ) rose 7.3% to $10.68.
United Microelectronics Cor p (NYSE: UMC ) jumped 6.5% to $20.30.
Bath & Body Works Inc (NYSE: BBWI ) shares gained 6.5% to $19.85.
Bath & Body Works recently reported better-than-expected second-quarter financial results and raised its FY26 EPS guidance.
Perceptive Capital Solutions Corp (NASDAQ: FRNM ) shares jumped 6.4% to $14.83.
Klarna Group PLC (NYSE: KLAR ) rose 6.4% to $14.91 in sympathy with Affirm after the buy-now-pay-later peer reported fourth-quarter results Thursday after the market closed.
Scribe Therapeutics Inc (NASDAQ: SCTX ) gained 6.2% to $30.64.
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