Retail investors are closely watching results from Gap. What should you expect?
The firm reports quarterly results on Thursday after the bell.
According to CNBC’s retail reporter Margaret Brennan analysts will be watching for growth in the company’s Old Navy brand. There’s cautious optimism in this weak economy – cheap clothes offered by Old Navy may attract new constomers.|
What should you expect?
Zaks Earnings Preview says “though same-store sales continue to fall, Gap recently said that first-quarter earnings would top expectations.”
They also say “the company guided for profits of 29 to 30 cents per share, 6 cents more than what brokerage analysts were projecting in early May.”
What’s the trade?
If you’re not long already you’ve missed the trade, says Guy Adami. It’s too late to get long.
I’m a seller, adds Jeff Macke.
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Trader disclosure: On May 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (AGU), (F), (SKF), (SDS); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (ABT), (TER), (JOYG), (XBI), (X), (HES); Terranova Owns Oil Futures;p Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; Terranova Owns (XOM) Calls; Terranova Owns June Gold Futures; Najarian Owns (ISIS); Najarian Owns (APC) Call Spread; Najarian Owns (BBY) Put Spread; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MOS) Call Spread; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread; Najarian Owns (PCU) Calls