Gap's stock plunged as much as 15 percent after the retailer said that April and first-quarter revenue fell from the prior-year periods. Sales for Q1 came in at $3.44 billion, down from $3.66 billion, while April sales were $1.12 billion, compared with $1.21 billion in the previous year.
Gap added it expects diluted earnings per share of 31 to 32 cents. It falls well below analysts' expectations of 44 cents, according to a Thomson Reuters consensus estimate.
Hertz Global's stock dipped about 4 percent as the rental car company posted a wider-than-expected quarterly loss. It reported an adjusted first-quarter loss of 12 cents per share, versus expectations of a 1 cent per share loss.
Revenue also disappointed, coming in at $2.31 billion. Analysts had expected sales of $2.37 billion.
Shares of cloud computing company Rackspace dropped more than 5 percent after it reported mixed quarterly results. It posted first-quarter earnings of 37 cents per share on $518 million in revenue.
Analysts expected earnings of 22 cents per share on $519 million in sales.
Shares of Consolidated Edison fell nearly 2 percent Monday as the utilities company announced an offering of 8.8 million common shares. It said the offering is connected to a subsidiary buying an interest in a gas pipeline and storage venture.