Gap sinks after earnings report
The S&P 500 continues to trade slightly lower with a 0.3% decline. Like yesterday and the days before, most companies continued to beat earnings expectations. Gap (GPS 21.86, -5.01, -18.7%) is the exception, coming up short of EPS estimates, and shares are down 18% as a results. Tech companies Dell (DELL 67.70, -2.63, -3.8%) and VMware (VMW 142.07, -8.62, -5.7%) beat top and bottom-line estimates but shares are trading lower. HP (HPQ 22.86, +1.10, +5.1%) is having a good day following its positive results and upbeat guidance, though. The company also increased its dividend.