Gap credit downgraded further into 'junk' territory at S&P, and outlook is still negative [MarketWatch]
Gap, Inc. (The) (GPS)
Last gap, inc. (the) earnings: 3/12 04:15 pm
Check Earnings Report
US:NYSE Investor Relations:
gapinc.com/content/gapinc/html/investors.html
Company Research
Source: MarketWatch
Gap Inc. credit rating was downgraded at S&P Global Ratings Thursday, which kept the outlook at negative, citing the uncertainty regarding when stores will reopen and expectation of "permanent" sales losses amid the COVID-19 pandemic. The rating was lowered to BB-, which is three notches deep into speculative grade, or "junk" territory, from BB. Although apparel retailer's online channel, which represents about 25% of total sales, remains operation, S&P believes immediate sales gains will be limited because of weak economic conditions. "[W]e believe sharply lower topline results will drive elevated levels of cash burn," S&P said. "Moreover, we expect current promotional online activity will segue to heavy discounting once stores reopen due to heightened competitive pressures and a need to clear excess inventory." Earlier Thursday, Gap said it has suspended rent payments totaling $115 million and was in talks to renegotiate or terminate leases to avoid default. The stock rose 1.9% in m
Show less
Read more
Impact Snapshot
Event Time:
GPS
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GPS alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GPS alerts
High impacting Gap, Inc. (The) news events
Weekly update
A roundup of the hottest topics