Diamonds and Dogs
July 8th, 2010Dog
Gap Inc, GPS
Retailing company Gap Inc has fallen $1.50 to 18.22 on the day due to flat comparable store sales in June. Their competition has been seen as better managed teams and thought to have better products than the Gap clothing company. The only way to close the hole between sales of competitors is to have a spectacular back-to-school/fall season which could potentially happen. The pressure to clear out summer merchandise, tighten inventory levels, and overall increase customer traffic through campaigns lies ahead for Gap.
Sun Bancorp, SNBC
Shares for Sun Bancorp jumped Thursday due to a $100 million investment in common and preferred stock from a group led by private equity firm W.L Ross and Co. who invested $50 million alone. His interest in investing in small banks is not over as he stated this could be the first of many banks he acquires in NJ. In the transaction Ross bought his stock for $4 a share and now Sun Bancorp shares are up $1.34 or 39.6% to $5.04.
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