On this episode of Stock Movers:
- Gap (GAP) shares sink after the company predicted a tariff impact of up to $300 million and revealed weakness at Banana Republic and Athleta. The retailer reiterated its guidance for sales and operating income this year, but this does not include the potential impact of tariffs, and has strategies to mitigate more than half of the tariff cost.
- Costco Wholesale (COST) shares rise after the company posted better-than-expected earnings in the third quarter, with earnings per share of $4.28, above Wall Street analysts' expectations. The company is navigating tariffs and economic turbulence by flexing its scale and devoted following, and is expected to implement price increases later in the year on a selective basis.
- Airbnb (ABNB) shares fall after Truist Securities cut its recommendation to sell from hold and lowered its price target to $106 from $112.
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