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Madeleine Johnson

The Zacks Stocks in the News Blog Highlights: Banks, Shipping Stocks, Target, Gap, Wolfcamp Oil

Trades from $3

For Immediate Release

Chicago, IL—November 18, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.

Here are highlights from this week’s Stocks in the News blog:

Here’s Why Bank Stocks (JPM, BAC, PNC, GS) are Still Gaining Today

On Monday, shares of many major bank and financial stocks were gaining, still on the rise almost a week after Donald Trump was elected the 45th president of the United States. The banking industry stands to be a winner under a Trump administration, as regulation rollbacks for Wall Street and overall uncertainty surrounding his presidency stand to boost big banks and other financial companies.

Here's Why Shipping Stocks are Today’s Biggest Movers (DRYS, GSL, DCIX)

A quick glance at Thursday’s biggest gainers and losers reveals that the shipping industry is a complete mess right now. Several notable stocks in this sector, including DryShips (DRYS), Global Ship Lease (GSL), and Diana Containerships (DCIX) are either soaring or plummeting, as many investors feel a recently-formed bubble is bursting.

So what the heck is going on with shipping companies this week? A recent note from Wells Fargo analyst Michael Webber suggests that this industry is being affected by a bubble created by algorithm-based trading.

Target Soars 8% on Strong Q3 Earnings, E-Commerce Growth

On Wednesday, shares of everyone’s favorite store, Target Corp. (TGT), soared up around 8% in morning trading after the company posted impressive third quarter financial results. Adjusted earnings per share came in $1.04, surpassing the Zacks Consensus Estimate of 83 cents per share and increasing 22.1% year-over-year. Target reported revenues of $16.441 billion, beating our consensus estimate of $16.3 billion but declining 6.7% year-over-year.

For the holiday quarter, Target projects both GAAP and adjusted EPS to be in the range of $1.55-$1.75 per share, while comparable sales should fall in the range of down 1% to up 1%, up from previous guidance of negative 2% to flat.

Gap (GPS) Meets Q3 Earnings, Comparable Sales Decline 3%

Gap Inc. (GPS) released its third quarter fiscal 2016 financial results after the bell on Thursday, posting adjusted diluted earnings of 60 cents per share and revenues of $3.8 billion. Gap’s total comparable sales fell 3% in the quarter. For Gap Global, comps were down 8%. For Banana Republic Global, comps were also down 8%. For Old Navy, comps increased by 3%.

Looking ahead to full year 2016, Gap expects its diluted EPS to be in the range of $1.41 to $1.50. The company reaffirmed its adjusted diluted earnings per share to be in the range of $1.87 to $1.92, excluding the negative impact of restructuring costs.

USGS Just Discovered the Biggest Shale Oil Field in America

On Tuesday, the U.S. Geological Survey (USGS) announced that it has discovered the biggest deposit of untapped oil in the United States, located in the Wolfcamp shale formation in the Midland Basin portion of Texas’ Permian Basin. Wolfcamp has an estimated average of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids there for the taking.

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