It was a 4% drop actually, and that seems like an overreaction to the Macy's news. Macy's is only one outlet for Kors and doesn't account for sales worldwide through all the other distribution channels.
An SEC filing showed director Olson Per Wold bought 10,000 shares of GILD at a cost of $99.92 each, with a total investment of $999,150, on Friday. A insider buy like that speaks a million times louder than the naysayers.
I'm long and not worried either. Actually, a target price of $115 seems very conservative to me. But if the worst case scenario with the Credit Suisse downgrade is 15% upside plus the new dividend, I'll take it happily.