Retailer Issues Strong Forecast
Gap reported April same-store sales of 7 percent, better than the 5.5 percent gain expected by analysts. The retail chain also sees first-quarter earnings of $0.68 to $0.69 a share, well above the $0.56 expected by analysts. GPS climbs almost 5 percent before the bell on my tradeMONSTER platform.
ArcelorMittal Better Than Feared
ArcelorMittal is still struggling with weak steel demand in Europe, but results weren't as bad as feared. First-quarter revenue actually rose on a sequential basis, and EBITDA of $1.56 billion came in better than the $1.36 billion expected by analysts. MT climbs almost 7 percent in the premarket.
A World of Hurt for Pain Therapeutics
Pain Therapeutics said marketing partner Pfizer has made "no final decision" about whether to seek regulatory approval for its Remoxy painkiller. That's causing pain for PTIE, sending the shares down 48 percent in early trading!
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