Gap Rallies Despite Lowered Outlook - Gap (NYSE:GPS)

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Gap Inc

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(NYSE: GPS) shares are trading higher by $1.78 at $26.87 in Friday's session. Earlier today, the company reported inline earnings and a slight revenue miss. The Street is ignoring its lowered FY 2015 from $2.50 to $2.38-$2.42 range.The issue bottomed $0.02 from its opening print at $25.88 and began to move higher. It found some intra-day resistance just beyond its November 12 high ($26.94) and ahead of the pair of high from November 10 ($27.38) and November 11 ($27.27). The issue is coming off a 39-month low that was made on Tuesday at $24.70.