Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Lululemon
The brokerage sees Lululemon's second quarter as another confirming data point that will show the business is on the right track, resulting in earnings growth and margin performance.
Wells Fargo expects gross margin to come in better-than-guidance for +120bps, which would be the company's first quarter showing gross margin expansion in more than two years.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
"Specifically, while we believe buy side expectations on the top line have come down to a degree over the past month, we [see] light comp upside potential (potential for a 6–7 percent comp vs. the Street's 5–6 percent), but more important, we believe we could see another quarter of better-than-expected gross margin (GM) and inventory management," analyst Ike Boruchow wrote in a note.
Boruchow sees EPS upside potential to his $0.37 estimate (to potentially $0.40 vs. $0.36–0.38 guide). The analyst sees comps in the mid-single digits or better area, driven by ongoing innovation in bottoms, pricing upside potential in tops, digital investment and price increases in Canada.
Gap
For Gap, Boruchow expects August comps to fall 2–3 percent, in line with Street. However, the analyst said Gap would be generating incrementally more positive results from July due to the ongoing of recovery of Old Navy.
Further, the improvement in Old Navy and slight uptick in Gap would drive less negative sales results in August.
"Should GPS begin to show some stability on the topline, we could see the shares continue to move higher in the near term as 1) inventory is well managed, 2) merch margins are already showing signs of improvement (up in Q2), and 3) compares continue to ease into Q4," Boruchow added.
At Time Of Writing...
- Shares of Gap were down 0.09 percent at $26.47 with 10 minutes left in Monday's regular trading session.
- Lululemon was down 0.01 percent at $78.18.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.