Orlando, FL -- (SBWIRE) -- 10/14/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On SolarCity Corp (NASDAQ:SCTY), The Gap Inc. (NYSE:GPS).
SolarCity Corp (NASDAQ:SCTY) shares jumped 23.09% to $47.18. The company on Oct. 12 said it expects to boost annual installed capacity almost 90 percent next year. SolarCity plans to deploy 475 megawatts to 525 megawatts of photovoltaic projects in 2014, up from an estimated 278 megawatts this year, the San Mateo, California-based company said today in a statement. The stock rose 23 percent to $47.18 at the close in New York, the biggest gain since May 17.
Additionally, the company on Oct. 9 said it will acquire Zep Solar, a maker of mounting systems for residential solar panels, for about $158 million in stock. The acquisition announcement was SolarCity's second in as many months. In August, it said it would pay $120 million for direct marketing company Paramount Solar.
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The Gap Inc. (NYSE:GPS) stock dropped 6.71% to $36.83. The company on Oct. 11 revealed a surprise slump in September sales amid across-the-board weakness at its three brands. The company said its same-store sales fell 3% last month. That compares poorly with the year-earlier period’s growth of 6% and estimates from analysts for a gain of 2%. The retailer suffered a 3% decline in same-store sales at its namesake brand, while Banana Republic sales dropped 5% and Old Navy sales fell 2%. All three brands enjoyed growth in the year-earlier period, highlighted by a 10% jump by Old Navy.
Additionally, the company will begin trading ex-dividend on October 11, 2013. A cash dividend payment of $0.2 per share is scheduled to be paid on October 30, 2013. Shareholders who purchased GPS stock prior to the ex-dividend date are eligible for the cash dividend payment.
I s GPS going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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