The video this transcript is based on appeared on November 22.
NEW YORK ( TheStreet) -- Futures are little changed after a strong Thursday session. Gap, Ross Stores, The Fresh Market and Splunk all report earnings on Friday morning.
The DOW's looking to extend past milestone 16,000 point level while the S&P hopes to booked winning streak. Good morning I'm Joe Deaux reporting from wall street on this Friday November 22n.d.US futures are trading sideways this morning as traders are taking a breather, from Thursday strong session there seem to lift from the senate banking committee's approval of Janet Yellen as the next fed chair, of course the next step is for the entire Senate chamber to look for the nomination Friday's economic calendar is light but the market expects the Kansas City Fed manufacturing index later in the day. Let's turn earnings caller can is in our newsroom with the latest Nicole good morning
Good morning Joe.
Nicole get grabbed a profit in its third quarter in this seems to be all discounts discount discounts.
Yes you know a lot of the analysts are coming out negative on the stock this morning because the EPS miss was based on better-than-expected FGNA. Margins were a little bit weaker than expected because those discounts. The stock is trading a little bit better this morning I would point out gap has really act like you did despite many of the continued worries it's been a big turnaround name under Glenn Murphy chairman and CEO back from a pay back in the 90's when Mickey Drexler was at the helm. Many analysts are worried that the color momentum from a year ago is waning, along with some other benefit there at the from JC Penney's woes rather, but you know trends are generally strong they pointed to a little bit of uncertainty in the holiday quarter coming up but it's a well-positioned name here in the stock is trading up slightly now well-being of last night.
Let's turn to a couple names that are lowing lowering forecasts efforts we have Ross Stores yeah Roth stors interest think that followed TJ act is very strong performance com came in at two percent I was the low end up there two to three percent guidance and then also below by expectations of course that key that was four percent, and the 4q com guidance was lower 2 percent from two to three percent contrast that with TJ Maxx that put the comp the five percent both had somewhere multiple trading coming into the quarter that bad with the stock down over seven percent and expectations reset it inventory levels low it could be an interesting one to come into this off price space be has been very key taking access inventory from the Macy's and Nordstrom's of the world.
Now fresh market also downgraded its fiscal 2013 EPS, what's up there?
Yeah the Fresh Market was in focus particularly after Whole Foods disappointing quarter a lot of question marks over competition and pricing as we're seeing a lot in new organic means come out not to mention names like Costco in Kroger picking up this theme. It was just the disappointing quarter not only com which were 3.1 percent sequential the fella region, but also new stores productivity not so great in a big part in the story the new store grab excuse me new store growth so we'll have to be a taking a closer look here even though the stock down 14 percent
Alright finally Splunk give investors some good news by raising its fourth-quarter estimates.
Yes, Splunk really hot name with the biggest beat they had year yet 47 percent year-over-year growth death stock at a run up over a hundred percent in the pocket still up over eleven percent premarket. In contrast a violin memory everything I P O which is down about 40 percent premarket after horrendous quarter, so Splunk is definitely a winner.
As always thanks so much thanks that's what's happening this morning on wall street for TheStreet I'm Joe Deaux have a good weekend.
--Written by Joe Deaux in New York.