Traders Recap: Real Goods Solar, Inc. (NASDAQ:RSOL), Newcastle Investment Corp. (NYSE:NCT), The Gap Inc. (NYSE:GPS)
Real Goods Solar, Inc. (NASDAQ:RSOL) stock dropped 6.48% to $3.95. The company on May 24 announced that it has entered into a definitive agreement to raise approximately $9.25 million by issuing 3,366,974 shares of Class A common stock at a per share price of $2.75 and warrants to purchase 1,683,488 shares of Class A common stock, with a term of five years from the closing date and an exercise price of $2.75 per share.
The company expects to receive net proceeds of approximately $8.4 million, after paying placement agent fees and estimated offering expenses.
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Newcastle Investment Corp. (NYSE:NCT) shares fell 2.77% to $5.27. The company on May 16 announced that the spin-off of New Residential Investment Corp. (“New Residential”) was successfully completed on May 15, 2013. Starting today, New Residential will begin trading on the New York Stock Exchange under the symbol “NRZ.”
Holders of Newcastle common stock as of the record date, May 6, 2013, have been electronically issued one share of New Residential common stock for each share of Newcastle common stock held as of the record date.
The Gap Inc. (NYSE:GPS) stock dropped 2.66% to $40.25. The company on May 23 posted a 43% rise in earnings as the apparel retailer continued to show momentum in its turnaround.
For the quarter ended May 4, Gap reported earnings per share of 71 cents, beating its prior prediction of 68 cents to 69 cents. The company reported on May 9 that net sales for the quarter rose 6.9% to $3.73 billion. Analysts expected 69 cents a share on $3.67 billion in sales. Net income was $333 million compared with $233 million the year before. The company repurchased $58 million in shares in the first quarter.