PayPal Drops on Deal News; Gap Soars on Earnings | Stock Movers
On this episode of Stock Movers: - PayPal (PYPL) shares are declining after a consortium of Advent and Stripe has decided to abandon its pursuit of PayPal, according to people familiar with the matter. - Marvell Technology (MRVL) shares are lower following its second-quarter fiscal 2027 earnings report, despite edging past Wall Street expectations on both profit and revenue. - Gap (GAP) shares…
PayPal (PYPL) experienced a decline in its stock price after a consortium of Advent and Stripe dropped their pursuit of a potential acquisition of the company, according to sources familiar with the situation. In contrast, Marvell Technology (MRVL) shares fell following the release of its second-quarter fiscal 2027 earnings report, but still managed to surpass Wall Street's expectations regarding both profit and revenue.
Meanwhile, Gap (GAP) shares saw a significant increase following the apparel retailer's announcement of revised adjusted earnings per share and adjusted gross margin outlooks for the full year. Additionally, Michael Francis was appointed as the new CEO of Old Navy, a subsidiary of Gap, following a weaker-than-anticipated comparable sales decline in the recent quarter.
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