• Gap (NYSE:GPS) reported after the close second quarter earnings of 33 cents a share, one cent above expectations, as revenues dropped 7.3% from a year ago to $3.25 billion, versus estimates of $3.23 billion. The firm also said inventory per square foot measure fell 14% by quarter’s end
• Boeing (NYSE:BA) shares responded to a report its Dreamliner 787 initial flight may occur in late to early November
• JM Smucker (NYSE:SJM) reported second quarter earnings of 92 cents a share ex-items, 12 cents better than expected, on revenues of $1.051 billion versus estimates of $1.04 billion. The company expects fiscal 2010 sales of about $4.5 billion versus consensus estimates of $4.55 billion, and earnings per share ex-items of $3.65 to $3.80 a share
