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Gap (GPS) Stock Closed Lower After Bridgewater Exited Stake

NEW YORK (TheStreet) -- Gap (GPS) stock closed down by 1.46% to $17.60 in Friday's trading session, after Ray Dalio's Bridgewater Associates dumped its stake in the retailer.

The fund sold its entire stake of 466,607 shares during the first quarter, according to MarketWatch.

Earlier this week, Gap warned that its 2016 first quarter financial results will likely fall short of analysts' expectations. Gap is scheduled to report first quarter earnings after the market close on May 19.

Competitors such as Macy's (M), Nordstrom (JWN), Dillard's (DDS), J.C. Penney (JCP) and Kohl's (KSS) have similarly reported disappointing financial results for the most recent quarter.

But some...