Petrobras shares decline on domestic fuel price adjustment concerns, WSJ reports In Brazil, state-run energy firm Petrobras led stock decliners at the open this morning amid concerns that the government could undercut automatic adjustments to domestic fuel prices. Petrobras will present the new pricing formula to the company's board on Friday. The firm has seen profits eroded because the company sells expensive imported fuels at a loss in the domestic market, but the government is reluctant to raise fuel prices for fear of further stoking already persistent inflation. Reference Link
J.C. Penney price target raised to $5 from $1 at Imperial Capital Imperial Capital raised its price target for J.C. Penney shares to $5 from $1 citing less risk of a financial restructuring. The firm keeps an Underperform rating on the stock.