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March 5, 2014
10:08 EDTJCP, XOMA, SHLD, OLED, DECKOptions with decreasing implied volatility: JCP OLED XOMA DECK SHLD
News For JCP;OLED;XOMA;DECK;SHLD From The Last 14 Days
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April 1, 2015
09:41 EDTSHLDSears rises sharply, levels to watch
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09:23 EDTSHLDOn The Fly: Pre-market Movers
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08:12 EDTXOMAXOMA initiates Phase 2 study of gevokizumab
XOMA announced gevokizumab will be tested in a Phase 2 study in patients with Type 2 diabetes and diabetic kidney disease, clinically referred to as diabetic nephropathy. The international, multicenter, randomized, double-blind, parallel-group, placebo-controlled study is expected to enroll 370 patients who will be randomized to receive gevokizumab or placebo for 52 weeks. The primary objective of this study is to detect the existence of an overall dose-response relationship of subcutaneously dosed gevokizumab on the measured glomerular filtration rate, an accurate measure of kidney function, at Week 52. The study also will determine gevokizumab's effect on a number of biological biomarkers assessing kidney function. Servier will fully sponsor the study's execution and cost.
06:33 EDTSHLDSears reports S-11 registration statement filed by Seritage Growth Properties
Sears Holdings announced that, in connection with its previously announced exploration of the formation of a real estate investment trust, or REIT, Seritage Growth Properties, a Maryland trust formed by the company, has filed a registration statement on Form S-11 with the SEC. The Registration Statement provides for a rights offering by Seritage intended to partially finance its purchase of approximately 254 of the company's properties, virtually all of which are operated as Sears and Kmart stores. As of January 31, Sears Holdings owned or leased 1,725 Kmart and Sears stores combined. Proceeds to the company of this sale are expected to exceed $2.5B. The company would in turn enter into a master lease agreement, pursuant to which it would lease the Sears and Kmart properties from Seritage and continue to operate its retail stores in those locations. The proceeds of the rights offering, together with debt and other financing which Seritage would obtain, would be used by Seritage to purchase the properties from the company. The subscription rights would be distributed pro rata to all stockholders of record of the company and entitle holders to purchase common shares of Seritage. The record date, subscription price, subscription ratio and other terms of the proposed rights offering will be announced prior to the commencement of the rights offering. The rights offering is currently anticipated to close by the end of Q2, and is subject to the approval of the board of Sears Holdings, market conditions and the satisfaction of certain other conditions. Sears Holdings may, at any time prior to the closing of the REIT transaction, decide to abandon the transaction or modify its terms.
06:25 EDTSHLDSears, General Growth announce sale-leaseback of 12 Sears properties
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06:23 EDTSHLDSears, General Growth announce 50/50 JV
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March 31, 2015
16:33 EDTJCPJPMorgan ups J.C. Penney price target after seeing management
After meetings with J.C. Penney management, JPMorgan raised its price target for the retailer to $10 from $8. The firm says Penny management expressed confidence in the company’s ability to reach its 2017 EBITDA target of $1.2B. JPMorgan notes that management sees "multiple ways" to achieve the target, even if sales do not grow. More near-term, the firm points out its work suggests Penny will post in-line or better Q1 results despite port issues and inconsistent weather. Nevertheless, the firm keeps a Neutral rating on the retailer. Shares of Penny closed the trading day up 58c to $8.41 after Piper Jaffray this morning upped its price target for shares to $14.
06:42 EDTJCPJ.C. Penney Q1 comp estimate, price target raised at Piper Jaffray
Piper Jaffray believes warmer weather versus last year and greater mall traffic from Apple (AAPL) Watch interest will drive positive Q1 momentum for J.C. Penney (JCP). Piper raised its comp estimate for Q1 to up 3% from up 1% and its price target for shares to $14 from $13. The firm keeps an Overweight rating on J.C. Penney.
March 23, 2015
10:18 EDTSHLDSears Holdings volatility at low end of 44-month range as shares trend higher
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March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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12:35 EDTSHLDSears supply chain under pressure, WSJ says
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