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Stock Market & Financial Investment News

News Breaks
March 13, 2013
14:50 EDTJCP, VNOJ.C. Penney CFO: Vornado's Roth gave no indication he was going to sell shares
J.C. Penney (JCP) CFO Ken Hannah said he cannot speak for Steve Roth, but contended that Vornado's (VNO) sale of Penney shares may likely have been related to Roth's assumption of the CEO role at Vornado. In response to a separate question, Hannah said J.C. Penney is being "very aggressive" in response to a suit brought against it by bondholders claiming the company defaulted on obligations. Hannah made the comments at the Bank of America Consumer & Retail conference.
News For JCP;VNO From The Last 14 Days
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April 24, 2015
15:10 EDTJCPJ.C. Penney May volatility elevated into Q1 and outlook
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April 15, 2015
11:09 EDTJCPJ.C. Penney rally would be opportunity to issue shares, says Imperial Capital
Imperial Capital continues to expect elevated debt levels to erode the value of J.C. Penney shares, but it thinks favorable operating momentum could drive the stock price above $10. Imperial believes such a rally would provide Penny with a "great opportunity" to issue additional shares to pay down debt. The firm keeps an Underperform rating on Penny with a $3 price target. Shares of the retailer are up 9c to $9.23 in late morning trading.
April 14, 2015
11:47 EDTJCPJ.C. Penney business on 'more stable footing,' says Baird
Baird analyst Mark Altschwager says J.C. Penney's business is on "more stable footing" after the retailer reported a quarter-to-date comp of 6% and provided Q1 comp guidance above consensus. Altschwager raised his price target for shares to $10 from $9 but keeps a Neutral rating on Penny. He believes meaningful free cash flow growth will be challenging as investment needs normalize.
08:55 EDTJCPJ.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney said in a regulatory filing that on April 13, the company became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for Q1 to be in the range of 3.5%-4.5%.

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