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Stock Market & Financial Investment News

News Breaks
March 13, 2013
14:50 EDTVNO, JCPJ.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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June 30, 2015
15:20 EDTJCPMoody's raises J.C. Penney liquidity rating to SGL-1 from SGL-2
Moody's Investors Service revised J.C. Penney's rating outlook to positive from stable. Moody's also affirmed the company's Caa1 Corporate Family Rating, and raised the company's Speculative Grade Liquidity rating to SGL-1 from SGL-2. "The rating outlook revision to positive from stable reflects Moody's view that JC Penney's operating performance has shown signs of improvement as a result of better merchandising, cost controls, and integration of its online business" said Moody's Vice President Scott Tuhy. He added, "we have seen positive momentum building for the company to achieve $700M to $800M of adjusted EBITDA, a level in which earnings would fully cover cash flow and interest". The upgrade in the Speculative Grade Liquidity rating primarily reflects the company's improved operating performance as we expect free cash flow to be near break-even levels and the company's meaningful cash balances are sufficient to cover expected seasonal working capital needs.
June 24, 2015
10:26 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) December 40 call option implied volatility increased 1% to 44, J.C. Penney (JCP) November 20 call option implied volatility decreased 5% to 42 according to IVolatility.

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