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Stock Market & Financial Investment News

News Breaks
November 13, 2012
10:48 EDTJCPFitch downgrades J.C. Penney's IDR to B, outlook negative
Fitch Ratings has downgraded its Issuer Default Ratings on J.C. Penney Co., Inc. and J.C. Penney Corporation, Inc. to 'B' from 'BB-'. The Rating Outlook is Negative. The rating downgrades reflect dismal third quarter performance, where sales declines continued to accelerate, and Fitch's concern that top line will likely get worse during the critical holiday season when promotional events tend to pick up to drive traffic. For 2013, there is a lack of visibility in terms of the company's ability to stabilize its core business, which currently accounts for 90% of its footprint. It remains unclear whether the new shops and merchandise offering can offset any continued declines in the existing business in second half 2013.
News For JCP From The Last 14 Days
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July 22, 2015
10:01 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
08:38 EDTJCPNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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08:09 EDTJCPJ.C. Penney upgraded to Buy from Neutral at Buckingham
Buckingham upgraded J.C. Penney to Buy and increased its price target to $12 from $9. The firm believes 2H comps could accelerate as initiatives take hold and has increased confidence it the company's ability to hit its 2017 EBITDA target of $1.2B. Buckingham believes FY15 sales comp guidance of 4%-5% is achievable and sees continued gross margin improvement and reduced SG&A levels.

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