New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:52 EDTJCPJ.C. Penney tumbles after UBS cuts rating to Sell
J.C. Penney (JCP) is sinking after UBS analyst Michale Binetti downgraded the stock to Sell from Neutral and slashed his price target on the shares to $13 from $21 in a note to investors earlier today. The retailer's earnings outlook is deteriorating, and there are signs that its cash flow is reaching distressed levels, the analyst believes. In order to adopt a new turnaround plan that will have credibility with investors, J.C. Penney will have to significantly reduce its profitability in the medium term, Binetti wrote. The retailer's decision to lower its prices on some products in the fourth quarter increases the likelihood that the company's fourth quarter earnings per share will miss expectations, the analyst believes, adding that the Street's profitability estimates for the company will probably decline. In mid-morning trading, J.C. Penney retreated 88c, or 4.60%, to $18.27.
News For JCP From The Last 14 Days
Check below for free stories on JCP the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 11, 2014
14:26 EDTJCPCBL & Associates expects more J.C. Penney closures
Subscribe for More Information
April 8, 2014
11:42 EDTJCPStocks with call strike movement; P JCP
Subscribe for More Information
April 7, 2014
06:28 EDTJCPStocks with implied volatility below IV index mean; SWY JCP
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use