News Breaks |
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| January 11, 2013 |
| 10:52 EDT |  | JCP | J.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. |
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News For JCP From The Last 14 Days Check below for free stories on JCP the last two weeks. |
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| June 14, 2013 |
| 12:45 EDT |  | JCP | Stocks with call strike movement; JCP MU
J.C. Penney (JCP) January call option implied volatility increased 2% to 50, Micron (MU) January 16 call option implied volatility increased 2% to 48 according to IVolatility. |
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| June 12, 2013 |
| 08:20 EDT |  | JCP | Wells 'surprised' by amount of J.C. Penney TV spending
Wells Fargo said it has been surprised at the amount of TV advertising J.C. Penney has done, but it notes the spending will drive some incremental traffic and sales. Wells points out that J.C. Penney issued higher 2013 capex guidance last night in its regulatory filing. The firm raised its FY13 earnings estimate to ($4.80) from ($5.17) to reflect higher comp sales estimates but keeps an Underperform rating on the stock. |
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| 08:16 EDT | | JCP | J.C. Penney sees 2013 capital expenditures around $1B
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| June 7, 2013 |
| 12:06 EDT | | JCP | Stocks with call strike movement; CLF JCP
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| June 6, 2013 |
| 10:01 EDT |  | JCP | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cadence (CADX) initiated with a Neutral at Piper Jaffray... Costco (COST) initiated with a Buy at Sterne Agee... Dollar General (DG) initiated with a Neutral at Sterne Agee... Dollar Tree (DLTR) initiated with a Buy at Sterne Agee... Emeritus (ESC) initiated with a Neutral at Goldman... Enbridge (ENB) initiated with an Outperform at Macquarie... ExOne (XONE) initiated with a Buy at Canaccord... Family Dollar (FDO) initiated with a Neutral at Sterne Agee... Five Below (FIVE) initiated with a Neutral at Sterne Agee... Haemonetics (HAE) initiated with an Outperform at JMP Securities... ING Group (ING) initiated with a Buy at Jefferies... J.C. Penney (JCP) initiated with a Buy at Sterne Agee... Kohl's (KSS) initiated with a Neutral at Sterne Agee... Macy's (M) initiated with a Buy at Sterne Agee... Nordstrom (JWN) initiated with a Buy at Sterne Agee... Saks (SKS) initiated with a Neutral at Sterne Agee... Signature Bank (SBNY) initiated with an Overweight at Morgan Stanley... The Fresh Market (TFM) initiated with a Buy at Sterne Agee... The Medicines Co. (MDCO) initiated with an Overweight at Piper Jaffray... Vitamin Shoppe (VSI) initiated with a Buy at Sterne Agee... Whole Foods (WFM) initiated with a Buy at Sterne Agee... SkyWest (SKYW) initiated with an In-Line at Imperial Capital... W&T Offshore (WTI) initiated with a Buy at SunTrust... Canadian Natural (CNQ) initiated with an Accumulate at Global Hunter... Cenovus Energy (CVE) initiated with a Buy at Global Hunter... Suncor (SU) initiated with a Buy at Global Hunter... Freeport McMoRan (FCX) coverage resumed with a Buy at Jefferies. |
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| June 5, 2013 |
| 16:16 EDT | | JCP | J.C. Penney initiated with a Buy at Sterne Agee
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| 09:25 EDT | | JCP | On The Fly: Pre-market Movers
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| 08:33 EDT | | JCP | J.C. Penney sales continued acceleration in May at Cleveland Research
Cleveland Research said J.C. Penney sales and traffic continued to accelerate in May driven by the reintroduction of circulars and coupons and that aggressive inventory control is resulting in positive channel commentary for June and July. The firm now expects Q2 comps of flat and EPS of (50c) vs. consensus (80c). |
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