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Stock Market & Financial Investment News

News Breaks
February 6, 2013
10:19 EDTJCPJ.C. Penney falls after analyst puts $10 target on shares
J.C. Penney (JCP) is retreating after Maxim Group analyst Rick Snyder initiated coverage of the stock with a Sell rating in a note to investors earlier today. The retailer will "virtually" run out of cash by the end of fiscal 2013, estimated the analyst, who set a $10 price target on the shares. However, the company does have a few hundred million dollars of assets it can monetize to stay afloat longer, he added. Meanwhile, some investors believe that J.C. Penney's real estate holdings are worth $200-$250 per square foot, when they're actually likely to fetch less than $100 per square foot on the open market, Snyder estimates. Furthermore, the retailer will face several new challenges if it abandons its "every day low value" concept and starts offering traditional promotions, he believes. In mid-morning trading, J.C. Penney fell 41c, or 2%, to $19.40.
News For JCP 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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