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Stock Market & Financial Investment News

News Breaks
March 11, 2014
10:03 EDTJCPJ.C. Penney advances after Citi ups to Buy, Opco still cautious
Shares of troubled retailer J.C. Penney (JCP) are climbing after Citigroup upgraded the stock in a note to investors earlier today. However, research firm Oppenheimer expressed caution about the company's outlook in a separate note to investors earlier today. BULLISH TAKE: J.C. Penney's comparative store sales can continue to rise by around 5%, in-line with its guidance, as the company eliminates inappropriate merchandise, focuses on private label products, and fixes its home stores and kids offerings, wrote Citigroup analyst Oliver Chen. If the retailer is able to meet its first quarter and fiscal 2014 guidance, investors will become more confident in the name, Chen forecast. Moreover, fears about J.C. Penney's liquidity - which Chen views as overdone - are holding back the stock, he contended. At the end of this year, J.C. Penney should have about $2B in liquidity, he predicted. Chen upgraded the shares to Buy from Neutral, and hiked his price target on the shares to $11 from $7.50. BEARISH TAKE: Much more pessimistic on the company's outlook was Oppenheimer analyst Brian Nagel. Profitability is "still a ways off for" J.C. Penney, and the company is unlikely to significantly recover anytime soon, the analyst contended. Mid-tier retailers are having a difficult time, while the company is facing more difficult comparisons going forward, according to Nagel, who expects the company to report an FY14 loss per share of $3.00, versus the consensus outlook of a $2.89 per share loss. He kept a Perform rating on the shares. PRICE ACTION: In early trading, J.C. Penney jumped 60c, or 7.1%, to $9.03.
News For JCP From The Last 14 Days
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November 24, 2014
13:32 EDTJCPJ.C. Penney director discloses 100K share purchase at $7.28
J.C. Penney director Javier Teruel disclosed in a filing late Friday the purchase of 100K shares at $7.28 on Nov. 19. Shares of JCP are up 5.5% in early afternoon trading.
November 19, 2014
10:25 EDTJCPOptions with decreasing implied volatility
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November 18, 2014
10:20 EDTJCPOptions with decreasing implied volatility
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November 17, 2014
14:21 EDTJCPEarnings Preview: Home Depot shares up over 17% since last earnings report
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12:03 EDTJCPOptions with decreasing implied volatility
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November 13, 2014
09:40 EDTJCPActive equity options trading
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07:20 EDTJCPJ.C. Penney price target lowered to $7 from $9 at JPMorgan
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06:47 EDTJCPJ.C. Penney Q4 comp guidance likely conservative, says Piper Jaffray
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