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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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September 18, 2014
12:07 EDTJCPStocks with call strike movement; JCP FB
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September 15, 2014
11:51 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) November 57.50 call option implied volatility increased 4% to 54, J.C. Penney (JCP) October 12 call option implied volatility increased 8% to 52 according to IVolatility.
September 12, 2014
07:44 EDTJCPJ.C. Penney volatility low into company hosted analyst day
J.C. Penney September call option implied volatility is at 40, October is at 42, November is at 45, January and February is at 41; compared to its 26-week average of 53 according to Track Data suggesting decreasing price movement into a company hosted analyst day event on October 8.
September 10, 2014
11:43 EDTJCPLand's End soars after better than expected Q2 results
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September 9, 2014
07:16 EDTJCPSterne Agee to hold a field trip
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September 8, 2014
11:15 EDTJCPJ.C. Penney volatility at 27-month low
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