|August 12, 2014|
|10:25 EDT||JCP||J.C. Penney August volatility elevated into Q2 and outlook |
J.C. Penney August call option implied volatility is at 113, September is at 56, November is at 52, January is at 49; compared to its 26-week average of 60 according to Track Data suggesting large August price movement into the expected release of Q2 results on August 14.
News For JCP From The Last 14 Days
|April 24, 2015|
|15:10 EDT||JCP||J.C. Penney May volatility elevated into Q1 and outlook|
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|April 15, 2015|
|11:09 EDT||JCP||J.C. Penney rally would be opportunity to issue shares, says Imperial Capital|
Imperial Capital continues to expect elevated debt levels to erode the value of J.C. Penney shares, but it thinks favorable operating momentum could drive the stock price above $10. Imperial believes such a rally would provide Penny with a "great opportunity" to issue additional shares to pay down debt. The firm keeps an Underperform rating on Penny with a $3 price target. Shares of the retailer are up 9c to $9.23 in late morning trading.
|April 14, 2015|
|11:47 EDT||JCP||J.C. Penney business on 'more stable footing,' says Baird|
Baird analyst Mark Altschwager says J.C. Penney's business is on "more stable footing" after the retailer reported a quarter-to-date comp of 6% and provided Q1 comp guidance above consensus. Altschwager raised his price target for shares to $10 from $9 but keeps a Neutral rating on Penny. He believes meaningful free cash flow growth will be challenging as investment needs normalize.
|08:55 EDT||JCP||J.C. Penney sees Q1 SSS up 3.5%-4.5%|
J.C. Penney said in a regulatory filing that on April 13, the company became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for Q1 to be in the range of 3.5%-4.5%.