Stocks are moving sharply higher on Wall Street after lawmakers reached a last-minute budget agreement to avert sweeping tax increases and cuts to government spending programs.
J.C. Penney Co. executives may be confident in the department-store chain’s everyday pricing strategy, but investors are panicking. The Plano-based company’s stock fell nearly 11 percent on Monday.
J.C. Penney Co. reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing.
J.C. Penney & Co.’s stock is one of the market’s biggest decliners Thursday after the department store chain said that it expects its financial struggles to continue during the second half of the year.
One closely watched stock, Facebook, fell again Tuesday to just over half its initial public offer price. After rising on Monday, the social network’s stock dipped 85 cents, closing at $19.16.
JCPenney’s shares are tumbling a day after the company announced the departure of Michael Francis, a top executive brought in last October to help redefine the store’s brand.
The shares will stop trading before the opening bell next Thursday. The delisting includes AMR common stock and some company-issued notes.
The Dow Jones Industrial average dropped 419 points Thursday as investors worried over a trio of problems.
Many people in their 40s and 50s are feeling the painful equation. When the market drops, so do their 401ks. It seems the only thing going up these days is the retirement age.
The company increased its fiscal-year outlook, but weaker profit margins in its core Express and Ground segments and a soft second-quarter forecast made investors nervous. The company also plans to cut 1,700 jobs and close […]
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