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Inc. (NYSE:JCP) – US Market Buzz http://www.usmarketbuzz.com Nation and Economy Mon, 20 Jul 2020 16:28:22 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.23 Stocks Alert: Noble Corporation (NYSE:NE), J. C. Penney Company, Inc. (NYSE:JCP), Gold Fields Limited (ADR)(NYSE:GFI) http://www.usmarketbuzz.com/stocks-alert-noble-corporation-nysene-j-c-penney-company-inc-nysejcp-gold-fields-limited-adrnysegfi-2667 Mon, 22 Dec 2014 14:56:18 +0000 http://www.usmarketbuzz.com/?p=2667 Lakeway, NY — (MARKET NEWS CALL) — 12/22/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Noble Corporation (NYSE:NE), J. C. Penney Company, Inc. (NYSE:JCP), Gold Fields Limited (ADR)(NYSE:GFI).

Noble Corporation (NYSE:NE)’s shares increased 9.52% to $18.63. The company on Dec. 18 announced that its report of drilling rig status and contract information has been updated as of December 18, 2014.  The report, titled “Fleet Status Report,” can be found on the Company’s Web site www.noblecorp.com, under the “Investor Relations” section of the Web site.

Should Investors Buy NE After The Recent Development? Find Out Here

Additionally, Moody’s Investors Service on Dec. 19 downgraded the senior unsecured debt ratings of the rated subsidiaries of Noble Corporation (Cayman Island) (Noble) to Baa3 from Baa2 and downgraded Noble’s short-term rating to Prime-3 from Prime-2. The rating outlook is stable.

J. C. Penney Company, Inc. (NYSE:JCP)’s shares dropped 3.09% to $6.59. Effective Dec. 9, 2014, the Board of Directors of the Company appointed B. Craig Owens to the Audit Committee, the Finance and Planning Committee and the Committee of the Whole of the Board of Directors of the Company.

Is JCP Going To Rise or Fall After Today’s Price Action? Find Out Here

Additionally, Goldman Sachs analyst lowered his rating on shares of JCP, citing concerns with its turnaround efforts on Dec. 3. Goldman’s Stephen Grambling said that J.C. Penney Co. reported 3.4 percent growth in online sales in the third quarter, but that’s down from a 16.7 percent rise in the second quarter and its peers are still posting double-digit increases.

Gold Fields Limited (ADR)(NYSE:GFI)’s shares dropped 2.24% to $4.36. The company on Nov. 20 announced net earnings for the September 2014 quarter of US$19 million compared with US$19 million for the June 2014 quarter and US$9 million for the September 2013 quarter. Normalised earnings for the September 2014 quarter of US$23 million compared with US$25 million for the June 2014 quarter and US$12 million for the September 2013 quarter.

Can Traders Buy GFI After The Solid Rally? Get Free Trend Analysis Here

Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013, Gold Fields unbundled its mature, underground KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold.

About thenextbigtrade.com

thenextbigtrade.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. thenextbigtrade.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed “informational edge” which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at Specialpennystockalert.com.

Disclaimer

The assembled information disseminated by thenextbigtrade.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. thenextbigtrade.com does expect that investors will buy and sell securities based on information assembled and presented in thenextbigtrade.com. PLEASE always do your own due diligence, and consult your financial advisor.

 

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Stocks Highlights: BlackBerry Limited (NASDAQ:BBRY), J. C. Penney Company, Inc. (NYSE:JCP), Peabody Energy Corp. (NYSE:BTU) http://www.usmarketbuzz.com/stocks-highlights-blackberry-limited-nasdaqbbry-j-c-penney-company-inc-nysejcp-peabody-energy-corp-nysebtu-2601 Fri, 19 Dec 2014 15:31:10 +0000 http://www.usmarketbuzz.com/?p=2601 Lakeway, NY — (US MARKET BUZZ) — 12/19/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on J. C. Penney Company, Inc. (NYSE:JCP), Peabody Energy Corp. (NYSE:BTU), BlackBerry Limited (NASDAQ:BBRY).

J. C. Penney Company, Inc. (NYSE:JCP)’s shares jumped 2.56% to $6.80. Effective Dec. 9, 2014, the Board of Directors of the Company appointed B. Craig Owens to the Audit Committee, the Finance and Planning Committee and the Committee of the Whole of the Board of Directors of the Company.

Should Investors Buy JCP After The Recent Development? Find Out Here

Additionally, Goldman Sachs analyst lowered his rating on shares of JCP, citing concerns with its turnaround efforts on Dec. 3. Goldman’s Stephen Grambling said that J.C. Penney Co. reported 3.4 percent growth in online sales in the third quarter, but that’s down from a 16.7 percent rise in the second quarter and its peers are still posting double-digit increases.

Peabody Energy Corp. (NYSE:BTU)’s shares jumped 1.63% to $8.09. The company’s Chairman and Chief Executive Officer Gregory H. Boyce on Dec. 12 has been named CEO of the Year, and the company has been named Energy Company of the Year, at the Global Energy Awards in New York.  The annual program recognizes exemplary industry leadership around the world. The Energy Company of the Year award is the program’s highest honor, recognizing all-around excellence in executing a total energy strategy.

Is BTU Going To Rise or Fall After Today’s Price Action? Find Out Here

BlackBerry Limited (NASDAQ:BBRY)’s shares gained 0.90% to $10.07. The company on Dec. 17 launched the BlackBerry® Classic™ in Singapore. The no-nonsense smartphone built to meet the needs of productive people who appreciate the speed and accuracy that can be found with a physical QWERTY keyboard is available island-wide through each of the three major network operators, M1, SingTel and StarHub.

Can Traders Buy BBRY After The Solid Rally? Get Free Trend Analysis Here

Additionally, BlackBerry Limited (BBRY) and NantHealth on Dec. 8 announced the first secure clinical genome browser that gives doctors unprecedented access to patients’ genetic data on the BlackBerry® Passport smartphone – the NantOmics Cancer Genome Browser™.

About thenextbigtrade.com

thenextbigtrade.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. thenextbigtrade.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed “informational edge” which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at Specialpennystockalert.com.

Disclaimer

The assembled information disseminated by thenextbigtrade.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. thenextbigtrade.com does expect that investors will buy and sell securities based on information assembled and presented in thenextbigtrade.com. PLEASE always do your own due diligence, and consult your financial advisor.

 

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Special News Alert: J. C. Penney Company, Inc. (NYSE:JCP), FuelCell Energy Inc. (NASDAQ:FCEL), IAMGOLD Corp. (USA) (NYSE:IAG) http://www.usmarketbuzz.com/special-news-alert-j-c-penney-company-inc-nysejcp-fuelcell-energy-inc-nasdaqfcel-iamgold-corp-usa-nyseiag-2416 Wed, 17 Dec 2014 13:52:39 +0000 http://www.usmarketbuzz.com/?p=2416 Lakeway, NY — (US MARKET BUZZ) — 12/17/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on J. C. Penney Company, Inc. (NYSE:JCP), FuelCell Energy Inc. (NASDAQ:FCEL), IAMGOLD Corp. (USA) (NYSE:IAG).

J. C. Penney Company, Inc. (NYSE:JCP)’s shares jumped 1.17% to $6.49. Effective Dec. 9, 2014, the Board of Directors of the Company appointed B. Craig Owens to the Audit Committee, the Finance and Planning Committee and the Committee of the Whole of the Board of Directors of the Company.

Should Investors Buy JCP After The Recent Development? Find Out Here

Additionally, Goldman Sachs analyst lowered his rating on shares of JCP, citing concerns with its turnaround efforts on Dec. 3. Goldman’s Stephen Grambling said that J.C. Penney Co. reported 3.4 percent growth in online sales in the third quarter, but that’s down from a 16.7 percent rise in the second quarter and its peers are still posting double-digit increases.

FuelCell Energy Inc. (NASDAQ:FCEL)’s shares jumped 1.95% to $1.57. The company on Dec. 15 reported results for its fourth quarter and fiscal year ended October 31, 2014 along with an update on key business highlights. For the twelve months ended October 31, 2014, the Company reported revenue of $180.3 million compared to $187.7 million for the prior year period. Net loss attributable to common shareholders for the twelve months ended October 31, 2014 was $41.3 million or $0.17 per basic and diluted share. Excluding the expense associated with the conversions of Senior Unsecured Convertible notes and the related embedded derivative adjustment, the adjusted net loss attributable to common shareholders totaled $32.9 million or $0.13 per basic and diluted share.

Is FCEL Going To Rise or Fall After Today’s Price Action? Find Out Here

IAMGOLD Corp. (USA) (NYSE:IAG)’s shares jumped 5.17% to $2.45. The company announced that the presentation from Vice President of Investor Relations, Bob Tait, is now available for on-demand viewing at VirtualInvestorConferences.com. An on-demand archive will be available for 90 days.

Can Traders Buy IAG After The Solid Rally? Get Free Trend Analysis Here

Additionally, IAG’s stock has earned a consensus rating of “Hold” from the fourteen brokerages that are covering the stock on Dec. 5. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.28.

About thenextbigtrade.com

thenextbigtrade.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. thenextbigtrade.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed “informational edge” which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at Specialpennystockalert.com.

Disclaimer

The assembled information disseminated by thenextbigtrade.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. thenextbigtrade.com does expect that investors will buy and sell securities based on information assembled and presented in thenextbigtrade.com. PLEASE always do your own due diligence, and consult your financial advisor.

 

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News Recap: Kinross Gold Corporation (USA)(NYSE:KGC), Groupon, Inc. (NASDAQ:GRPN), J. C. Penney Company, Inc. (NYSE:JCP) http://www.usmarketbuzz.com/news-recap-kinross-gold-corporation-usanysekgc-groupon-inc-nasdaqgrpn-j-c-penney-company-inc-nysejcp-2077 Wed, 16 Jul 2014 13:17:41 +0000 http://www.usmarketbuzz.com/?p=2077 Kinross Gold Corporation (USA)(NYSE:KGC)’s shares dropped 3.29% to $4.12. The 52 week trading range for the company is $3.66 – $6.23. The shares of the company fell 11% in the last one year. The company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. Kinross also produces and sells silver. Kinross’ gold production and exploration activities are carried out principally in Canada, the United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania.

Get the Inside Scoop On KGC here with this Free Report

Groupon, Inc. (NASDAQ:GRPN)’s shares dropped 0.93% to $6.40. The company intends to hold a conference call to discuss its second quarter 2014 financial results on Aug. 5, 2014, at 5:00pm EDT.

You won’t believe what we found out about GRPN

Additionally, the company on July 9 launched a sweepstakes for a trip for two to travel to Chicago, take part in a private cooking class with celebrity chef Rick Bayless and see his show “Cascabel” at the Lookingglass Theatre Company. Launching today and running through July 15, Groupon subscribers can visit www.groupon.com/rickbayless to make a donation and enter the sweepstakes.All donations will go directly to the Frontera Farmer Foundation, which provides grants to local farms that serve the Chicago area.

J. C. Penney Company, Inc. (NYSE:JCP)’s shares dropped 0.70% to $8.55. Zamansky LLC on July 2 announces that it has commenced an investigation of J.C. Penney Corporation (JCP)’s employee savings, profit-sharing and stock ownership plan (the “Plan”) for potential violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties to prudently manage and invest plan assets. These duties were allegedly violated by JCP’s offering of company stock despite its lack of prudence as an investment.

Why Should You Buy JCP Now? Get The Free Trend Analysis Here

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Stocks Highlights: Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), CVR Refining, LP (NYSE:CVRR), J.C. Penney Company, Inc.(NYSE:JCP) http://www.usmarketbuzz.com/stocks-highlights-sinclair-broadcast-group-inc-nasdaqsbgi-cvr-refining-lp-nysecvrr-j-c-penney-company-inc-nysejcp-1762 Thu, 26 Jun 2014 18:39:00 +0000 http://www.usmarketbuzz.com/?p=1762 Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)’s shares gained 15.60% to $33.80. The company on June 23 announced that it has entered into an agreement to sell the assets of WHTM-TV (ABC) in Harrisburg, PA to Media General.  The Company also announced that it entered into an agreement to sell the non-license assets of WTAT-TV (FOX) in Charleston, SC to Cunningham Communications, which owns the license assets.  The stations are being sold for a combined $97.4 million sale price, representing an approximate 9.1x multiple of the stations’ 2-year average cash flow.  The sales are part of Sinclair’s larger acquisition of the Allbritton Communications television stations in order to comply with regulatory rules in effort to obtain approval of Allbritton transaction by July 27, 2014.

There Is One Better Stock Than SBGI? Let’s Find Out Here

CVR Refining, LP (NYSE:CVRR)’s shares declined 8.70% to $24.78. The company on June 25 announced the pricing of its public offering of 6,500,000 common units representing limited partner interests (“Common Units”) at the public offering price of $26.07 per Common Unit. We and CVR Refining Holdings have granted the underwriters an option to purchase up to an aggregate additional 975,000 Common Units from CVR Refining at the public offering price. The offering is expected to close on June 30, 2014, subject to customary closing conditions.

Why Should Investors Switch Over To CVRR From BNBI? Grab A Free Report Here

J.C. Penney Company, Inc.(NYSE:JCP)’s shares closed at $8.55. The company on June 23 announced that it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan. The new facility replaces a $1.850 billion credit facility that was scheduled to mature in April 2016 and provides better pricing terms than the previous facility. Proceeds from the term loan will be used to pay down the cash borrowings on the previous facility. The revolving line of credit will be available for working capital and general corporate purposes.

 JCP Move Over there is a new social media stock in town. Read more here

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Stocks To Watch: Advanced Micro Devices, Inc. (NYSE:AMD), Zynga Inc(NASDAQ:ZNGA), J.C. Penney Company, Inc.(NYSE:JCP) http://www.usmarketbuzz.com/stocks-to-watch-advanced-micro-devices-inc-nyseamd-zynga-incnasdaqznga-j-c-penney-company-inc-nysejcp-1710 Wed, 25 Jun 2014 13:23:49 +0000 http://www.usmarketbuzz.com/?p=1710 Advanced Micro Devices, Inc. (NYSE:AMD)’s shares declined 1.75% to $3.94. The company on June 23 announced that AMD has settled all 8.125% Senior Notes due 2017 (“8.125% Notes”) that were tendered, but not validly withdrawn, at or prior to 12:00 midnight, New York City time, on June 19, 2014 (the “Consent Deadline”) pursuant to its previously announced tender offer (the “Tender Offer”) and consent solicitation (the “Consent Solicitation”) with respect to any and all of its outstanding 8.125% Notes. The Tender Offer will expire at 12:00 midnight, New York City time, on July 3, 2014 unless extended or earlier terminated by AMD.

 AMD Move Over there Is A New Social Media Stock In Town. Read More Here

Zynga Inc(NASDAQ:ZNGA)’s shares declined 1.92% to $3.06. The company said it’s recruiting new candidates to its board after Reid Hoffman and Jeffrey Katzenberg stepped down, putting the number of independent directors below the Nasdaq minimum. The departure of the two directors, first announced in April, leaves Zynga out of compliance with Nasdaq Stock Market rules requiring a majority of independent directors, the San Francisco-based company said in a June 13 regulatory filing. The company has until July 27 to submit a plan to Nasdaq outlining how it intends to regain compliance with the rule. Upon acceptance of the plan, the Nasdaq may give the company until Dec. 9 to comply, according to the filing.

Is It The Perfect Time To Reshuffle Your Portfolio With This Multibagger? Find Out Here

J.C. Penney Company, Inc.(NYSE:JCP)’s shares dropped 1.61% to $8.55. The company on June 23 announced that it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan. The new facility replaces a $1.850 billion credit facility that was scheduled to mature in April 2016 and provides better pricing terms than the previous facility. Proceeds from the term loan will be used to pay down the cash borrowings on the previous facility. The revolving line of credit will be available for working capital and general corporate purposes.

Don’t Repeat The Mistake By Not Including This Multibagger In Your Portfolio? Grab The Stock Ideas Here

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Stocks In Focus: Plug Power Inc (NASDAQ:PLUG), J.C. Penney Company, Inc.(NYSE:JCP), Transurban Group (ASX:TCL) http://www.usmarketbuzz.com/plug-stocks-in-focus-plug-power-inc-nasdaqplug-j-c-penney-company-inc-nysejcp-transurban-group-asxtcl-1470 Thu, 16 Jan 2014 20:13:17 +0000 http://www.usmarketbuzz.com/?p=1470 Plug Power Inc(NASDAQ:PLUG) shares decreased 3.95% to $3.67. The company on Jan. 15 announced the completion of its previously announced underwritten registered offering of 10,000,000 shares of its common stock and accompanying warrants to purchase 4,000,000 shares of its common stock. The shares and the warrants were sold together in a fixed combination, with each combination consisting of one share of common stock and 0.40 of a warrant to purchase one share of common stock, at a price to the public of $3.00 per fixed combination for gross proceeds of $30.0 million. The securities were placed with a single investor.

Free Urgent Insider Catalyst Report For PLUG Available Here

J.C. Penney Company, Inc.(NYSE:JCP) shares dropped 5.63% to $6.62. The company on Jan. 15 announced that as part of its turnaround efforts, the Company will be closing 33 underperforming stores across the country in order to focus its resources on the Company`s highest potential growth opportunities. These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014. In connection with this initiative, the Company expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter of fiscal 2013 and approximately $17 million in future periods.

Free Urgent Insider Catalyst Report For JCP Available Here

Transurban Group (ASX:TCL) shares gained 0.44% to $6.83. The company recently completed the acquisition of Royal Bank of Scotland’s senior secured debt for the Cross City Tunnel in Sydney. The $475 million deal will make the company the sole secured creditor and it plans to work with the receivers of the asset to unlock value for the company’s security holders. The project originally cost about $1 billion to finance and cost. Transurban owns roads like the Lane Cove Tunnel and Hills M2 in Sydney and the CityLink in Melbourne. It has also invested in roads in the state of Virginia, USA.

Free Urgent Insider Catalyst Report For TCL Available Here

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Opening Buzz: Micron Technology, Inc. (NASDAQ:MU), J.C. Penney Company, Inc. (NYSE:JCP) http://www.usmarketbuzz.com/mu-opening-buzz-micron-technology-inc-nasdaqmu-j-c-penney-company-inc-nysejcp-1263 Wed, 18 Dec 2013 15:39:22 +0000 http://www.usmarketbuzz.com/?p=1263 J.C. Penney Company, Inc.(NYSE:JCP) shares dropped 3.30% to $8.20. The company on Dec. 5 says the SEC is looking into its liquidity, debt and other financial matters. The struggling retailer disclosed in a regulatory filing that it received a letter from the Securities and Exchange Commission in October requesting information on its liquidity, cash position, debt and equity financing, as well as its offering of common stock announced in September.

Free Urgent Insider Catalyst Report For JCP Available Here

Additionally, the company on Dec. 3 estimated that its same-store sales climbed 10% during November, while its online sales were well ahead of year-earlier levels and were consistent with the previous month’s trend.

Micron Technology, Inc. (NASDAQ:MU) shares gained 0.66% to $22.92. The company on Dec. 17 announced its collaboration with Broadcom Corporation to develop the industry`s first solution designed for customers challenged by an intrinsic DDR3 timing parameter called tFAW, or four activate window. tFAW refers to a DDR3 timing parameter that restricts data throughput in server, storage and networking applications and can compromise bandwidth by 15 to 35 percent.

Free Urgent Insider Catalyst Report For MU Available Here

Additionally, the company on Dec. 10 announced the availability of 45nm Serial NOR Flash memory samples in 512Mb, 1Gb, and 2Gb densities with a standard SPI interface. These new MT25Q SPI NOR devices offer a cost-effective solution with high performance, enhanced security and drop-in compatibility with legacy NOR devices, enabling high-density SPI NOR adoption in consumer industrial and networking applications.

 

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Active Buzzers: Nokia Corporation (ADR) (NYSE:NOK), J.C. Penney Company, Inc. (NYSE:JCP) http://www.usmarketbuzz.com/nok-active-buzzers-nokia-corporation-adr-nysenok-j-c-penney-company-inc-nysejcp-1196 Fri, 13 Dec 2013 18:09:54 +0000 http://www.usmarketbuzz.com/?p=1196 J.C. Penney Company, Inc.(NYSE:JCP) is hoping to build a future by looking back. After continuous fall in sales over the last couple of years, the department store chain is reducing some high-profile brands brought in by previous CEO Ron Johnson. This includes the likes of jcp menswear as well as some Martha Stewart-designed home furnishings.

Free Urgent Insider Catalyst Report For JCP Available Here:  http://marketbuzzreport.com/index.php?code=JCP (Or Copy and paste the URL into your browser)

CEO Mike Ullman opined that the firm needs to edit some things which did not resonate adequately.

Penney is looking to free-up prime floor space for private-label brands that are more-profitable.

The retailer would be reintroducing Ambrielle lingerie soon and has already brought back the St. John’s Bay apparel line as well as JCP Home and Cooks.

The changes are a part of Ullman’s strategy for rebuilding the company whose sales have plummeted by over 25 percent after the previous CEO attempted to make stores upscale through elimination of popular brands.

Analyst Walter Loeb of Loeb Associates opined that the new CEO is looking to rebuild stores which have an appeal to the main customers of J.C. Penney.

Ullman was incharge of J.C Penney between 2004 and 2011 which had seen gross profit margins as well as sales of the company at an all-time high. But, the firm’s cost structure as well as sales per square foot was behind rivals which pushed it behind rivals.

Johnson dumped some important brands of Penney which resulted in hurting gross profit margins of the company along with costing the chain $4 billion in sales in 2012. The company is vigorously pushing for private label merchandise for reversing sales slide in order to ensure retention of customers.

While gadgets have made people used to sedentary lifestyles, it is great to see some technology which inspires to be up and running.

Finnish handset maker Nokia Corporation (ADR)(NYSE:NOK) is launching Motion Monitor after testing it for a few months on Lumia 1520.

Free Urgent Insider Catalyst Report For NOK Available Here:  http://marketbuzzreport.com/index.php?code=NOK (Or Copy and paste the URL into your browser)

The app would be tracking the movement as it is always in the background and would not have much of an impact on power consumption.

Customers can view activities by day, month or a year. One can also check activity as live tile on lock screen.

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Hot Buzzers: Federal Home Loan Mortgage Corp (OTCBB:FMCC), J.C. Penney Company, Inc. (NYSE:JCP) http://www.usmarketbuzz.com/hot-buzzers-federal-home-loan-mortgage-corp-otcbbfmcc-j-c-penney-company-inc-nysejcp-1054 Tue, 01 Oct 2013 18:09:46 +0000 http://www.usmarketbuzz.com/?p=1054 Wells Fargo & Co would be paying Federal Home Loan Mortgage Corp(OTCBB:FMCC) $869 million for repurchasing loans it had sold to mortgage firm which did not follow the guidelines.

Find Out Why GLCO Will Massively Outperform FMCC

The settlement was reached on September 27 between Freddie and Citigroup for repurchasing claims for $395 million. The mortgage-finance firm also agreed to have a similar deal with Bank of America two years back for $1.3 billion.

This is not the first time that the firm is paying for the mortgage practices. The bank was a part of a $25 billion landmark mortgage settlement in 2012 for giving financial relief to homeowners and changing lending practices.

The bank is also dealing with a lawsuit by US Attorney office of New York which accused the bank of selling loans to the Federal Housing Administration. Wells Fargo has confirmed that the agreement has solutions for all the repurchase claims for loans being sold to Freddie Mac before 2009. The settlement would not affect the bank earnings as it has kept money aside for the deal.

J.C. Penney Company, Inc. (NYSE:JCP) shares ended at 13-year low due to turnaround concerns. The firm is having a hard time to win back customers as well as keeping its customers intact. Even the credibility of the management is being questioned. The firm’s shares closed at $8.80, the lowest since 2000.

Find Out Why GLCO Will Massively Outperform JCP

Investors were concerns after the firm announced selling of 84 million shares for raising capital and intending to sell another 12.6 million soon. The firm also said that it would have just $1.3 billion by the year end vis-a-vis $1.5 billion projected earlier.

Penney made an effort to reassure investors of the turnaround effort as well as the progress it had made. It also reassured that same-store sales would be positive by third quarter.

The firm revealed the refurbished kids department last week but analysts opine that the firm’s home department remains a concern.

 

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