Published March 11, 2014
J.C. Penney May Be Wall Street's Comeback Kid and Other #Stocks2Watch
Penney May Be Wall Street's Comeback Kid
J.C. Penney shares rallied in the pre-market after Citigroup upped the retailer's rating to 'buy' from 'neutral.'
J.C. Penney (NYSE:JCP) | Bon-Ton Stores (NASDAQ:BONT)
FOX Business Assignment Editor Jessica MacKenzie says she's watching shares of J.C. Penney (NYSE:JCP). The shares are rallying 6% after analysts at Citigroup upped the retailer to ‘buy’ from ‘neutral.’ Citi also hiked its price target on the stock to $11 from $7.50.
MacKenzie also adds that there is a "connection with Bon-Ton Stores (NASDAQ:BONT)." She writes:
Bon-Ton earnings topped estimates, but revenue dropped 9.6% and same-store sales slid 7.3% last quarter. In addition, Bon-Ton CEO Brendan Hoffman has declined to renew his contract so he will exit next year.
Now comes the interesting part, from WSJ Market Talk: Hoffman, “who has executed several retail turnarounds, has had his name thrown around as a possible CEO for J.C. Penney.”
American Eagle Outfitters (NYSE:AEO)
American Eagle Outfitters (NYSE:AEO) revealed a sharp drop in fourth-quarter profits amid discounting, and warned it will likely earn less than Wall Street expected for the current quarter.
The shares are sliding 5%.
Macy's shares are jumping after analysts at Wells Fargo reportedly upped their rating on the retailer to 'outperform' from 'market perform.'
Boyd Gaming (NYSE:BYD)
Activist investor Elliott Associates revealed a nearly 5% stake in Boyd Gaming (NYSE:BYD). Shares of the casino operator are soaring 16%.
La Jolla Pharmaceutical (NASDAQ:LJPC)
La Jolla Pharmaceutical (NASDAQ:LJPC) shares are skyrocketing by almost 70% after the small-cap pharmaceutical firm reported upbeat results from a drug aimed at fighting chronic kidney disease.