real-time news and commentary for investors
Wednesday, Sep 25
J.C. Penney hits 12-year lows
- J.C Penney (JCP -13.6%) falls on heavy volume as the bad news for the retailer keeps piling up.
- Cleveland Research says its channel checks show JCP's Q3 sales are weak and isn't predicting positive comparable store sales growth for Q4.
- Goldman Sachs has its hands deep into the J.C. Penney mess with loans and investment banking advice, but that isn't stopping the firm from issuing a dire report this morning that's tipping sentiment.
- Bill Ackman left the JCP party early - but George Soros, Glenview Capital, and Mark Cuban are still around to turn off the lights.