Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

JC Penney's (NYSE:JCP) Ups and Downs May Continue


The retailer's stock has been on a roller coaster ride that doesn't show signs of ending just yet.

MINYANVILLE ORIGINAL After JC Penney's (NYSE:JCP) stock experienced a brief spike on Wednesday, it was quick to fall a massive 11% Thursday. These shifts are in response to the department store's analyst day, held on Wednesday, wherein the company's new CEO Ron Johnson outlined his expectations for the future of the store. During the event, Johnson was quick to write off the rest of this year, being realistic about the long road that the company needed to travel to ensure its future. However, a tour of a new prototype store generated positive reviews, which may have been the cause of the initial upturn.

Johnson, a former executive at Apple (NASDAQ:AAPL), is optimistic about JC Penney's long-term future and seems to have a plan to ensure the company's long-term prosperity. Citigroup (NYSE:C) remains confident that Johnson will prove its bullish thesis on the company, while representatives from Deutsche Bank (NYSE:DB) seem to be waiting for better signs. In an article from the Wall Street Journal, a Deutsche Bank representative is quoted as saying, "JC Penney is taking steps in the right direction, but the road to recovery is still a few years away... As for the stock, after a massive move in the past five weeks, we think some of the air needs to come out of the proverbial bubble as reality sets in."

< Previous
No positions in stocks mentioned.
Featured Videos