J.C. Penney Company, Inc. (NYSE:JCP) reported a smaller than expected loss, sending the stock higher by over 15% in early trading. Lower than anticipated loss The mass-market retailer reported a loss of $0.68 per share on $3.78 billion in revenue. Wall Street had projected $0.85 loss per share on slightly higher revenue, expected at $3.85 billion. A note of concern in the earnings statement was a one-time tax benefit as well as the gain from the sale of assets. Sears Holdings, a direct competitor of J.C. Penney Company, Inc. (NYSE:JCP), is having difficulty attracting customers and is also reporting losses,…
Why J.C. Penney Company, Inc. Stock Soared
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.