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JCP

J.C. Penney

$4.71

-0.45 (-8.72%)

08:43
08/11/17
08/11
08:43
08/11/17
08:43

J.C. Penney: July's sales trend has carried into early BTS selling season

Chairman and CEO Marvin Ellison said on the company's Q2 earnings conference call that J.C. Penney had positive comps in May, low single digit negative comps in June and approximately flat comps in July. Ellison said the sales trend in July has carried into the early back-to-school selling season. Ellison noted that omnichannel was "a big win" in Q2. He also said that there was much greater margin dilution that expected in Q2 following the liquidation of stores, believes this is isolated to Q2. He added that Q2 was a "unique quarter" based on the large number of liquidated stores. There has been no negative impact to ecommerce in zip codes where stores have closed, Ellison said. J.C. Penney is down over 23% in premarket trading.

  • 11

    Aug

JCP J.C. Penney
$4.71

-0.45 (-8.72%)

05/15/17
05/15/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas saying the bull thesis on Tesla centers around the company becoming the next Amazon (AMZN) or Apple (AAPL), Jonas tells investors in a research note. The analyst, however, questions if the risks of taking on the tech giants is sufficiently discounted in the share price. He expects "much larger and more well capitalized" competitors to unveil strategies that directly address sustainable transport and mobility. 2. J.C. Penney (JCP) was downgraded to Hold from Buy at Deutsche Bank, to Neutral from Outperform at Baird, and to Neutral from Buy at Buckingham. 3. STMicroelectronics (STM) downgraded to Hold from Buy at Stifel. 4. Level 3 (LVLT) and CenturyLink (CTL) were downgraded to Underperform from Market Perform at Raymond James. 5. TSMC (TSM) downgraded to Neutral from Outperform at Credit Suisse with analyst Randy Abrams saying headwinds from excess inventory, slower China smartphones, and Qualcomm (QCOM) shifts to Samsung (SSNLF) could pressure sales and margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/21/17
GDHS
06/21/17
NO CHANGE
GDHS
Nike-Amazon pact yet another department store headwind, says Gordon Haskett
Gordon Haskett analyst noted the reports of Nike (NKE) nearing a deal to sell directly on Amazon (AMZN), which he said wouldn't impact trends overnight but would represent another headwind for department stores, particularly J.C. Penney (JCP) and Kohl's (KSS), where the brand has a larger penetration than at Macy's (M) and Nordstrom (JWN). He keeps an Accumulate rating on Nordstrom, a Hold rating on Macy's and Reduce rating on both J.C. Penney and Kohl's.
06/26/17
GDHS
06/26/17
UPGRADE
Target $4.5
GDHS
Accumulate
J.C. Penney upgraded to Hold from Reduce at Gordon Haskett
Gordon Haskett analyst Chuck Grom upgraded J.C. Penney to Hold from Reduce with a $4.50 price target.
07/12/17
SBSH
07/12/17
NO CHANGE
Target $5
SBSH
Neutral
J.C. Penney price target raised to $5 from $4.50 at Citi
Citi analyst Paul Lejuez raised his price target for J.C. Penney to $5 from $4.50 after the retailer announced that Q2 sales had "significantly improved" versus Q1. The analyst upped his FY17 earnings per share estimate to 53c from 40c and keeps a Neutral rating on Penny.

TODAY'S FREE FLY STORIES

ENR

Energizer

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HOMB

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  • 18

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ADP

ADP

$102.89

-1.52 (-1.46%)

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TWX

Time Warner

$102.11

0.92 (0.91%)

, SNAP

Snap

$13.58

-0.43 (-3.07%)

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TWX

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$102.11

0.92 (0.91%)

SNAP

Snap

$13.58

-0.43 (-3.07%)

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  • 21

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KKR

KKR

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BZUN

Baozun

$34.60

0.62 (1.82%)

18:05
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Hot Stocks
Baozun reports Q2 Total Gross Merchandise Volume RMB3.604B »

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  • 21

    Aug

BZUN

Baozun

$34.60

0.62 (1.82%)

18:03
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Baozun sees Q3 revenue RMB870M-RMB910M »

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  • 21

    Aug

BZUN

Baozun

$34.60

0.62 (1.82%)

18:02
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Earnings
Breaking Earnings news story on Baozun »

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  • 21

    Aug

BZUN

Baozun

$34.60

0.62 (1.82%)

18:01
08/21/17
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18:01
Earnings
Baozun reports Q2 EPS 8c, consensus 10c »

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  • 21

    Aug

KKR

KKR

18:00
08/21/17
08/21
18:00
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18:00
Periodicals
KKR near 'clinching' $3B commitment from NYC pension system, Bloomberg says »

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ESV

Ensco

$4.19

-0.09 (-2.10%)

, NBL

Noble Energy

$23.54

-0.11 (-0.47%)

17:56
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Hot Stocks
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Ensco

$4.19

-0.09 (-2.10%)

NBL

Noble Energy

$23.54

-0.11 (-0.47%)

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  • 29

    Aug

  • 05

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GDOT

Green Dot

$46.58

0.31 (0.67%)

17:51
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Breaking Hot Stocks news story on Green Dot »

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RT

Ruby Tuesday

$1.84

-0.06 (-3.16%)

, RIG

Transocean

$7.32

-0.16 (-2.14%)

17:46
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Ruby Tuesday

$1.84

-0.06 (-3.16%)

RIG

Transocean

$7.32

-0.16 (-2.14%)

NDSN

Nordson

$125.12

0.99 (0.80%)

FN

Fabrinet

$39.82

-0.26 (-0.65%)

TEDU

Tarena

$18.61

0.59 (3.27%)

ZAYO

Zayo Group

$32.97

-0.08 (-0.24%)

PINC

Premier

$32.78

-0.16 (-0.49%)

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  • 21

    Aug

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RIG

Transocean

$7.32

-0.16 (-2.14%)

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  • 29

    Aug

RDN

Radian Group

$16.46

-0.26 (-1.56%)

17:38
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RT

Ruby Tuesday

$1.84

-0.06 (-3.16%)

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  • 21

    Aug

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SRNE

Sorrento Therapeutics

$1.70

-0.05 (-2.86%)

17:29
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  • 28

    Aug

GPN

Global Payments

$94.57

0.81 (0.86%)

17:24
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Global Payments Chairman William Jacobs sells 8,428 shares of company stock »

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NOC

Northrop Grumman

$267.70

0.09 (0.03%)

17:19
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  • 23

    Aug

BA

Boeing

$235.68

-0.09 (-0.04%)

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LMT

Lockheed Martin

$301.88

2.68 (0.90%)

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  • 23

    Aug

PBFX

PBF Logistics

$20.80

-0.05 (-0.24%)

17:11
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VZ

Verizon

$48.14

0.45 (0.94%)

17:10
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Periodicals
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  • 30

    Aug

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XOM

Exxon Mobil

$76.38

-0.26 (-0.34%)

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Exxon Mobil says fire at a refinery in Botlek, Rotterdam 

Reference Link

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  • 27

    Oct

TEAR

TearLab

$1.61

0.01 (0.63%)

17:03
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Syndicate
Breaking Syndicate news story on TearLab »

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