On Monday, Shares of J. C. Penney Company, Inc. (NYSE:JCP), gained 4.69% to $8.92.
The firm had its underweight rating reiterated by analysts at Morgan Stanley. They presently have a $6.00 target price on the stock.
J.C. Penney Company declared financial results for its second quarter ended August 1, 2015. The Company stated net sales of $2.88 billion contrast to $2.80 billion in the second quarter of 2014. Same store sales raised 4.1 % for the period.
2015 Full-Year Outlook
The Company improved its SG&A and EBITDA guidance and reiterated its remaining 2015 full-year guidance as follows:
- Comparable store sales: predictable to enhance 4 percent to 5 percent;
- Gross margin: predictable to improve 100 to 150 basis points;
- SG&A: predictable to decrease about $120 million (contrast to the previous expectation of a $100 million decrease);
- EBITDA: about $620 million (contrast to the previous expectation of $600 million);
- Primary pension plan expense: about $19 million;
- Depreciation and amortization: about $615 million;
- Interest expense: about $415 million
- Capital Expenditures: $250 to $300 million; and
- Free cash flow: predictable to be breakeven.
J.C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating.
Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), declined -2.17% to $1.80, during its last trading session.
Topeka Capital Markets assumed coverage on shares of the firm in a report issued on Thursday morning, Market Beat Ratings reports. The brokerage issued a hold rating and a $2.00 target price on the semiconductor manufacturer’s stock.
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company’s products primarily comprise x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs), and semi-custom System-on-Chip (SoC) products.
Finally, Fifth Third Bancorp (NASDAQ:FITB), ended its last trade with 0.09% gain, and closed at $21.13.
Regulators have pushed Fifth Third Bancorp to change the way it makes car loans.
The federal Consumer Financial Protection Bureau projected the changes in a letter to Fifth Third (Nasdaq: FITB) officials in the past month, according to the Wall Street Journal. Those changes are aimed at Fifth Third reaching a settlement with the CFPB regarding auto-lending practices that could lead to car dealer discrimination, according to the Journal report.
Fifth Third, Cincinnati’s largest locally based bank and the nation’s 16th-biggest, declined to comment on the matter. A CFPB spokesman said the agency wouldn’t comment on any pending investigations.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
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