JC Penney's latest tangle has many folks speculating about whether there's another hedge fund battle brewing.
The retailer said it received a Notice of Default from law firm Brown Rudnick, which claims to represent an "ad hoc" group who hold more than 50% of JC Penney's bonds due in 2037.
JC Penney says the notice is "utterly without merit" but it's raised speculation as to who is behind this so-called ad hoc MORECatherine Tymkiw - Feb 5, 2013 12:33 PM ET
Auction site eBay continues to impress investors, thanks in large part to the ongoing success of PayPal.
Late Wednesday, eBay reported better-than-expected earnings and revenue for its latest quarter. And while the company issued slightly weaker guidance for the current quarter, its full-year outlook was rosier.
Shares of eBay (EBAY) rallied nearly 4% to a new 52-week high Thursday. The stock has been on a tear, soaring 41% over the past MORECatherine Tymkiw - Jan 17, 2013 12:22 PM ET
Paul R. La Monica - Jan 15, 2013 1:16 PM ET
Retailers have had a rough time lately, what with Superstorm Sandy, a sluggish economy and overall weak holiday sales.
You'd think dollar stores would be the exception. Not today.
Family Dollar missed earnings-per-share estimates by 6 cents a share and said profits the current quarter and full year would come in below forecasts. The company, which sells everything from baby care to home goods, blamed a worsening macro environment for ratcheting MORECatherine Tymkiw - Jan 3, 2013 2:01 PM ET
Retailers who were hoping for some holiday cheer have found coal in their stockings this year.
According to MasterCard's (MA) SpendingPulse report, retail sales leading up to Christmas rose a paltry 0.7% from last year, which wasn't exactly a stellar year for retailers either. And it was far below the 3% to 4% analysts had expected.
It's been a couple of tough months for retailers, no thanks to Superstorm Sandy. Sales fell MORECatherine Tymkiw - Dec 26, 2012 12:26 PM ET
Anyone spare a dollar?
Dollar General (DG) is having a rough day after reporting decent earnings but less-than-stellar guidance. Shares slumped nearly 5% Tuesday.
The discount retailer beat earnings-per-share estimates by 3 cents but that's where the good news ends. Revenue was just in line with forecasts, and Dollar General's outlook left investors with little to cheer about.
"Although our performance over the Thanksgiving weekend and start of the holiday season has MORECatherine Tymkiw - Dec 11, 2012 11:55 AM ET
Abercrombie & Fitch's stock surged more than 30% Wednesday, logging the biggest one-day jump since its stock market debut in 1996.
The big move came as the teen retail giant posted its first quarter of year-over-year profit growth in a year. For the three months ended Oct. 27, Abercrombie earned $71.5 million, or 87 cents per share, up 40% from a year earlier. Overall revenue rose 9% for the quarter to MOREHibah Yousuf - Nov 14, 2012 12:16 PM ET
JC Penney continues to struggle amid a massive overhaul effort.
Shares tumbled Friday, after the department store posted a $203 million loss for the third quarter.
JC Penney's (JCP) loss amounted to 93 cents a share for the quarter, more than thirteen times worse than what analysts were expecting. And sales at stores open at least a year declined more than 26% , the most since CEO Ron Johnson took the helm MOREHibah Yousuf - Nov 9, 2012 11:54 AM ET
Fossil's stock took a beating Tuesday, making it the second-worst performer on the S&P 500 (SPX) and Nasdaq (COMP), after the company reported weak revenue and cut back its sales outlook for the current quarter.
Fossil (FOSL) reported third-quarter sales of $684.2 million, falling short of the $713.1 million analysts had expected. Earnings fared better. Fossil beat earnings-per-share forecasts by 9 cents. But Europe, once again, reared its ugly head MORECatherine Tymkiw - Nov 6, 2012 12:30 PM ET
Some Wal-Mart workers have been protesting against the giant retailer's labor practices this week. And several employees from around the country descended on Wal-Mart's headquarters in Bentonville, Ark. Wednesday to stage a rally while executives were holding their annual investor day meeting with analysts.
But Wall Street doesn't seem too concerned by the latest bad press. Wal-Mart (WMT) shares were up more than 3% Wednesday afternoon, hitting an all-time high in MOREPaul R. La Monica - Oct 10, 2012 12:58 PM ET
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