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New York, NY -- (SBWIRE) -- 03/05/2013 -- StockRunway.com issues special report on the Gainers and Laggards of this morning – J.C. Penney Co. (NYSE:JCP), Williams Partners L.P. (NYSE:WPZ)
Stock of J.C. Penney Co. (NYSE:JCP) was one of the biggest laggards on the S&P 500 on a day when all three huge stock indexes were logging robust rallies.
The stock ran out of gas after Vornado Realty Trust (VNO) declared that it was selling 10 million shares of J.C. Penney Co. (JCP) late on Monday in an unregistered secondary deal, as per reported by a person closely related with the sale. Deutsche Bank AG (DB) is supervising the block deal, the person added. The agreement is predicted to price at a range of $16.40 and $16.60 per share, the person added.
How JC Penney (JCP) reacted on Tuesday session? Find out in this report
Shares of J.C. Penney Co. (NYSE:JCP) plunged 7% on Tuesday early morning. Vornado Realty Trust, the third biggest investor in the department store firm, sliced their hold in the underdog retailer in an unregistered secondary transaction, as per stated by reports.
Williams Partners L.P. (NYSE:WPZ) on Tuesday declared that it priced a public offering of 11,250,000 of its common units showing limited-partner stake at $49.14 per unit. The plan is predicted to end on March 8, 2013.
Williams Partners also gave the underwriters a 30-day option to buy up to afurther 1,687,500 common units.
What Williams Partners has got more for investors? Click here to reveal
Furthermore, Williams Partners has decided to sell 3,000,000 of its common units to Williams (WMB) in a private deal at a price per common unit equal to the public offering price in the offering, lower than the underwriting discount and commissions.
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