Gainers Recap: Best Buy Co., Inc.(NYSE:BBY), QEP Resources Inc (NYSE:QEP), Devon Energy Corp (NYSE:DVN), J.C. Penney Company, Inc. (NYSE:JCP)

Lakeway, NY -- (SBWIRE) -- 03/08/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Best Buy Co., Inc.(NYSE:BBY) shares climbed 2.72% to $19.26. The company, on Mar. 1, posted fiscal fourth- quarter adjusted profit that topped analysts’ estimates and said the retailer will focus on continuing its turnaround after failing to receive a takeover offer from its founder. The fourth-quarter net loss narrowed to $409 million, or $1.21 a share, from a loss of $1.82 billion, or $5.17, a year earlier. Sales rose 0.2 percent to $16.7 billion, topping analysts’ average estimate of $16.3 billion and snapping a streak of two quarterly declines.

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QEP Resources Inc (NYSE:QEP) shares jumped 2.72% and closed at $30.63 in the last trading session. QEP’s stock was downgraded by Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Feb. 21. They currently have a $34.00 price target on the stock, down from their previous price target of $46.00.

Additionally, the company announced its earnings results on Feb. 19. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.02. Analysts expect that QEP Resources will post $1.43 EPS for the current fiscal year.

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Devon Energy Corp (NYSE:DVN) shares gained 2.71% to $55.79. The company, on Mar. 6, announced that its board of directors has approved a 10 percent increase to its quarterly cash dividend on the company's common stock from $0.20 per share to $0.22 per share. The increase is effective with the dividend payable on June 28, 2013 to shareholders of record as of the close of business on June 14, 2013.

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J.C. Penney Company, Inc. (NYSE:JCP) shares climbed 2.70% to $14.82. Martha Stewart, on Mar. 6, said she was shocked that Macy's Inc had objected so strongly when she signed a deal with rival retailer J.C. Penney Co Inc. Stewart was testifying in a trial over claims by Macy's that her agreement to sell certain products in J.C. Penney stores violated an existing contract to sell her products at Macy's.

Additionally, the company last week reported a net loss of $552 million, or $2.51 per share in the 14 weeks ended February 2, compared with a loss of $87 million, or $0.41 per share for a 13-week period a year earlier. The company posted an adjusted loss of $1.95 per share, as net sales fell 27 percent to $3.88 billion.

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