Lakeway, TX -- (SBWIRE) -- 03/18/2013 -- Bestdamnpennystocks, 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:-
J.C. Penney Company, Inc.(NYSE:JCP) shares gained 8.79% to $16.85. An analyst at ISI Group on Mar. 13 said the company could turn its top 300 stores into a real estate investment trust-like entity that would sublet space to other brands.
Additionally, the company, on Mar. 8, said it is cutting an additional 2,200 jobs to trim costs as Chief Executive Officer Ron Johnson’s revamp of the department-store chain causes sales to plunge. The positions to be eliminated include back-office administrators in stores and district offices as well as store leadership positions.
How Should Investors Trade JCP After The Recent Movement? Find Out Here
Galena Biopharma Inc (NASDAQ:GALE) shares jumped 5.21% to $2.02 after the company today announced it has entered into an agreement with Orexo AB, a specialty pharmaceutical company based in Sweden, to acquire Abstral Sublingual Tablets for sale and distribution in the United States. Galena Biopharma will pay Orexo $10 million upfront and $5 million within the first twelve months of closing, plus low double digit royalties and one-time milestone payments based on pre-specified net sales.
Is GALE Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here
NII Holdings, Inc. (NASDAQ:NIHD) shares increased 3.24% to $4.77. The company, on Feb. 28, posted fourth quarter net loss of $592.9 million versus a profit last year of 3.2 million. On a per share basis, loss stood at $3.45 compared with a profit of $0.02 a year ago. Analysts estimated loss per share of $1.21 for the quarter. Operating revenue for the period slipped to $1.465 billion from $1.599 billion for the corresponding period last year, mainly dragged down by service and other revenues. Analysts were hoping for higher revenues of $1.50 billion.
Is NIHD a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here
Radian Group Inc. (NYSE:RDN) shares climbed 3.88% to $10.43. Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group, today announced the addition of 30-year mortgage industry veteran, Phillip Bracken, to the team. In the newly created role of Chief Policy Officer - Government and Industry Relations, Bracken will represent Radian on Capitol Hill, by promoting a more traditional balance between private and public capital in the mortgage finance market.
How Should Investors Trade RDN After The Latest Earnings Report? Find Out Here
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