Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On J.C. Penney Company, Inc.(NYSE:JCP), Pan American Silver Corp. (USA) (NASDAQ:PAAS).
J.C. Penney Company, Inc.(NYSE:JCP) shares dropped 3.11% to $12.76. Pershing Square Capital Management, L.P., on behalf of its investment funds (the "Selling Stockholders"), announced on August 27 that the previously announced underwritten offering of 39,075,771 shares of J.C. Penney Company, Inc. JCP +3.44% common stock owned by them, priced to the public at $12.90 per share. J.C. Penney will not receive any proceeds from the sale of the shares by the Selling Stockholders in this offering. The offering is expected to close on August 30, 2013, subject to certain customary conditions.
Additionally, the company on August 20 announced financial results for its fiscal second quarter ended August 3, 2013. The Company also reported on its initiatives to fix and stabilize the business and return to profitable growth. The company reported net sales of $2.66 billion compared to $3.02 billion in the fiscal second quarter of 2012. For the second quarter, the Company incurred a net loss in the amount of $586 million or $2.66 per share. Adjusted net loss for the quarter was $477 million, or $2.16 per share.
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Pan American Silver Corp. (USA) (NASDAQ:PAAS) shares fell 2.72% to $12.53. The company’s Board of Directors has approved the third quarterly cash dividend of 2013 in the amount of $0.125 per common share. Should the Company's Board of Directors continue to approve future quarterly dividends in the same amount, the annual cash dividend paid by Pan American would be $0.50 per common share, which represents a yield of approximately 3.6% based on the Company's closing share price on August 14, 2013.
Additionally, the company on August 15 said it produced 6.2 million ounces of silver and 29,900 ounces of gold during the quarter ended June 30, 2013 , generating revenue of $175.6 million and operating cash flows before interest and income taxes of $23.7 million.
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