Stocks in Focus: Affymax, Cliffs Natural Resources Inc, McEwen Mining Inc, J.C. Penney Company

Lakeway, TX -- (SBWIRE) -- 03/05/2013 -- 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:-

Affymax, Inc.(NASDAQ:AFFY) shares declined 5.97% to $2.52. Ryan & Maniskas, LLP, last week, annnounced that a class action lawsuit has been filed in the United States District Court for the United States District Court for the Northern District of California on behalf of purchasers of AFFY common stock during the period between December 8, 2011 and February 22, 2013.

Additionally, Affymax announced last week that AFFY and Japanese partner Takeda Pharmaceutical (PINK:TKPYY) were pulling back injectable units of its anemia drug Omontys amid news of severe reactions and even death in some patients.

How Should Investors Trade AFFY After The Recent Movement? Find Out Here

Cliffs Natural Resources Inc (NYSE:CLF) stock fell 5.82% to $23.78. CLF’s stock had its target price cut by Citigroup to $32.00 in a research note issued to investors on Feb. 19.

Additionally, the company released its earnings data on February 12. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion.

Is CLF Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here

McEwen Mining Inc(NYSE:MUX) shares dropped 5.76% and closed at $2.29. The Company, on Feb. 12, announced that operations at its 49% owned San José mine (in Santa Cruz Province), Argentina were halted on Monday, February 4, 2013 due to seventy-six employees contracting gastroenteritis.There have been no further cases reported and all employees have recovered in full, the company said in a statement.

Is MUX a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

J.C. Penney Company, Inc. (NYSE:JCP) shares dropped 5.37% to $16.74 after CNBC, citing sources, reported that Deutsche Bank is offering a 10 million block of J.C. Penney shares at between $16.40 and $16.60.

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.

How Should Investors Trade JCP After The Latest Earnings Report? Find Out Here

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