Orlando, FL -- (SBWIRE) -- 10/07/2013 -- 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 Macy's, Inc.(NYSE:M), J.C. Penney Company, Inc.(NYSE:JCP).
Macy's, Inc.(NYSE:M) shares dropped 0.32% to $44.07. The company on Sept. 23 announced the launch of an exciting, new brand of ties by multi-faceted entertainer, Nick Cannon. Available now in approximately 25 Macy's stores and on macys.com, the exclusive collection will feature up to 25 styles in-store monthly, with select styles online, including fashion-forward prints, bold colors and a variety of textures that give each tie a unique personality.
Additionally, the company on Sept. 30 said it plans to hire seasonal associates for approximately 83,000 positions at its Macy's and Bloomingdale's stores, call centers, distribution centers and online fulfillment centers nationwide for the 2013 holiday season. The company's 2013 seasonal hiring plan compares to approximately 80,000 in 2012 (an increase of about 3.8 percent).
Are investors worried about the recent updates with M? Find out with a free trend analysis HERE
J.C. Penney Company, Inc.(NYSE:JCP) shares dropped 6.54% to $7.86. Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/jcpenney/) on Oct. 1 announced that a class action has been commenced in the United States District Court for the Eastern District of Texas on behalf of purchasers of J.C. Penney Company, Inc. ("JCPenney") (NYSE:JCP) common stock during the period between August 20, 2013 and September 26, 2013 (the "Class Period").
Additionally, Fitch Ratings on Oct. 2 downgraded J.C. Penney Company, Inc. on expectations of the company spending more cash in 2013 than projected earlier. The rating agency lowered the company’s issuer default ratings (IDRs) to junk status of “CCC” from “B-”. Fitch anticipates J.C. Penney to spend $2.8–$3 billion in cash in 2013, a billion dollars more than its May forecast. Moreover, to procure cash, the company is seeking to offer about 96.6 million shares.
Is JCP going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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