Kolkata, West Bengal -- (SBWIRE) -- 09/06/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Alcatel Lucent SA (ADR) (NYSE:ALU), Advanced Micro Devices, Inc. (NYSE:AMD), J.C. Penney Company, Inc. (NYSE:JCP).
Alcatel Lucent SA (ADR) (NYSE:ALU) shares climbed 1.97% to $3.10. The company on August 28 announced that it has appointed Jean Raby as its new finance chief, as the telecommunications-equipment maker continues its turnaround under the leadership of its new chief executive. Mr. Raby, 49, a former partner and managing director at Goldman Sachs Group Inc.'s investment bank division, will become chief financial and legal officer as of Sept. 1, replacing Chief Financial Officer Paul Tufano, the company said.
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Additionally, the company on August 10 lowered the interest rate it will pay on a $1.74 billion, six-year term portion to 4.75 percentage points more than the London interbank offered rate with a 1 percent minimum, down from 5 percentage points, according to a person with knowledge of the transaction. A 299 million-euro ($399 million) portion, also due in six years, will pay 5.25 percentage points more than the lending benchmark, in line with what was initially proposed, said the person, who asked not to be identified because terms are private.
Moreover, the company is seeking to reduce the rate on about $2.1 billion of loans it obtained in January, according to a person with knowledge of the deal on August 1.
Advanced Micro Devices, Inc. (NYSE:AMD) shares climbed 3.02% to $3.41. The company on Sept. 2 announced a double win at the International Public Relations Association's 2013 Golden World Awards. AMD was named winner in two categories for its PR campaign conceived for the launch of the AMD Radeon™ HD 7990 graphics card.
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Additionally, the company on August 22 announced that its Singapore subsidiary, Advanced Micro Devices (Singapore) Pte Ltd. (AMD Singapore), has entered into a conditional put-and-call option agreement to sell and lease-back its Singapore facility located at 508 Chai Chee Lane, Singapore 469032 to HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT). The transaction is expected to generate proceeds of approximately 59 million Singapore dollars (USD$46 million), net of all fees, which will be reflected in AMD's third quarter 2013 financial statements when reported on Oct. 17, 2013.
J.C. Penney Company, Inc.(NYSE:JCP) shares climbed 5.33% to $14.22. Hedge-fund manager Kyle Bass, of Hayman Capital Management LP, disclosed a 5.2% stake in J.C. Penney Co. Inc. (JCP), placing Mr. Bass among the company's largest stockholders. Mr. Bass holds 11.4 million of the department store retailer's shares, according to a filing with the Securities and Exchange Commission on Sept. 3.
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Additionally,Pershing Square Capital Management, L.P., on behalf of its investment funds, said on August 27 that the previously announced underwritten offering of 39,075,771 shares of J.C. Penney Company 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.
Moreover, the company on August 20 announced financial results for its fiscal second quarter ended August 3, 2013. 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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