Orlando, FL -- (SBWIRE) -- 09/11/2013 -- 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 declined 1.81% to $44.58. The company on August 14 said its second-quarter profit edged up 0.7% as input costs declined slightly, although the department-store chain reported softer-than-expected sales amid what it called consumer uncertainty about spending on discretionary items.
For the quarter ended Aug. 3, the company reported a profit of $281 million, or 72 cents a share, compared with a profit of $279 million, or 67 cents a share, a year earlier. Net sales for the quarter slipped 0.8% to $6.07 billion. Analysts recently expected per-share earnings of 78 cents on revenue of $6.26 billion. Same-store sales slipped 0.8%.
Gross margin narrowed a hair to 41.8% from 41.9% even as input costs edged down 0.6%.
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 1.59% to $14.24. 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.
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 22 said its board adopted a shareholder rights plan intended to prevent new investors from gaining control of the company, after William Ackman, the company's largest shareholder, said this week that he may exit his stake in the struggling retailer. The plan, also known as a poison pill, is designed to dilute the value of a stock by flooding the market with additional shares, making it expensive for an investor to acquire a controlling stake.
Is JCP going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
Join Our Mobile SMS Alerts By Texting Stocks To 555888
HotStockProfits.com continuously monitors and scans the markets for day trading and swing trading signals on NASDAQ, NYSE, AMEX, OTCBB and Pink Sheet companies for its free e-newsletter subscribers.
HotStockProfits.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit HotStockProfits.com website, for complete risks and disclosures.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)