4 Consumer Stock Stories Getting Noticed On Tuesday
J.C. Penney & Co. (NYSE:JCP): Closing price $15.98
The New York State Supreme Court Judge Jeffrey Oing will hear closing arguments in regards to whether J.C. Penney can sell Martha Stewart branded bed, bath and kitchen home goods on August 1, and will state his verdict soon afterwards, says the court calendar. Macy’s says that rights to the merchandise is exclusive to it under a long-standing arrangement. Meanwhile, Penney’s owns a 17-percent interest in Martha Stewart Living. The judge will also rule whether Penney can sell certain Martha Stewart-designed goods. Oing has said that he will render a verdict soon after summations, according to Reuters.