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It seems like the start of another bad week for shares of J.C. Penney (NYSE:JCP), as new rumors surface that the historic retailer’s strategy of rebranding itself is getting resistance from within. Shares marked a new 52-week low at $21.34, before moving back up by a few cents.
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Comcast (NASDAQ:CMCSA) will have its appeal of a lower court ruling that permitted cable subscribers in Philadelphia to sue over the allegation that the company monopolized the market and overcharged them, heard by the United States Supreme Court. The case will be scheduled on the docket for sometime in the autumn.
Have the New York City Soda Wars come to this? Coca-Cola (NYSE:KO) and PepsiCo (NYSE:PEP) will mimic Big Tobacco by using consumer sovereignty – the right of consumers to select the products they want – to counter not only their most visible antagonist, Mayor Bloomberg, but also increasing chatter of the possibility that soda products could be restricted from the food stamp program. The latter would be infinitely more far-reaching than a large soda container ban in NYC, if it should gain traction with the regulating agency.
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