J.C. Penney ELIMINATES 350 Jobs and 4 Spotlight Stocks Tuesday
J.C. Penney (NYSE:JCP) tosses 350 jobs at its home office as part of a restructuring move announced previously. Many will be shocked to see that CEO Ron Johnson survived the purge.
KLA-Tencor (NASDAQ:KLAC) announced at an industry conference that it projected its fiscal fourth quarter revenue to be at the high end of the company’s guidance range, and shares fell in reaction. However the chip equipment producer has repaired its losses, and in addition projects bookings to improve in its fiscal second quarter following a weak (current) fiscal first quarter. KLAC announced a dividend hike earlier Tuesday.
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Oracle (NASDAQ:ORCL) snaps up yet another social media marketing startup, Involver being the target this time. The latter offers a platform which brands can utilize so as to build custom Facebook pages and applications, and also to manage social media conversations on multiple networks. The buyer recently also purchased Collect Intellect and Vitrue, but elected to buy Buddy Media, a subsequent $689 million acquisition by Salesforce.com (NYSE:CRM).
Arena Pharmaceuticals (NASDAQ:ARNA) shares move up in heavy volume, and continuing the upward pattern it’s experienced since April due to excitement over its Belviq obesity treatment.
Junior gold miner Jaguar Mining (NYSE:JAG) shares collapse in unusual trading Tuesday. The firm says that it is unaware of any developments that might “merit such activity.”
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