J.C. Penney Pushes Cashier ELIMINATION and 4 Stocks Slipping To 52-Week Lows
J.C. Penney Company (NYSE:JCP) Chief Executive Ron Johnson wants to replace the traditional checkout and employees standing at cash registers by the end of next year, according to Business Insider, citing comments Johnson made at Fortune’s Brainstorm Tech conference. The historic retailer, through its chief executive, is pushing mobile checkouts or self checkouts, and expects that its stores to be 100 percent fitted radio-frequency identification and wi-fi enabled in that time. Shares closed up 2.39 percent on the day at $19.71, and have been traded in a 52-week range of $19.09 to $43.18.
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Mako Surgical Group’s (NASDAQ:MAKO) Senior Vice President of Sales & Marketing, Steven Nunes, exited the form on Tuesday, with Chief Executive Maurice Ferre, M.D., assuming sales responsibilities until a new Vice President of Sales is named. Nunes’ departure comes following Mako’s shares being pummeled last week subsequent to a sales warning. Shares closed down 4.33 percent on the day at $13.49, having traded in a 52-week range of $13.41 to $45.15.
Quality Systems, Inc. (NASDAQ:QSII) shares are falling and those of athenahealth, Inc. (NASDAQ:ATHN) are moving up, on word that athena won a deal to supply business services to hospital operator Health Management Associates, Inc. (NYSE:HMA). Through the arrangement, athenahealth will provide business services to more than 1,200 medical groups; Quality Systems is currently supplying these services to Health Management Associates, and will be replaced by athenahealth, according to research firm Piper Jaffray, in a note to investors earlier Wednesday. Piper reacted to the news by raising its price target on athenahealth from $80 to $87, and keeping its Overweight. On the other hand, Piper Jaffray kept its Neutral rating on Quality Systems, which closed down 7.84 percent on the day at $23.97, having traded in a 52-week range of $23.93 to $50.70.
Rimage Corp. (NASDAQ:RIMG) posted a second quarter earnings estimate of 15 cents per share. Disappointing revenues from hardware due to slower than expected demand in Europe, plus the delay of several transactions in North America, were blamed for the low figure. Shares closed down 3.25 percent on the day at $7.75, and have traded in a 52-week range of $7.43 to $15.73.
Whiting USA Trust I (NYSE:WHX) shares lost more than a third of their value Wednesday, following the resumption of coverage by Stifel Nicolaus of the stock with a Sell rating. The firm estimates fair value for the stock at $7.00, remarking that it believes the units are seriously overvalued at their current levels. Shares closed down 34.42 percent on the day at $10.71, but have traded in a 52-week range of $15.25 to $19.15.
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