JCPenney Rebounds Following Positive Word on Turnaround and 2 Other Hot Stocks to Watch
J.C. Penney Co. (NYSE:JCP): Current price $10.86
After J.C. Penney’s shares have fallen near 13-year lows over worries about its business, the veteran retailer announced Thursday that it is pleased with its turnaround efforts thus far. Besides that, the company also is seeing strength online and still forecasts that a key revenue metric will move up in the fourth quarter. Meanwhile, shares are up about 6.5 percent in late-morning trading. Penney’s is attempting to recover from a flawed transformation plan led by its former Chief Executive Ron Johnson that caused disastrous financial results.