J C Penney Company Inc JCP shares are trading lower by 86 cents, or 18 percent, at $3.86 in Friday's session.
The catalyst for the decline is a Q2 EPS miss of 4 cents. Sales did come in better by $12 million, but that's being overshadowed by the EPS miss.
After a lower open, J C Penney immediately found support at $3.85 and reversed course. The ensuing rally took the stock to $4.17, but is now back on its lows for the session.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in