Judge Rules JC Penney Interfered With Macy's Agreement With marth Stewart's Omnimedia

News is breaking that a NY Judge has issued a ruling that JC Penney JCP interfered with Macy's M agreement with Martha Stewart Living Omnimedia MSO. Martha Stewart Omnimedia spiked as the news hit the wire and the robots gave JCP whiplash as traders sold on the stock on the news only to buy it back before selling it again and leaving the shares basically unchanged. Macy's didn't have any response to the news, the stock remains flat.
Macy's filed a lawsuit earlier this year alleging JC Penney infringed upon Macy's agreement with Martha Stewart intentionally. Macy's had basis for their claims as emails showed JC Penney CEO Ron Johnson telling another executive that he was urging Stewart to “talk to Macy’s about a break in a tight, exclusive agreement.” Stewart tried to argue that the contract with Macy's couldn't have been breached as the agreement with JC Penney would be to sell products not covered under the Macy's agreement.
Macy's has blocked JC Penney from gain marth Stewart's "store within a store" but at the same time receives nothing in compensation, as the judge stated in the report that "Macy's failed to prove it's entitled to punitive damages".  

Macy's is trading up roughly 20 cents on the news to $57.38.  JC Penney trading is slighly volatile as the stock is trading a whipsaw range between $8.51 and $8.54.  Marth Stewart Omnimedia hardly trades, it's only trades for today were on the news and the stock is up almost 5 percent or 20 cents to $4.33 per share.