Prudential Insurance will take over J.C. Penny's administration and benefit payments to retirees to cut its pension obligation.» Read More
Creamer entered Hogg Auditorium to a huge, Lone Star State, Longhorn booyah from the McCombs School of Business at The University of Texas at Austin. He knew that because everything is bigger in Texas, he had to bring, not just one or two, but four great stocks based right in Texas if he was going to impress the locals. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Guess who will be caught in the crosshairs next week? You! Consumer confidence is down, gas prices are jumping and the housing market is cracking . And next week, major retail chains including JC Penney, Macy’s and Target will give winter sales figures. It’s judgement week for the consumer and retail stocks. Will they rescue this market or drag it down?
Cramer tells you what to do with AT&T, Retail Ventures, Choice Hotels and more.
Stocks closed mostly lower, dragged down by higher energy prices and defiance from Iran. Technology rallied on strength in computer chips, giving the Nasdaq a boost. "Investors are somewhat cautious at these market levels," Michael Sheldon, Chief Market Strategist at Spencer Clarke, told CNBC.com.
J.C. Penney Chief Executive Mike Ullman is feeling good about the retailer's prospects for 2007 -- even though the company lowered its first-quarter forecast below analysts' expectations earlier Thursday. "We are very confident about the total year," Ullman told CNBC's Becky Quick. "The first quarter is not the strongest quarter in terms of the comparison."
J.C. Penney said fourth-quarter earnings fell 13% on a higher tax expense, and issued profit guidance for the first quarter below analysts' expectations. Investors were disappointed with the weak first quarter outlook, as shares fell as much as 4% earlier. But Mike Ullman, J.C. Penney's chairman and chief executive, told CNBC he's confident the retailer will make up for any first-quarter weakness during the rest of the year.
The biggest winner of the Oscars has already started to collect. It's not a celebrity or producer, it's ABC. The network recently wrapped up its ad sales for the telecast on the 25th, grabbing more than $1.6 million per thirty-second spot, for over $80 million dollars in revenue. That's double the revenue in 1998, and up from $72 million total last year.
Driven by soothing words from the Fed Chairman and the market's own mania for deals, stocks closed out last week on a high note. This week, traders will be ready to pounce on any news that will reinforce the view that the Fed might cut rates this year after all.
Frigid winter winds blew life into U.S. retailers' January sales as consumers snapped up cold weather clothes.
Retailers reported mixed sales for December, as unusually warm weather hurt sales of winter apparel but stores with high-end or big-ticket items lured shoppers at the end of the month.
Which retail stocks should investors keep an eye out for in ’07? Robert Buchanan, retail analyst for A.G. Edwards, and Dana Telsey, retail analyst and chief research officer for Telsey Advisory Group, were on “Morning Call” to give their picks. Buchanan has a buy on J. C. Penney . He says a slowing has already occurred and the company is poised for growth in the new year. Buchanan especially likes the management at Penney.
Catherine West, 47, was named executive vice president and COO in June and previously worked for Capital One Financial, where she had been president of its U.S. card business. Her termination was effective immediately, J.C. Penney said in a brief statement.
Stocks closed slightly higher after giving back big gains from an early session surge.
Retail sales in the U.S. rose a paltry 2.1% in November. Now the race is on to capture valuable holiday shopper dollars before the end of the season. But are the discounts being offered to lure customers into stores shaving too much off the retail industry’s profit margins? Marshall Cohen – chief retail analyst at NPD Group – seems to thinks so.
Stocks closed mostly lower amid higher oil prices and a surprising decline in Midwest business activity.
Black Friday and Cyber Monday are behind us; the madness of the final shopping countdown lies ahead. Where does U.S. retail stand today? Richard Hastings, senior retail analyst at Bernard Sands, and Standard & Poor's Retail Analyst Jason Aseyda weighed in on “Morning Call.”
Retailers reported mixed November same-store sales, with nearly half falling short of forecasts.
Nearly half of holiday shoppers are expected to spend the same amount as they did last season, according to a new CNBC poll.