J.C. Penney (NYSE:JCP) – “You’re invited. We can’t wait for you to see the new and improved JCP. Please use this $ 10 gift or your next in-store purchase of $ 10 or more. Through Sunday, November 4.” That’s how a coupon sent out by the retailer reads on the e-mail. Shares of JCP are up as investors anticipate an influx of traffic to its newly revamped stores.
BP (NYSE:BP) and Transocean (NYSE:RIG) have been notified by the Coast Guard through issue of notice of federal interest, that a new oil sheen located in the vicinity of the ill-fated Deepwater Horizon drill rig that caused the massive oil spill in the Gulf. “The NOFI effectively informs BP and Transocean that the Coast Guard matched the sheen samples to the Deepwater Horizon spill or sunken drilling debris and that either party or both may be held accountable for any cost associated with further assessments or operations related to this sheen.” However, it appears that the sheen does not pose a risk to the shoreline.
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According to a report in Reuters, GlaxoSmithKline (NYSE:GSK), which was recently fined $ 3 billion for having allegedly concealed safety issues, is seeking to make amends by making available detailed data from its clinical trials to other researchers. The company believes its action would help in the development of new drugs as well as put the industry in a better light.
Safeway Inc. (NYSE:SWY) reported net income of $ 108 million ($ .45 a share) compared to $ 130.3 million ($ .38 a share) in the year ago quarter. Revenues were down .2% to $ 10.05 billion. Income was in line with estimates though revenue fell short of the expected $ 10.33 billion. Same-store sales are up 1% on higher volumes. The retailer confirmed its 2012 EPS guidance of $ 1.90 to $ 2.10.