J.C. Penney Refutes Chatter That CFO Is Exiting and 2 Other Hot Stocks to Watch
J.C. Penney & Co. (NYSE:JCP): Current price $12.78
On Tuesday, Penney’s denied chatter that its Chief Financial Officer Ken Hannah is leaving while shares fell to levels not seen since the end of the last century. J.C. Penney told FOX Business, “The speculation that Ken Hannah is stepping down as chief financial officer is completely false,” and that Hannah remains part of Chief executive Ullman’s “go-forward leadership team,” along with the recently-hired Debra Berman as the senior vice president of marketing. The iconic retailer named Hannah as CFO in May last year following service at General Electric, Boeing, and Home Depot. A spokesperson for Penney’s remarked, “The company has a highly experienced and focused leadership team in place as we head into the fall season.”
Sprint Nextel Corp. (NYSE:S): Current price $6.82
Sprint announced Wednesday that it will offer the LG G2 smartphone on the Sprint network later in 2013. Sprint Product Chief Fared Adib said in a statement, in part, “The new Sprint Unlimited Guarantee, available with an Unlimited, My Way or My All-in plan, is the perfect match for LG G2 because our customers can enjoy the powerful camera, huge screen, fast LTE speeds, and other innovative features while on the Sprint network without worrying about costly overages or sharing data. While other wireless providers are moving away from unlimited service, the Sprint Unlimited Guarantee allows our customers to lock-in unlimited talk, text, and data not for just the next two years, but for the life of the line of service.”
General Electric Co. (NYSE:GE): Current price $24.24
A knowledgeable source reports that GE is canceling the sale of its CareCredit health-care financing business since the bids received did not meet its expectations. The company was working with Goldman Sachs Group Inc. on the sale of the division, according to inside sources in June, who estimate that the business could bring $1 billion. CareCredit, as part of GE Capital division, is the number-one issuer of consumer health-care financing in the United States, said the New York Attorney General’s office. GE Chief Executive Jeffrey Immelt concentrated on shrinking GE Capital as the business faces heightened regulatory oversight from the Federal Reserve, which designated it as a potential risk to the financial system.
Don’t Miss: 6 Sobering Facts That Have Beer Makers Worried.