J.C. Penney Rebrand Effort Meets HEADWINDS and 3 Hot Stocks in Our Sights
Office Depot, Inc. (NYSE:ODP): Resulting from a new partnership, Rubbermaid storage products will now be available at Office Depot retail stores nationwide as well as online. ODP shares recently traded at $2.06, down $0.18, or 8.04%.
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J. C. Penney Company, Inc.’s (NYSE:JCP) attempt to rebrand itself is being resisted within the company, say various rumors. The shares fell to a new 52-week low of $21.34 before it regained some ground. JCP shares recently traded at $21.78, down $.78., or 3.86%.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) was downgraded by BMO Capital due to valuation. The company is given a $10 price target. ARNA shares recently traded at $9.33, down $0.55, or 5.57%.
Quest Software Inc. (NASDAQ:QSFT) has announced the receipt of a strategic bidder’s proposal to acquire all outstanding shares of Quest’s common stock for $27.50 per share in cash. Acting via the special committee of independent directors which was established by Quest’s Board of Diectors, the Board has decided that a Superior Proposal is constituted by the proposal. Reuters identifies Dell (NASDAQ:DELL) as the “strategic bidder.” QSFT shares recently traded at $27.58, up $1.36, or 5.19%.
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