JCPenney Rebounds Following Positive Word on Turnaround and 2 Other Hot Stocks to Watch
J.C. Penney Co. (NYSE:JCP): Current price $10.86
After J.C. Penney’s shares have fallen near 13-year lows over worries about its business, the veteran retailer announced Thursday that it is pleased with its turnaround efforts thus far. Besides that, the company also is seeing strength online and still forecasts that a key revenue metric will move up in the fourth quarter. Meanwhile, shares are up about 6.5 percent in late-morning trading. Penney’s is attempting to recover from a flawed transformation plan led by its former Chief Executive Ron Johnson that caused disastrous financial results.
Bank of America Corp. (NYSE:BAC): Current price $14.12
The Equal Employment Opportunity Commission brought a lawsuit Wednesday against BofA for its failure to provide a sign language interpreter for a deaf employee in Las Vegas, eventually firing her because of her disability. Melchora Lee was dismissed from the bank in 2010, and the suit seeks back pay and unspecified damages. Commission officials say that Lee started working as a cashier in 1998 and at that time had a supervisor who could communicate with her in sign language. However, from 2003 she was supervised by managers who did not know ASL. The suit alleges that the bank ignored her requests for an interpreter, damaging her performance, and leading to her being sacked.
Alcatel-Lucent (NYSE:ALU): Current price $3.67
Anonymous inside sources say that the Nokia Corp. board has discussed a link-up with Alcatel-Lucent, now that the former has divested its mobile handset unit in a $7.1-billion sale to Microsoft Corp. However, it is also said that no formal talks between Nokia and Alcatel-Lucent have occurred. At the end of August, NSN and Alcatel-Lucent each won some 10 percent of $3.2 billion in contracts awarded by China Mobile Ltd. for the build-out of the Chinese firm’s 4G network.