JCPenny Rebounds After Accord With Martha Stewart and 2 Other Hot Stocks to Watch
JC Penney & Co. (NYSE:JCP): Current price $6.54
Penney’s shares are up by between 3 and 4 percent Tuesday after the historic retailer agreed to alter its agreement with Martha Stewart Living Omnimedia in a manner that will hopefully make Macy’s lawsuit go away. Reuters reports that the modified arrangement allows Martha Stewart’s company to design its branded products for J.C. Penney in window treatment, holiday, and other categories that have not been claimed by Macy’s. Besides that, Penney’s also sold off its 17-percent stake in Martha Stewart’s company.
Facebook Inc. (NASDAQ:FB): Current price $53.269
The Philippine telecommunications major Globe Telecom is allowing its more than 36 million subscribers free access to Facebook on mobile phones for an initial period of three months. Globe has collaborated with Facebook to enable customer experience innovations for the free Facebook offer, which is available to all its customers using feature phones and smartphones, and accessing either via the mobile site of Facebook or the Facebook app. Users may post, like, comment, chat, add friends, upload photos, share posts, and more on Facebook without having to use Wi-Fi.
Regions Financial Corp. (NYSE:RF): Current price $9.77
Regions Financial has posted a 5.3 percent fall in profit, missing analysts’ estimates while the bank was unable to reduce expenses, and mortgage refinancings declined. Net income at Alabama’s number-one bank slipped to $285 million, or 20 cents a share, from $301 million, or 21 cents, year-over-year, according to a Tuesday statement. Consensus of 27 analysts surveyed by Bloomberg had been 21 cents. Shares are down around 2 percent in heavy trading.