Sellers Hound J.C. Penney, Abercrombie, Staples Shares, OraSure Shines
J.C. Penney Company, Inc. (NYSE:JCP): Stacey Widlitz believes that J.C. Penney’s Q1 blowup may be the result of consumers just enjoying deals, as evidenced by the Ron Johnson-led tactic of promoting pricing without promotions, and subsequent drops in store traffic. New brands are planned for debut, but whether investors want to wait to see their effects waits to be seen. JCP shares are trading 17.92% lower.
A Closer Look: J.C. Penney Earnings Cheat Sheet>>
Abercrombie & Fitch Co. (NYSE:ANF)’s Board of Directors upped the company’s existing share repurchase authorization by 10M shares; the new total of available shares for purchase under its publicly announced shares repurchase authorization is now 12.9M. Additionally, the retailer’s shares fell considerably following its outlook on FY12 earnings and a prediction for continued global sales challenges. Shares are trading 15.37% lower.
OraSure Technologies, Inc. (NASDAQ:OSUR): Following a positive vote on its HIV test from an FDA panel, OraSure is up 28.5%. The FDA Blood Products Advisory Committee issued a unanimous recommendation for the OraQuick In-Home HIV Test. The company’s shares are now trading 14.84% higher.
ABIOMED, Inc. (NASDAQ:ABMD) predicts FY13 revenue of $152-$157M with consensus $150.45M, and FY13 Impella revenue worldwide up by 30%. ABIOMED Inc. shares are trading 2.23% lower today.
Staples, Inc. (NASDAQ:SPLS): Retail sales for the company are reported as flat Y/Y in North America ($2.3B), with International Operations having fallen 8% to $1.2B. Predictions for the year presume small growth in America and soft demand in Europe, with entire year sales growing in low single digits. Staples shares are trading lower by 6.27% today.
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