J.C. Penney Surges Midday as Horizon Brightens

J.C. Penney

Northstar Realty Finance Corp. (NYSE:NRF), J.C. Penney Company, Inc. (NYSE:JCP) and Charter Communications, Inc. (NASDAQ:CHTR). have started off the week strong and are today’s top gainers midday. On the losing end are Applied Micro Circuits Corporation (NASDAQ:AMCC), Angie’s List Inc (NASDAQ:ANGI) and Baidu Inc (ADR) (NASDAQ:BIDU).

J.C. Penney reaches a nine-month high

Today’s biggest gainer midday is Northstar Realty Finance Corp. (NYSE:NRF), up +8.11%. The real estate investment firm, a Daniel Loeb pick, has cut a new deal with  22nd Century Group.

Jumping +6.52% is retail giant J.C. Penney Company, Inc. (NYSE:JCP). The George Soros asset has rallied after Friday’s news of consumer sentiment reaching a nine-month high, cutting its YTD losses to -6.38%.

Rounding out today’s list of gainers is Charter Communications, Inc. (NASDAQ:CHTR), which surged x.xx% following news that Comcast Corporation plans to sell nearly four million extra subscribers as part of a two-stage deal between the companies. George Soros, Farallon Capital Management, Tiger Global and Steve Mandel have positions in Charter.

Baidu is Back in the Red

After last Friday’s rally, Applied Micro Circuits Corporation (NASDAQ:AMCC) dipped -11.21% today, rendering it this Monday’s biggest midday loser. AMCC is a Tiger Global pick.

Second is Angie’s List Inc (NASDAQ:ANGI), down -8.42%. Another Soros asset, ANGI was downgraded by RBC Capital from a target price of $21.00 to $18.00.

Chinese search engine giant Baidu Inc (ADR) (NASDAQ:BIDU) is last, posting an -8.10% loss. Its share price surged last week after the company handily beat earnings estimates, but it is still down -16.23% for the year.

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)

About the Author

iBillionaire provides access to the investment data and strategies of the world's most successful self-made billionaires. Mobile app available for iOS and Android. Maker of the iBillionaire Index (IBLN). More at www.iBillionaire.me.

Be the first to comment on "J.C. Penney Surges Midday as Horizon Brightens"

Leave a comment

Your email address will not be published.