J C Penney Rallies on Holiday Sales Surprise

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J C Penney Company Inc (NYSE:JCP), Zafgen Inc (NASDAQ:ZFGN) and Tasman Metals Ltd (NYSEMKT:TAS) are nearing market close with significant gains this Wednesday. Posting losses today are Eclipse Resources Corp (NYSE:ECR), Enphase Energy Inc (NASDAQ:ENPH) and EXCO Resources Inc (NYSE:XCO).

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J C Penney Surges

J C Penney Company Inc (NYSE:JCP) approached market close up +19.89% for the day thanks to a pleasant surprise on holiday sales. The struggling retailer has gained more than +18% over the past month. Billionaire hedge fund manager Larry Robbins has had a JCP stake since 2012, though by the third quarter of 2014, he had shaved his position down to just 196,000 shares.


Zafgen Inc (NASDAQ:ZFGN) surged +16.88% on the heels of news of a successful mid-stage study on one of its obesity drugs. The biotech company was one of Farralon Capital’s new third quarter acquisitions.

Tasman Metals Ltd (NYSEMKT:TAS) rallied +13.09% today, a day after joining the U.S. Critical Metals Institute. A junior resource company, Tasman is a long-time George Soros holding. It has climbed +10.52% over the past month.

Eclipse Resources Keeps Falling

Eclipse Resources Corp (NYSE:ECR) continues to tumble in the wake of Deutsche Bank’s target price cut, today falling -12.01%. ECR has fallen -59.78% over the past month – meaning losses for billionaire shareholders Leon Cooperman and Richard Chilton.

Enphase Energy Inc (NASDAQ:ENPH) approached market close down -11.21%. Goldman Sachs began coverage of the stock today, issuing a sell rating and a price target of $12.94. Reports have also emerged of insider trading. Dan Loeb’s Third Point Capital picked up a stake in ENPH during the second quarter of 2012 and has likely made a gain on the investment, given the stock’s +80% climb since that time.

EXCO Resources Inc (NYSE:XCO) dipped -10.52%, putting its five-day loss at -28.36%. The Wilbur Ross holding has fallen -36.14% over the past three months.


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