Penney Shares Plunge After Massive 4Q Loss
J C Penney Co shares fell nearly 16 percent on Thursday after reporting a fourth quarter loss of 552 million dollars or 2 51 per share. Revenue dropped 24.8 percent to 12.98 billion dollars as customer traffic fell 17 percent. The retailer posted a full year loss of 985 million dollars.
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Stocks edge higher as Dow nears record mark
The Dow rose about 34 points to 14 109 as the market edged toward a record high. The S P 500 gained nine and the Nasdaq added 12 while earnings were mixed and government data showed a 0.1 percent fourth quarter advance.
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Ex-Massey aide names CEO in West Virginia mine case
David Hughart, former White Buck Coal president, testified at a federal hearing that Don Blankenship may have known of warnings given to Massey workers about inspections. Hughart faces up to six years and a $350000 fine, with sentencing set for June 25.
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