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>> J.C. PENNEY Latest News

MAR 06, 2013 - MarketWatch

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J.C. Penney drops on downgrades, Vornado sale

NEW YORK (MarketWatch) -- J.C. Penney Co.'s shares added to their loss on Wednesday after Citigroup and Oppenheimer both lowered their ratings on the stock from the equivalent of a buy rating. Meanwhile, Vornado Realty Trust confirmed in a regulatory filing late Tuesday that it sold 10 million Penney shares to Deutsche Bank in a block trade at a price of $16.03 a share. The real estate firm also said it has an understanding with Deutsche Bank that it will not sell additional shares before March 11. Before the sale, Vornado owned about 13.4 million Penney shares. The sale came after the ... Read More

Tags: J.C. Penney drops on downgrades, Vornado sale,  J.c. Penney Latest News