As I type, J.C. Penney (JCP) has been hammered in after-hours trading, before the call has started and after releasing a Q4 report with nasty headlines. I mentioned this one as a speculative buy potentially when I shared several over-shorted stocks last month, and, at 19 or so, it has pulled back to a slightly lower level than it was at prior to that article after trading to 23 just the other day.
The quarter showed a sales short-fall and very weak earnings. The analysts had been looking for sales of $4.08 billion, but they came in at just $3.88 billion, about 5% below expectations. Earnings excluding some one-time charges were a loss of $1.95, which is pretty far from the $0.18 loss that had been anticipated.
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