J.C. Penney Company Inc. (JCP) recently raised its third-quarter 2009 earnings outlook on the back of better-than-expected September sales results. The retailer now expects third-quarter earnings in the range of 3 cents to 10 cents a share, up from its previous guidance range of a loss of 5 cents to profit of 5 cents a share. The company’s comparable-store sales for the month of September 2009, dipped 1.4% compared to a fall of 12.4% reported in the same month last year. The comps for the reported month fared better than the company’s guidance range of a 3.0% to 6.0% decline predicted earlier. Year-to-date comps slid 7.5% compared to a fall of 6.6% posted in the same period last year. J.C. Penney expects comparable store sales to dip in the range of 5.0% to 8.0% for the month of October 2009 compared to a 13.0% decline ...

Several key second-quarter earnings reports could either validate or undercut assertions that the U.S. economy is poised for recovery.

After the Commerce Department reported last week that retail sales fell 0.1% in July from June, and 8.3% year-over-year, retailers will stay in the limelight this week as several high-profile companies report second-quarter earnings. Target Corp. (NYSE: TGT), Limited Brands Inc. (NYSE: LTD), and Gap Stores (NYSE: GPS) are among the big-name retailers set to report.

Meanwhile, the Hewlett-Packard Co’s (NYSE: HPQ) report will provide a further glimpse into the world of technology, and The Home Depot Co.’s (NYSE: HD) results will confirm or counter claims that the recent housing rebound is for real.  On that note, the upcoming economic releases include July housing starts and existing home sales, while the wholesale inflation gauge may show that price pressures are not

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PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Thursday August 6, 2009

PennyOmega.com Stock Report!

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The U.S. Navy has awarded General Dynamics Electric Boat a $65.2 million contract to perform repair work on USS Hartford (SSN-768), a Los Angeles-class submarine damaged in a collision March 20. Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).

CDC Software Corporation (NASDAQ: CDCS), a subsidiary of CDC Corporation (NASDAQ: CHINA) today announced the pricing of its initial public offering of 4,800,000 American depositary shares (the “ADSs”), each representing one share of its class A ordinary shares, at $12.00 per ADS. The ADSs will begin trading on the NASDAQ Global Market on August 6, 2009 under

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By William Patalon III
Executive Editor
Money Morning/Money Map Report

[Editor's Note: When it comes to banking or global economics, there's literally no one better than Money Morning Contributing Editor Martin Hutchinson - a former investment banker with more than a 25 years experience. Hutchinson has proven himself to be a market maven and he is currently offering investors an opportunity to make $4.201 in cash in just 12 days. You can also subscribe to Martin's new investment service, The Permanent Wealth Investor, by clicking here .]

Just days after Chrysler LLC said it would be cutting one quarter of its auto dealerships, 1,100 General Motors Corp. (NYSE: GM) dealerships have reportedly been told not to expect a relationship with the embattled U.S. carmaker after October 2010.

GM dealers targeted for separation were informed by

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Just days after Chrysler LLC said it would be cutting one quarter of its auto dealerships, 1,100 General Motors Corp. (NYSE: GM) dealerships have reportedly been told not to expect a relationship with the embattled U.S. carmaker after October 2010.

GM dealers targeted for separation were informed by letter over the weekend, Reuters reported.

The eradication of hundreds of hundreds of American auto dealerships is merely the latest development in the ongoing dismantling of the so-called U.S. “Big Three’’ – a  process that seems likely to leave Ford Motor Co. (NYSE: F) as the last American automaker standing.

“These companies are making up for now for what they have avoided doing for years, if not decades,” industry analyst John A. Casesa, managing partner of consultantcy Casesa Shapiro Group LLC, told The New York Times. “And if the

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Liz Claiborne Inc. (LIZ) shares dived more than 18% today after the apparel maker posted a wider-than-expected first-quarter loss.

The company lost 37 cents per share for the quarter, excluding one-time items, while analysts expected a loss of 24 cents.

Sales decreased 29% to $779.7 million. Net sales fell 17.1%, excluding certain items.

Liz Claiborne announced earlier this year that it would not provide full-year earnings guidance owing to economic uncertainty.

The company still expects a 15% to 25% drop in same-store sales during the third quarter for its Juicy Couture, Lucky Brand and Kate Spade brands. Same-store sales at its Mexx brand is expected to decline in the high single digit range. Moreover, it expects overall same-store sales results to flatten in the fourth quarter.

Liz Claiborne projects an adjusted operating loss for the second quarter, indicating sales and loss would look similar to its latest quarter's

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Investors occasionally use a stock trading technique called 'Buying Dividends,' which is the technique of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only in bull markets.If you are interested in buying dividends, there are many stocks in many different industries to choose from. In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can't sell the stock until after the ex date. The actual dividend may not be paid for another few weeks.All of the following stocks have market caps over $500 million, and yield over 2%. Nordic American Tanker Shipping Limited ( NAT ) The stock is going ex-dividend on 11/18/2008 and pays a yield of ...