Welcome to the weekly edition of What’s Hot In Stock Market News. To help you stay up to date with Shares and Stock Markets, here are some of the news items that caught my attention this week.
What’s New This Week?
JC Penney Almost A Penny Stock: J.C. Penney investors can’t catch a break. Shares of the struggling retailer plummeted almost 11% Tuesday to multi-decade lows despite a report indicating a jump in same-store sales over the holiday season. The stock briefly dipped below $5 a share, an important psychological level. Some mutual funds avoid so-called penny stocks that trade for less than $5.
Sony Sells PC Business, Cuts 5,000 Jobs: Sony announced a series of major changes Thursday and warned of a loss of $1 billion this year as it struggles to get a turnaround plan back on track. Sony said it was selling its loss-making Vaio PC unit, spinning out its television business and cutting 5,000 jobs.
GM Earnings Down 13% On Overseas Woes: For General Motors, the end of last year was good in the United States, good in China but bad just about everywhere else. And the company said it will have to spend about $1 billion in 2014 to try to fix the problems it’s facing around the globe.
Linkedin Shares Sink On Weak Outlook: Shares of the professional networking site plunged 11% in after-hours trading Thursday after the company posted solid fourth-quarter earnings and sales but offered a disappointing outlook. Linkedin said it expects sales to rise only slightly in the current quarter, to between $455 million and $460 million.
Tim Cook’s 2-Week, $14 Billion Apple Buying Opportunity: Tim Cook’s interview in Friday’s Wall Street Journal puts the attached Apple stock chart in new light. What looked to human day traders and computer algorithms on 27 January like a signal to sell, Cook saw as a buying opportunity.
Image: Shocked Lincoln