Diamonds and Dogs


J.C. Penney Company Inc. (JCP)

J.C. Penney is erasing its gains today, down 5.93% at $19.52. The retailer saw a 4% gain yesterday, however it has given that all back and then some today. An Oppenheimer analyst was bullish on J.C. Penney early this week partially adding to the recent 4% gain; however the recent weakness in retail sales has scared off investors. Another factor scaring off investors is the company is down around 40% this year, and is not expected to turn a profit until 2014. J.C. Penney is just holding up above its 52-week low of $15.69.

Deckers Outdoor Corp. (DECK)

Deckers Outdoor had its best day in three weeks today, up 9.26% at $38.11. The outdoor footwear company saw its shares climb on heavy short-covering. A research report showed that UGG brand shoes were one of the most searched products during the holiday season, even beating iPads and iPhones in searches. Deckers is owner of UGG brands, and recently has been beat up based on expectations that UGG's were going out of style. Analysts expected sales growth to be only 4% for 2012, down significantly from 2011 growth estimates of 38%. The low estimates lead to large short positions in the company. The news of UGG being highly sought after has led many short positions to be covered today. The company is still well off of its 52-week high of $92.27.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.