Diamonds and Dogs
9/27/13J.C.Penney Company Inc. (JCP)
J.C. Penney is continuing its downward spiral today, down 13.15% at $9.05. The retailer has seen its shares continue to fall after announcing a secondary stock offering in an attempt to raise billions to help slow down the company cash burn. Further hurting J.C. Penney was the fact that vendors are beginning to worry about the company's ability to sell their goods. The attempt to slow cash burn, mixed with lower vendor confidence sent shares down $1.37 and to another 52-week low of $8.85 intraday.
Trina Solar Limited (TSL)
Trina Solar was on fire today, up 15.50% at $14.83. The photovoltaic company saw its shares take off after Deutsche Bank analyst Vishal Shah upgraded Trina to a buy rating, and increased his price target to $18. Shah is arguing that demand in China will pick up in the second half of this year, driven by a desire to take advantage of incentives that expire at year end. Shares of Trina jumped nearly $2.00 today and reached a new 52-week high of $15.24 intraday.