Diamonds and Dogs
Time to go shopping with today's diamond, J.C. Penny (JCP). The stock is climbing higher today up 15% thanks to better than expected fourth quarter earnings. The company came in with earnings of 39 cents a share easily beating estimates of just 23 cents a share. The company saw impressive holiday sales even with more people avoiding traditional retail stores. The same quarter a year ago, the company reported earnings of just 4 cents a share.
Time to trim weight. Weight Watchers International (WTW) is losing 27% after reporting less than spectacular earnings. The company reported a loss of 3 cents per share which is much lower than analyst expectations of a gain of 2 cents per share. The company's stock has been on a roller coaster ride since October when it was disclosed that Oprah bought a big stake in the firm. The stock skyrocketed from $6 to $26 in a month and a half, but has since pulled back to $11. Long term, I'm sure Oprah will have a beneficial effect.