Reuters - Video

EDITION: U.S. | U.K. | IN

9/11

U.S. Morning Call: Biggest Losers: JCPenney & Groupon

Wednesday, Feb 27, 2013 - 04:26

Feb 28 - JCPenney and Groupon are tanking in the premarket today, after posting disappointing results.

▲ Hide Transcript

View Transcript

Here's your morning conference Thursday earning earning. More earnings. Your reporting just over an hour ago most unexpected quarterly results on tight cost control. The stakes were high for the company -- holiday season with chairman and controlling shareholder and -- taking over as CEO. The iconic retailer has suffered from declining sales since 2005. When Lambert -- Kmart and here is an eleven billion dollar deal. She fears -- up just over 3% in the pre market. Speaking with clothing GAAP results due out soon and that Jeffrey's saying gap with a fever for 2012. His top picks for 2013. As they see the stock continuing to gather momentum. Also keep an eye on earnings from Barnes & Noble this morning which comes days after chairman Leonard Riggio offered to buy the bookstores. -- shareholder Liberty Media with a 17% -- hit that it may block the sale if the offer is good. Our biggest -- this morning Groupon by far. The daily deals site reported earnings that missed big Groupon also that it started taking -- smaller -- of revenue to attract businesses. Keep in mind this is dockers and analysts predicted earnings beat and it turn around in tight. That worries them relieved that -- screening lower in after hours trading now down over 26%. In the pre market. Pressure won't we be on CEO Andrew Mason now and Groupon also forecast disappointing sales this year. Underscoring its serious revenue growth challenged. Three analysts making cuts after the results Raymond James knocking -- down to underperform from market perform. And evercore and Piper Jaffray both cutting their price targets. -- also in hot water our second Biggest Loser. The retailer reported sales fell 31 point 7% in the fourth quarter. And much worse than expected -- that might put chief executive Ron Johnson's future. The company at risk taking shares in the premarket falling fast down over 15%. -- stocks to watch today -- dripping with controversy. The Wall Street Journal reporting that Enron and the FBI are investigating possible insider trading at the company. They -- reviewing several bats meet in Heinz stock shortly before the buyout announcement sent the share price soaring. The FCC is already one step ahead. Watching your probe last week into a 90000 dollar purchase of the stock that led to a potential profit of one point seven million dollars. And it failed could be in the works for BCB GMAC is -- you're exclusive reporting. That the fashion house which -- -- the like Angelina and beyoncé could fax one billion dollars. Blackstone is the advisor on the sale process but declined to comment is not the first time BCB he's been on the block. You we UBS try to sell it in 2010 the retailer how to faired too well through the financial crisis. No surprise though that the cheapest stressed there can cost as much as 200 dollars. And just in case you're curious ECB he stands for its bond -- on which beat good style good attitude. US stock futures point to a higher open today probably reacting to the good news from across the pond. That the ECB won't be changing its monetary policy any time soon. On the macro front provides US GDP data is expected to show the US economy grew in the fourth quarter rather than contracted as initially estimated. Will be seaquest rise tomorrow it sounds like the weather pattern but in reality it's much more on it. US states may have to cut your spending or raise taxes to make up for the loss of five point eight billion dollars of federal funds. The cuts will hit a hole at the sector mainly defense and education. Yesterday speaking with Reuters -- USDA had Tom Vilsack and the cuts would be brutal for the meat and poultry industry. Which could be ten million dollars in losses from countless for a you watch that for full interview op and more Reuters. On and more on Reuters dot com offers TV. And follow up on Twitter at Reuters Insider I'm betting -- it.

U.S. Morning Call: Biggest Losers: JCPenney & Groupon

Wednesday, Feb 27, 2013 - 04:26

Top News »

Money »

Moving Pictures »