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U.S. Morning Call: Judgement Day for JCPenney

Thursday, April 11, 2013 - 03:46

Apr 11 - The judge in the Macy's-JCPenney case is expected to decide whether to block Penney's from selling Martha Stewart-designed home goods.

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I think offered Thursday and high profile high stakes trial may come to an end very soon. The judge -- the Macy's JC Penney case it's expected to decide today. Whether blocked pennies from selling be exclusive Martha Stewart line. Now that the leadership has changed at JC -- there's a lot more at stake. The New York Post reports new CEO Mike Ullman has reached out to Macy's Terry Lundgren to settle this legal battle. Or the very least sell the inventory it has on and according to Citigroup that's worth nearly 109 dollars. And they also have to pay Macy's legal fees which could be well over five million bucks. Even in that case it's still -- 17% stake in Martha Stewart omnimedia. Which Ron Johnson had shelled out over 38 million dollars. Take a quick look at what the stocks are doing is closed on Wednesday at 44 dollars and JC penny trading around fourteen dollars in the premarket. More from the world of retail cost co reported a 4% rise in March same store sales. The warehouse chain missed analyst at some is due to lower fuel prices and strong dollar. GAAP TJ Maxx and limited some of the other big brands reporting mart's sales today. Wall Street expects some gains largely because of the timing of Easter this year that a lot of business in April. But even so last -- shopping trends will provide a window into consumer sentiment since the Christmas holiday season and since taxes -- raised. Keeping with -- Right -- expected to report earnings today last quarter the drugstore chain turned to surprise pop profit for the first time in over five years. But still struggle to match up to rival CVS and Walgreens. Not to market US stock futures point to stay open today. Also keep what I an oil prices the International Energy Agency became the third top oil forecast this week to lower its prediction for oil consumption. -- to Washington banks. Of the financial services forum. But requested the meeting at the White House after last week's dismal jobs report unemployment is likely atop the abrupt with the president. And it's on our radar as well. With the release of the initial claims data that number expected to have slipped from last week. Some stocks to watch one to keep an eye on today as Microsoft with PC sales in shambles the first quarter 2013 saying its biggest decline in two decades. Soft is well still kicking. The Wall Street Journal reporting that the tech titan is developing a new lineup of surface tablets including a seven inch version. Microsoft -- tablet production has not tablets like iPad mini grow in popularity. Also -- I -- young ran the biggest foreign fast food chain operator in China saying its eleven year streak of double digit profit growth is in jeopardy. Do food scares and bird flu outbreaks. Shares slipping in the premarket down over two and a half percent. And be sure much tougher gun manufacturers the breakthrough agreement to expand background checks for gun buyers announced yesterday. Gets put to a vote in the senate today. At least some of president Obama's proposed gun restrictions are expected to get approval. That's it for Thursday morning caller never follow us on Twitter at Reuters Insider and get more great videos at Reuters dot com slash players to. And Lisa Bernhard thanks --

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U.S. Morning Call: Judgement Day for JCPenney

Thursday, April 11, 2013 - 03:46