BusinessThe Street•6 hours agoThis Is How the Ongoing Death of Sears Could Force J.C. Penney Into a Drastic Decision
J.C. Penney (JCP) could be caught in the downdraft of its dying rival on the other end of the mall, and forced to close even more stores. "Our analysis suggests that Sears ( SHLD) revenue donation is providing a moderate near-term boost [to J.C. Penney] to sales and earnings ($54 million in revenue, and $0.03 in EPS). However, we believe that any further Sears store closings may increase the likelihood that J.C. Penney will have to accelerate the closure of lower-tier mall locations, adding meaningful medium-term revenue and EPS risk of about $150- 200 million and $0.09," wrote Credit Suisse analyst Christian Buss on Friday. Buss rates J.C. Penney shares at an under-perform. The analysis is
- BusinessThe Street•4 days ago
Tesla Could Have a Near Monopolistic Opportunity That Sends Its Stock Up Another 30%, Says Firm
A new day, yet another Wall Street firm with some bold proclamations on electric car maker Tesla (TSLA) . Tesla shares were upgraded to buy from hold on Tuesday by Berenberg, citing the company's "disruptive potential" in the auto industry. The company could have a "near monopolistic" opportunity to gain market share and out-perform rivals, Berenberg writes. The firm sees Tesla shares surging about 30% from Monday's closing price to $464. To be sure, notes like this one have become the norm. Consumer Edge Research recently upgraded its price target on Tesla's stock to what was then a Wall Street high estimate of $385 in anticipation of the Model 3's release on July 1. The company says it will
- BusinessBusiness Insider•yesterday
MARK CUBAN: Here's 'the Amazon question' after the online retail giant spends $13.7 billion on Whole Foods
Mark Cuban, the billionaire investor and TV personality, used Twitter on Friday to weigh in on Amazon's announcement that it would acquire Whole Foods. Cuban said one question would determine whether the purchase by the online retail giant was a smart one. "The Amazon question," Cuban tweeted.
