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February 24, 2017 1:48 PM J.C. Penney to close up to 140 stores, offer buyouts

J.C. Penney (JCP) plans to close 130 to 140 stores and offer buyouts to 6,000 workers as the department-store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13% to 14% of its locations and introduce new goods and services aimed at the shifting preferences of its customer base. The cuts come amid mounting 72

February 24, 2017 12:48 PM Early movers: JCP, FL, HLT, GS, WEN, HPE, JWN, GPS, PSO, GOOGL & more

J.C. Penney — The retailer reported adjusted quarterly profit of 64 cents per share, three cents a share above estimates. Revenue missed forecasts, however, and a comparable-store sales drop of 0.7 percent was wider than the consensus Thomson Reuters estimate of a 0.1 percent decline. Penney also announced plans to close up to 140 stores over the next few months 75

February 23, 2017 5:21 PM Stocks mixed after Treasury Secretary points to significant tax reform; industrials lag

"There has been a lot of hope and expectation built into this market. This has been a buy-high, sell-higher market, and that is largely been justified by those expectations," said David Schiegoleit, managing director of investments at U.S Bank Private Client Reserve. "But when reality hits, that's when markets might revalue." U.S. Treasurys and gold prices 53

February 21, 2017 11:01 PM Civilities: Simon & Schuster needs to apologize for the Milo Yiannopoulos debacle

Tuesday was another very bad day for now former Breitbart News editor Milo Yiannopoulos, who resigned from his position with the conservative publication in a news release. On Monday, he lost his publisher, Simon & Schuster, when the company canceled his forthcoming book, “Dangerous,” after the unearthing of a highly offensive video that quoted him advocating 64

February 21, 2017 8:12 PM Wells Fargo Fires Managers, Denies Bonuses in Account Probe

Wells Fargo & Co. fired the head of its consumer credit-card business and three other senior managers as the bank’s board examines how abusive sales practices spread through branches before spiraling into a national scandal last year. Shelley Freeman, the former Los Angeles regional president who went on to run consumer-credit solutions, was terminated 45

February 21, 2017 4:49 PM Tyson Seeks Lead in No-Antibiotics Poultry

Tyson will end use of antibiotics on chickens used to make Tyson-branded breasts, wings and nuggets Tyson Foods Inc. plans to eliminate antibiotics used on poultry in its flagship chicken products, as the largest U.S. meat company by revenue mounts a new push to burnish its brands. Executives expect the move, which will end use of antibiotics on the chickens 33

February 21, 2017 7:15 AM Telefonica to sell up to 40 percent of Telxius to KKR for 1.3 billion euros

MADRID Spain's Telefonica (TEF.MC) said on Tuesday it had agreed to sell up to a 40 percent stake in its telecom masts subsidiary Telxius to private equity firm KKR (KKR.N) for 1.275 billion euros ($1.35 billion). The sale would be seen as a small step in bringing down Telefonica's 50 billion-euro debt pile, but will help to show investors that last year's 44

February 20, 2017 11:07 PM Milo Yiannopoulos’s Pedophilia Comments Cost Him CPAC Role and Book Deal

“We initially extended the invitation knowing that the free speech issue on college campuses is a battlefield where we need brave, conservative standard-bearers,” Matt Schlapp, the chairman of the American Conservative Union, said in a written statement. Regarding Mr. Yiannopoulos’s comments, Mr. Schlapp called them “disturbing” and said Mr. Yiannopoulos’s 53

February 20, 2017 9:33 PM Snap's IPO Draws Barclays CEO, But London Investors Remain Wary

A full team of Snap Inc. executives, advisers, and the Chief Executive Officer of Barclays Plc attempted to sell the story of the social media company’s IPO in London Monday. So far it has been a tough sell. Snap CEO Evan Spiegel and fellow executives faced questions from investors about declining user engagement, according to fund managers present at the meeting 57

February 20, 2017 8:17 PM Pelicans officially acquire DeMarcus Cousins in blockbuster trade with Kings

The Sacramento Kings?changed course Sunday night and agreed to trade DeMarcus Cousins to the New Orleans Pelicans, just two weeks after publicly proclaiming that the All-Star center was off the market. The teams announced Monday afternoon that the Pelicans had acquired Cousins and swingman Omri Casspi while sending Buddy Hield, Tyreke Evans, Langston 46