11:35 AM New York – J. C. Penney said September comparable sales fell 4% but online sales surged 25 % and liquidity at the year-end is expected to be higher than $2 billion. Nuance appoint son of Carl Icahn as independent director. Wolverine World Wide net surged 66%.
J. C. Penney Company, Inc
climbed 5.1% or 39 cents to $8.10 after the department stores operator said sales in the third-quarter fell 4% but online sales surged 25.3 % in September and 10.8% in August.
Comparable store sales in September continue to improve and increase 580 basis points or jumped 5.8% from August but dropped 4% from a year ago.
The retailer added liquidity at year-end is now expected to be in excess of $2 billion.
Nuance Communications, Inc.
) dropped 1.3% or 24 cents to $18.25 after the speech-recognition technology developer appointed two new independent directors among one of Brett Icahn a son of Carl Icahn and David Schechter an investment manager.
Talisman Energy Inc.
) rose 10 cents to $12.85 after the activist investor Carl Icahn yesterday after the market closed announced he had accumulated a stake of 5.97% worth $300 million in Canada-based oil and gas producer.
Talisman surged 8.6% to $13.85.
Wolverine World Wide, Inc.
) jumped 3.2% or $1.85 to $59.70 after the footwear and apparel maker reported revenue in the third-quarter more than doubled to $716.7 million. Net earnings in the quarter surged 66.4% to $54.4 million or $1.08 a diluted per share compared to $32.7 million or 66 cents.
The company lifted its revenue guidance for the year between $2.71 and $2.73 billion, representing growth of 6.4% to 7.1% and adjusted earnings per share in the range of $2.73 to $2.83 per share.
Yum! Brands, Inc.
) gained 28 cents to $71.71 after the quick service restaurant operator expects revenue in the quarter ending in September slightly to decline to $3.5 billion compared to $3.6 billion a year ago period.
The company is scheduled to release its earnings after the market close.