An issue of J C Penney Company Inc (NYSE:JCP) debt rose 2.8% against its face value during trading on Wednesday. The high-yield debt issue has a 8.625% coupon and is set to mature on March 15, 2025. The debt is now trading at $71.50 and was trading at $84.25 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.
Several brokerages recently commented on JCP. Zacks Investment Research cut J C Penney from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Piper Jaffray Companies reissued a “hold” rating and issued a $1.50 price target on shares of J C Penney in a research note on Friday, August 17th. Deutsche Bank lowered their price target on J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, August 17th. B. Riley lowered their price target on J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, August 17th. Finally, Citigroup lowered their price target on J C Penney to $2.00 and set a “sell” rating for the company in a research note on Friday, August 17th. Six investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.10.
Top High Tech Stocks For 2019: Long Island Iced Tea Corp. (LTEA)
- [By ]
Long Island Ice Tea changed its name to Long Blockchain (Nasdaq: LTEA), sending shares 200% higher. It remains to be seen how a beverage maker will create shareholder value from blockchain technology — not that its investors care.
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5. Blockchain-Related Stocks
Shorting blockchain-related stocks is an ideal way to not only short bitcoin but also short the entire cryptocurrency craze. Many such stocks exist, such as Riot Blockchain (Nasdaq: RIOT), Long Blockchain (Nasdaq: LTEA), and Longfin (Nasdaq: LFIN). Choose the one that you think is most overhyped and short away!
- [By Garrett Baldwin]
William may be right about a sell-off in stocks… in the cryptocurrency space. Over the last week, companies that have billed themselves as blockchain-focused saw their stocks surge. One firm – Long Island Iced Tea changed its name to Long Island Blockchain and watched its stock surge more than triple digits. But today, firms with this exposure are cratering. MGT Capital Investments Inc. (OTCMKTS: MGTI), Long Island Iced Tea Corp. (Nasdaq: LTEA), Riot Blockchain Inc. (Nasdaq: RIOT), and Siebert Financial Corp. (Nasdaq: SIEB) all fell by more than 12% Friday.
Top High Tech Stocks For 2019: Alphatec Holdings, Inc.(ATEC)
- [By Ethan Ryder]
Alphatec (NASDAQ:ATEC) posted its quarterly earnings results on Thursday. The medical technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09), Fidelity Earnings reports. The business had revenue of $22.04 million during the quarter, compared to the consensus estimate of $22.06 million.
- [By Logan Wallace]
Media stories about Alphatec (NASDAQ:ATEC) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Alphatec earned a news impact score of 0.05 on Accern’s scale. Accern also gave news articles about the medical technology company an impact score of 47.5008469727734 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
- [By Stephan Byrd]
Stonepine Capital Management LLC bought a new stake in Alphatec Holdings Inc (NASDAQ:ATEC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 903,224 shares of the medical technology company’s stock, valued at approximately $2,692,000. Alphatec accounts for about 1.6% of Stonepine Capital Management LLC’s portfolio, making the stock its 17th largest holding.
- [By Joseph Griffin]
Invivo Therapeutics (NASDAQ: NVIV) and Alphatec (NASDAQ:ATEC) are both small-cap medical companies, but which is the superior investment? We will compare the two businesses based on the strength of their institutional ownership, dividends, risk, earnings, profitability, analyst recommendations and valuation.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Alphatec (ATEC)
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Top High Tech Stocks For 2019: Zillow Group, Inc.(Z)
- [By Joseph Griffin]
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:
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Why Aren’t We All Buying Houses on the Internet? (slate.com) Zillow to feature Canadian listings, eh! (housingwire.com) Couples Will Spend Two Years’ Worth of Rent to Pay for their Wedding (finance.yahoo.com) Analyzing Zillow (Z) and InnerWorkings (INWK) (americanbankingnews.com) Birth rates are sliding where housing prices are rapidly soaring, and you can see that in this Bay Area county (feeds.bizjournals.com)
Several equities analysts have commented on Z shares. Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Zillow in a report on Tuesday, March 13th. Benchmark reiterated a “buy” rating and issued a $64.00 price objective on shares of Zillow in a report on Friday, April 13th. BidaskClub upgraded shares of Zillow from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. KeyCorp set a $63.00 price objective on shares of Zillow and gave the company a “buy” rating in a report on Thursday, April 12th. Finally, Cowen reiterated a “hold” rating on shares of Zillow in a report on Friday, February 9th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.58.
- [By Motley Fool Staff]
First, they review the second-quarter data from online real estate giant Zillow Group (NASDAQ:Z) (NASDAQ:ZG), which was bad, and its plan ahead, which looks scary. The company missed on revenue, and its guidance was weak, too, which would have been enough on its own to push shares lower. But the revelation that it was buying Mortgage Lenders of America did it no favors either. As Zillow moves into lending and house flipping, there’s a lot of fear among investors that it’s trying to elbow its way into some already crowded spaces where it’s strengths won’t translate.
- [By Jeremy Bowman]
Shares of Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG) sold off last month as the market expressed dissatisfaction with the company’s plan to flip houses. As a result, both classes of stock closed April down around 10%, according to data from S&P Global Market Intelligence.
- [By Steve Symington]
Late last week, Zillow Group Inc. (NASDAQ:Z)(NASDAQ:ZG) announced two public offerings to raise a whopping $650 million — half from issuing just over 5.7 million new Class C capital shares at $57 apiece and the other half in the form of 1.5% senior convertible notes due 2023. After accounting for costs and expenses from the offerings, that could bring Zillow’s net windfall to nearly $725 million.
- [By Ethan Ryder]
Zillow (NASDAQ:Z) CMO Jeremy Wacksman sold 47,788 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $55.64, for a total value of $2,658,924.32. Following the completion of the transaction, the chief marketing officer now owns 48,489 shares in the company, valued at $2,697,927.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
- [By Joe Tenebruso]
Zillow Group (NASDAQ:Z) (NASDAQ:ZG) reported second-quarter results on Aug. 6. The leading online real estate platform is seeing strong early demand for its new homebuying business, but closing delays prompted it to scale back its full-year revenue and earnings guidance.