Investors Continue to Favor Discount Retailers (XRT) (JCP) (WMT) (TRIP)
Tweet Send to a Friend
Shares of companies in the retail space are having a mixed start to the trading day on Tuesday, with SPDR S&P Retail (NYSE: XRT) posting a modest gain of 0.77 percent. The move higher in XRT takes place despite a crushing move in shares of J.C. Penney Company, Inc. (NYSE: JCP).
J.C Penny shares are trading lower by 5.5 percent after analyst Michael Exstein at Credit Suisse lowered his second-quarter estimate on the retailer. Exstein feels a so-called turnaround for J.C. Penny (NYSE: JCP) in the second half of this year would be "daunting." He also expects second-quarter sales to be down more than 20 percent.
Shares of Tripadvisor Inc (NASDAQ: TRIP) are also trading lower after as the stock pulls back from all time highs posted early in the month.
On the positive side, shares of Wal-Mart Stores, Inc. (NYSE: WMT) continue to march higher again today, giving the stock a 7 percent gain in the past 30 days. Other discount retailers are also trading well, as the economy in the U.S. forces consumers to continue to penny pinch.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
J.C Penny shares are trading lower by 5.5 percent after analyst Michael Exstein at Credit Suisse lowered his second-quarter estimate on the retailer. Exstein feels a so-called turnaround for J.C. Penny (NYSE: JCP) in the second half of this year would be "daunting." He also expects second-quarter sales to be down more than 20 percent.
Shares of Tripadvisor Inc (NASDAQ: TRIP) are also trading lower after as the stock pulls back from all time highs posted early in the month.
On the positive side, shares of Wal-Mart Stores, Inc. (NYSE: WMT) continue to march higher again today, giving the stock a 7 percent gain in the past 30 days. Other discount retailers are also trading well, as the economy in the U.S. forces consumers to continue to penny pinch.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Gold Lower Ahead of FOMC Minutes on Signs of Early QE Exit (GLD) (IAU)
- Wal-mart (WMT) Posts Q1 EPS of $1.14; U.S. Comps Down 1.4%; Guides Q2 EPS
- Gold Pares Losses as Fed Tapering Questioned (GLD) (IAU) (SLV)
Create E-mail Alert Related Categories
ETFsRelated Entities
Credit Suisse, Standard & Poor's
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
