Sales Improve Compared With August
J.C. Penney said its business seems to be improving, slowly but surely. Same-store sales rose almost 6 percent sequentially last month, while its online segment received a 25 percent boost. Management also said expects year-end liquidity of more than $2 billion. JCP climbs 6 percent before the opening bell on my tradeMONSTER platform.
Talisman Pops on Icahn Stake
We've been all over the call buying in Talisman Energy, and now we know why! Carl Icahn disclosed he has amassed a 6 percent state in the Canadian oil driller and is now the biggest shareholder. TLM rallies 7 percent on the news.
Tower Group Tanks on Reserve Shortfall
Tower Group announced it needs a cash infusion after a review of past years indicated a reserve shortfall. The deficit comes out to $365 million, and it also expects to report an impairment charge of $215 million for the second quarter. TWGP plummets 28 percent in early trading.