Why J.C. Penney Shares Were Rising Today
Shares of J.C. Penney (NYSE: JCP) were surging Friday on news that the department-store chain was planning to hold talks with creditors ahead of the holiday season. The market unsurprisingly saw the move as a positive, as it gives the company the opportunity to get some relief from its debt burden of more than $4 billion.
The stock was up 14.9% as of 12:38 p.m. EDT.
Image source: J.C. Penney.
Source Fool.com
