The Fitch-rated CMBS deals that are exposed to J.C. Penney Company, Inc. (NYSE:JCP) as announced store closures are capable of absorbing the potential loss. However, we believe significant cash flow changes are unlikely as the stores that are closing have been underperforming for some time and are not drawing substantial traffic to their malls or centers. We believe some malls could benefit if they replace J.C. Penny with a stronger tenant. J.C. Penney Company, Inc. (NYSE:JCP) stock opened at $6.60 in current trading session, and trading at $6.36, trading in the range of $6.30 – $6.61. The stock showed a positive weekly performance of -11.17%.
Magellan Midstream Partners, L.P. (NYSE:MMP) announced that it has reopened the open season to solicit capacity commitments from shippers to transport refined petroleum products to Little Rock, Arkansas. Binding commitments are now due by 5:00 p.m. Central Time on Jan. 16, 2014. Magellan Midstream Partners, L.P. (NYSE:MMP) shares trading at $63.41 on current trade day, by losing 1.54%. Stock 52 week range is $47.09 – $63.86. Company’s market capitalization is $14.31 billion.
NII Holdings Inc (NASDAQ:NIHD), a provider of differentiated mobile communication services operating under the Nextel brand in Latin America, aannounced that PRIP™, its advanced Push-to-Talk (PTT) app, is now available on the iPhone in the United States. Built upon Motorola Mobility’s PTT technology, PRIP offers users real-time, instant, unlimited communication using 3G, 4G or Wi-Fi to other PRIP subscribers and Nextel users anywhere in the U.S. The app is available for download on the Apple App Store or Google Play for the low introductory cost of US$1.99, with the first month free. NII Holdings Inc (NASDAQ:NIHD) stock rose 7.01% and trading at $3.18. The EPS of the stock remained -8.47. Company’s market capitalization is $551.82 billion.
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