J.C. Penney Company (NYSE:JCP) was downgraded by investment analysts at Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $5.00 price objective on the stock, down from their previous price objective of $6.00. Wells Fargo & Co.’s price target suggests a potential downside of 41.86% from the company’s current price. The analysts noted that the move was a valuation call. J.C. Penney Company, Inc. (NYSE:JCP) net profit margin is -11.70%and weekly performance is -12.10%. On last trading day company shares ended up $9.01. Analysts mean target price for the company is $8.75. J.C. Penney Company, Inc. (NYSE:JCP) distance from 50-day simple moving average (SMA50) is 5.48%.
Amid increased regulatory scrutiny of electronic trading and potential conflict of interests, Bank of America Corp (NYSE:BAC) has decided to close its electronic market making unit. The news was first reported by Bloomberg. Bank of America Corp (NYSE:BAC) shares advanced 0.07% in last trading session and ended the day on $14.72. BAC return on assets is 0.40%. Bank of America Corp (NYSE:BAC) quarterly performance is -10.90%.
Facebook Inc (NASDAQ:FB) claims Martin Grunin bought advertising accounts with high spending limits, and then turned around and sold them to affiliate marketers for hundreds of thousands of dollars, according to a lawsuit filed earlier this week in San Francisco. Facebook Inc (NASDAQ:FB) shares moved up 1.37% in last trading session and was closed at $61.35, while trading in range of $60.15 – $61.45. Facebook Inc (NASDAQ:FB) year to date (YTD) performance is 12.26%.
Pfizer Inc. (NYSE:PFE) said its experimental psoriasis drug was effective in treating the condition in a late-stage trial. Two doses of the drug, tofacitinib, maintained the treatment effect in patients suffering from moderate-to-severe chronic plaque psoriasis, the company said. Pfizer Inc. (NYSE:PFE) ended the last trading day at $29.49. Company weekly volatility is calculated as 1.39% and price to cash ratio as 5.80. Pfizer Inc. (NYSE:PFE) showed a positive weekly performance of 1.27%.
On May 22, Big Silicon Valley companies have long served as springboards for entrepreneurs, and Cisco Systems, Inc. (NASDAQ:CSCO) is no exception. Chief futurist Dave Evans is the latest to try his hand at a new opportunity. Cisco Systems, Inc. (NASDAQ:CSCO) ended the last trading day at $24.52. Company weekly volatility is calculated as 1.37% and price to cash ratio as 2.50. Cisco Systems, Inc. (NASDAQ:CSCO) showed a positive weekly performance of 0.62%.