On Thursday, Shares of J C Penney Company Inc (NYSE:JCP), added 4.00 % and closed at $9.37 in the last trading session. The last trading range of the stock ranges between $8.90 and $9.40. J. C. Penney Company, Inc. (JCP) declared that starting Oct. 5, it will offer a refund for customers who purchased the Royal Velvet® Egyptian cotton towels or the Royal Velvet Egyptian cotton damask stripe comforter set. Results from a traceability audit were found to be inconclusive, and therefore JCPenney is unable to provide complete assurance that these products were made using 100 percent Egyptian fibers.
While the products pose no safety concerns and are expected to provide long-lasting durability and performance, the Company is giving concerned customers the option of bringing the following items into a local JCPenney store for a refund of the purchase price:
Royal Velvet Egyptian cotton bath towels, which includes the complementary hand towels, washcloths and bath sheets in more than a dozen colors;
Royal Velvet 400tc Damask Stripe Egyptian Cotton Comforter Set, which includes matching sham(s) available in 12 colors.
Each product can be identified with a sewn-in hem tag reflecting the Royal Velvet brand together with fabric content described as “Egyptian cotton loops” or “100% Egyptian cotton.” The refund does not apply to other Egyptian cotton textiles sold at JCPenney.
HP Inc (NYSE:HPQ), dropped -0.19% and closed at $15.60 in the last trading session. The last trading range of the stock ranges between $15.41 and $15.63. The company’s Market capitalization is $27.16 Billion with the total Outstanding Shares of 1.71 Billion. HP Inc. provides products, technologies, software, solutions, and services to individual consumers and small- and medium-sized businesses (SMBs), in addition to to the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin client PCs, tablets, retail point-of-sale systems, calculators and other related accessories, software, support, and services for the commercial and consumer markets. The Printing segment provides consumer and commercial printer hardware, supplies, media, scanning device, and software and services; and laserjet and enterprise, inkjet and printing, graphics, and software and web services.
Vanguard Natural Resources, LLC (NASDAQ:VNR), lost -1.85% and closed at $0.610 in the last trading session. The last trading range of the stock ranges between $0.60 and $0.74. During the 52-week trading session the minimum price at which share price traded, registered at $0.51 and reached to max level of $9.53. Vanguard Natural Resources, LLC (VNR) (“Vanguard” or “the Company”) declared recently that it has elected not to make the about $15 million semi-annual interest payment due on October 3, 2016 on about $381.8 million in aggregate principal amount of 7.785% of Senior Notes due 2020 (the “Notes”).Vanguard made the decision to take advantage of the applicable grace period under the indenture governing the Notes following negotiations with Vanguard’s lenders (“First Lien Lenders”) under its first lien credit facility (the “Credit Facility”). The First Lien Lenders consented to the Company’s decision to preserve liquidity and flexibility pending the outcome of the fall borrowing base redetermination on the Credit Facility and as the Company continues to engage in constructive dialogue with new potential capital sources. In connection with this decision regarding the interest payment on the Notes, the Company and the First Lien Lenders reached a waiver under the Credit Facility which allowed the Company to use the grace period offered under the Notes without triggering an event of default under the Credit Agreement.
Vanguard can elect to make the interest payments due under the Notes at any time during the grace period, but, if the payment is not made within 30 days of October 1, 2016, such nonpayment would become an event of default. Upon an event of default under the indenture governing the Notes, the trustee or holders of not less than 25% in aggregate principal amount of the Notes then outstanding may declare the principal amount of the Notes plus accrued and unpaid interest to be due and payable. A failure to pay interest on the Notes following the expiration of the 30-day grace period would also result in events of default under the Credit Facility and the indenture governing 7.0% Senior Secured Second Lien Notes Due 2023 (the “Second Lien Notes”), which would entitle the trustee under the indenture governing the Second Lien Notes and the First Lien Lenders to declare all obligations thereunder to be right away due and payable.