On Tuesday,Shares of J C Penney Company Inc (NYSE:JCP), SUBTRACT -0.22% and closed at $8.99 in the last trading session. The last trading range of the stock ranges between $8.86 and $9.08. 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.
Renren Inc (NYSE:RENN), jumped 20.49% and closed at $2.47 in the last trading session. The last trading range of the stock ranges between $2.04 and $2.48. The company’s Market capitalization is $836.28 Million with the total Outstanding Shares of 714.37 million. Renren Inc. (RENN) (“Renren” or the “Company”), a leading real-name social networking internet platform in China, recently declared that it intends to spin off a newly formed partner (“SpinCo”) that will hold the Company’s social video platform woxiu.com and most of the Company’s investments in minority stakes in privately held companies.
The spin-off is being undertaken to minimize the risk that the Company could be deemed to be an “investment company” under the Investment Company Act of 1940 by reducing the aggregate amount of investments in unmerged auxiliaries on the Company’s balance sheet and to unlock potential in the Company’s social video business by separating it from the Company’s social networking and internet financing businesses.
The Company plans to distribute rights, exercisable for shares in SpinCo, to the Company’s shareholders on a pro rata basis. The rights will not be transferable and may only be exercised by shareholders who are both “qualified purchasers” under the Investment Company Act of 1940 and “accredited shareholders” under the Securities Exchange Act of 1934. The Company will distribute cash in lieu of fractional rights and cash to holders of rights who cannot exercise or who choose not to exercise their rights.
QEP Resources Inc (NYSE:QEP), LOST -3.26% and closed at $18.37 in the last trading session. The last trading range of the stock ranges between $18.32 and $19.16. During the 52-week trading session the minimum price at which share price traded, registered at $8.54 and reached to max level of $20.96.QEP Resources, Inc. (QEP) recently declared that it will host a teleconference and webcast to discuss its third quarter 2016 results starting at 9:00 a.m. EDT (7:00 a.m. MDT) on Thursday, October 27, 2016. QEP will issue a combined third quarter financial and operational results news release Wednesday, October 26, 2016 after market close.