On Tuesday, Shares of J C Penney Company Inc (NYSE:JCP), subtract 8.48% and closed at $8.39 in the last trading session. JCP stock opened its last trade at $8.62 and after floating in a range of $8.39 to $8.63. The company’s Market capitalization is $2.56 Billion with the total Outstanding Shares of 307.73 million. During the 52-week trading session the minimum price at which share price traded, registered at $6.00 and reached to max level of $11.99. The Earnings per Share of the company stands at $-1.08. 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.
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.
Shares of Spherix Inc (NASDAQ:SPEX), gained 31.30% and closed at $1.51 in the last trading session. SPEX stock opened its last trade at $1.21 and after floating in a range of $1.18 to $1.68. The company’s Market capitalization is $7.89 million with the total Outstanding Shares of 4.82 million. During the 52-week trading session the minimum price at which share price traded, registered at $1.05 and reached to max level of $13.11. The Earnings per Share of the company stands at $10.02. Spherix Incorporated (SPEX) an intellectual property development company committed to the fostering of technology and monetization of intellectual property, recently offered an update on its active patent infringement lawsuits, new lawsuits filed, and spending reduction programs.
Anthony Hayes, Chief Executive Officer of Spherix, stated, “Spherix is now in the best position to deliver shareholder value from its patent portfolio than at any time in the past. In the last six months, we’ve effectuated ten new patent infringement lawsuits against defendants with a combined market capitalization of about $48 billion. There are more suits on file now than at any time in the last four years. And while most of these suits are recently filed, we are working with our partner Equitable IP to reach fair and equitable settlements with any licensee. Copies of all ten complaints can be viewed on our website.