Putting the kabosh on the shorts hope, a reprint below..
J.C. Penney: Consensus On Cap Structure Shifting? (JCP)
Jun. 6, 2014 11:47 AM ET J.C. Penney Company Inc. (JCP)
Disclosure: I am long JCP. (More...)
•The price of the two-year credit default swap has dropped by half in the last month.
•The CDS are no longer priced for near-term default.
•The Company's capital structure is re-pricing for long-term solvency.