Just for clarity. Does the above mean the insiders were granted the options at a price of $.69 ; therefore, they would not sell them unless they were above that price? Or, does it mean these were "free" options that they received and they sold them at $.69. Thanks for all the info.
JCP took share from Macy's, Sears, and Dillards. Denial is an awful thing when you are short.....Someone, one of the other retailers, or private equity. is putting pen to paper right now, thinking that if this is the early stage of a JCP recovery, it might be worth it to assume their debt and buy them out.
On Fast Money Halftime this morning, the retail guest was a woman, the VP of Mall of America. She said that shoppers will look at clothes on the internet, but 89% will go to the brick and mortar stores to touch/feel/buy the clothes. She is a legitimate source of information vs. all the so called "analysts" who have been talking their short book positions. The ex-CEO of Bloomingdales said the same thing on a CNBC panel about 2 months ago. But, the analysts and talking heads just repeat what they want to hear. Now, for those here who are ordering their clothes while sitting on the toilet, I suggest you cover quickly b4 JCP breaks out significantly.
It's ok to have a long position and not like these guys, I do. Need examples: dilution, lots of gift options (oh, I meant incentive options), more dilution, etc And they have the gall to webcast the Annual meeting so we can hear the #1 subject on their minds. Yes, you guessed it, EXECUTIVE COMPENSATION!!
Everyone should watch the above video and read the article JCP Yahoo Finance. There is a tendency for the media and analysts to overgeneralize to meet their needs (news, long/short positions). People are buying more electronics/computers on-line but that does not necessarily translate to how they shop for clothes. Yes, they'll go to Best Buy, window shop, and buy on-line. However, with clothes, they'll shop on line (webrooming as the article/video states), then go to the store to touch/feel/try on their clothes. It is also a family socialization experience with back to school. Clothes are not computers, something that Ron Johnson never understood. Remember last year when computer Pads and Tablets were going to replace computers....sell, sell, sell. Wrong!! You could have bought HP, Best Buy, and cleaned up.
I occasionally order a pair of shoes on-line, but like to get a good fit with clothes, don't enjoy returning things on-line, etc. and like getting out of the house for the social experience with real people, eating out. An executive from Bloomingdale's stated that only 5-10% of clothes are purchased on-line, for this reasons.. People still enjoy socialization with other people.
Somone on this board a few months ago stated that he could order his jeans while sitting on a toilet, all of their friends are on social media, and they no longer needs to leave the house, etc. Sorry, but it's not a typical experience, so don't over extrapolate yourself to the general population. Nevertheless, to the shorts who only listen to themselves...........enjoy the squeeze.
I think this guy, who was a guest, is right about JCP. I was amused by all the laughing by the CNBC Fast Traders, especially Joe Najarian who shorted JCP and was saying it was going to 0 about 6 months ago. Joe won't even comment on JCP because he is still wincing from the short squeeze he got himself into. Finally, I recall when Regis Philbin, nothing more than a talk show host, told the Fast Traders he was buying Micron at $9/sh, and they all laughed at him too. Micron is now at $32/sh
I have trouble accessing SEDI to see who is selling. From this board's messages, I understand that some of the warrant holders sold, perhaps along with other lenders. However, have the insiders been holding? Anyone who can access SEDI please reply. For disclosure, I'm long 120,000 shares, cost avg. $.30/sh. I did sell 60% of my shares on the last run-up in the $.80/sh range, but bought back at about $.40/sh. However, I dd not sell on this last rise to $.75...guess I should have. Thank you
I shopa great deal in JC Penney and Macy's mens departments. They are next to each other in my local mall. It's basically the same merchandise!! I've walked through the men's departments in both stores, and Macy's is no more "exciting" than Penney's. I will admit that Macys does have well dressed salesman walking around that ask me if I need help, but I'm capable of picking out my own clothes, and if they don't have the merchandise, shirts, slacks that I want, I often leave Macys without buying anything. Furthermore, they have similar sales as at JCP. Analysts act as though everything is for sale in JCP, and Macy's is all non-discounted retail prices. It's pure BS. Sorry, but Macy's put up a big "smokescreen" up in yesterday's earnings report saying the consumer was just tapped out. BS......JCP stole share from them.
You are right, they'll write the same old same old. They'll start the story saying the stock was languishing at $40 under Ullman, until it was almost "saved" by Ron Johnson/Bill Ackman. Ron had good ideas, but just didn't have enough time as he drove the stock to $10 and lost all the customers...but he really had good ideas!!. All these articles act as though if Ullman would not been replaced, he would have driven the stock to $10 as well. Plenty of stocks have temporary pullbacks, and stupid to extrapolate them to $0. This JCP disaster was done by 2 past idiots, a rich hedge fund manager who understands a balance sheet, but not a business, and a failed CEO who could not understand the difference between selling computers vs. clothes. This stock is going to $15 before the end of the year under none other than Myron Ullman. Oh yes, does anyone still believe that JCP did not steal share from Macys?.
While visiting our son in Denver, CO, we went to an indoor/outdoor mall in Westminster, and went into JC Penney. I spoke with 2 sales ladies in the Juniors section asking how the last few months had gone. The older lady said "everybody is back", memories of the old Penny mistakes due to Ron Johnson have faded. The younger saleswoman said the "Back To School" sales were unbelievable. Thursday morning is going to be a blowout, and one helluva short squeeze. For the shorts, keep reading articles written by the kids at Motley Fool and all those articles by hedge funds who are short. I think we'll open over $12/sh.
they never get executed due to timing. That's why there's an increasing backlog...it's a sham.
I'm very long Western Lithium, so don't take my questions wrong. I thought the previous LI clay pre-prototype results were based on a batch "bench" process. The next results will be from a prototype continuous process. Hopefully there will not be scale-up issues between batch and continous. Any thoughts are appreciated.
Other than the upcoming start-up of the hectorite clay operation, sales, etc., isn't the next big catalyst the results of the lithium clay prototype process being carried out in Germany? Any thoughts on the efficacy of those results and timing? Thanks
Aug. 6 was Analysts Day at Micron. Apparently, someone didn't like something. From my Schwab account, the article below is from Goldman Sach's analyst written before Aug. 6. How do Analyst Days get around Reg. FD? Are they broadcast live as with earnings report?
Here is the article:
Goldman Sachs analyst Neutral Mark Delaney discussed Micron Technology (NASDAQ: MU) ahead of its analyst day on August 6th. Industry fundamentals, technology road-map, and capital uses are expected to be key topics. "We expect key topics at Micron s analyst day to include: 1) Fundamentals
" We expect an update on industry supply/demand in both 2H14 and 2015. Recall Micron noted on its last earnings call that it plans to grow supply in line with the industry in CY15 in DRAM (low-to-mid 20% range) and NAND (low 40% range) without expanding wafer production. Our view has been that NAND supply was in excess in 1H but has been tighter recently, and that DRAM was in modest undersupply. However, we will be attempting to gauge the impact of Samsung s increase in DRAM shipments on S/D. Finally, profitability and margins could be a topic," said Delaney. "2) Tech roadmap " We believe Micron will discuss its progress with 20 nm DRAM, SSDs, and both TLC and 3D NAND. We believe Micron has been trailing peers in NAND technology (in particular in TLC) but the company has added R&D resources this year. 3) Capital allocation " We expect an update on Micron s plan for cash use. Recall that Micron recently raised $1.15 bn of 5.50% senior notes and plans to use the proceeds to retire convertible debt (including its 1.875% 2031B convertible notes) and general corporate purposes. In addition, Micron may discuss capex requirements for FY15," he added
I drove around the West a lot listening to satellite radio and accessing the internet. When you get between mid-Arizona and Nevada, you'll get internet breakup or nothing. When you get north of Santa Fe going to Pueblo, CO, you'll get nothing. Drive from Zion Ntl to Bryce Canyon as I did last week.....no internet. Satellite radio is reliable, the further out you get, the better it gets
I live near the Mesa, Arizona mall. JCP always has 5-15 people waiting in the line at the Men's and Women's cashiers, and everything in their hands is not on sale. This is going to be the mother of all short squeezes when this turnaround becomes evident.
more stock buybacks or a 1 time dividend? If it's a buyback, I'm not interested. Long time investors deserve a dividend. And, please don't say they need all that capital for acquisitions.......they've spent a lot for Tumbler and others, and I don't see results. That doesn't even count the ridiculous pay/severance to the highly overrated Henrique De Castro for 1 years worth of work.....talk about just throwing money on the ground!!. Marissa wouldn't have slept through that meeting in Cannes if she wasn't trying to do both her job and his job...........just to make up for that debacle..
Did anyone notice tha 455,000 shares were traded today compared to a daily average of 67,000 shares? Yet no news, and up roughly a penny. Any comments on that? Was this just another odd day, or is there something we don't know behind it.
I guess with 30% of the shares short, every hedge fund mouthpiece has to write at leat 1 article per day i.e. "JCP, Not Out of the Woods", "Don't Catch a Falling Star", yada, yada. There should be a contest for most articles per day on a stock.written by retail no nothings.
In 2 years when this stock is back in the $20s, they'll all be citing Myron Ullman as the comeback kid, premier retailer, etc. He's a smart and prideful CEO, who was shamed and put out to pasture prematurely by Bill Ackman, that serial human wreckking ball of corporations. Ullman has all the shorts in his sights right now, and it's going to be painful when the shots reach teir targets.
His recent decision to stay on as CEO, rather than step aside, tells you how sure he is of JCP's revival. This is a wounded animal, now healed, who wants some revenge. So........write on.