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Retail Mixed After American Eagle Reports, J.C. Penney Upgraded

Teen apparel retailers were hurting on Tuesday after Urban Outfitters and American Eagle Outfitters reported below-par revenue over the holiday season. Urban Outfitters saw sales at its namesake stores fall 9%, while American Eagle suffered a 7% drop in revenue. Meanwhile, J.C. Penney shares were popping after it received an upgrade to "buy" from Citigroup. The firm said the department store chain could achieve positive comps growth over 2014 if it goes back to basics.