Shares in JC Penney (NYSE: JCP) rose 14.5% for the week as the faltering retailer appointed Ron Johnson, who has run Apple’s (NASDAQ: AAPL) retail stores as its next CEO. The market should be troubled by the role that long-time chief Myron Ullman will play as executive chairman. The description of his duties is vague enough to beg the question of who is in charge.
Shares of Lorillard (NYSE: LO) moved higher by 10% because it appears that regulations of menthol cigarettes will not tighten. Shares of VF Corp (NYSE: VFC) also rose 10% as it bought retailer Timberland for $2 billion.
Douglas A. McIntyre
|S&P 500 WEEK TOP 10
(10 JUN – 16 JUN)
|Ticker||Weekly Price Change (%)||Close Price 16Jun11||Close Price 10Jun11||Market Cap ($Mil)|
|J. C. Penney Company Inc.||JCP||14.5||34.27||29.92||7405.7|
|Tyson Foods Inc.||TSN||5.6||18.08||17.12||5595.6|
|Best Buy Co. Inc.||BBY||5.6||30.01||28.43||11665.4|
|Tenet Healthcare Corp||THC||5.4||6.23||5.91||3049.9|
|Cabot Oil & Gas Corp||COG||4.5||60.43||57.83||6312.9|
|Source: Capital IQ|