Shares of The Gap Inc.(NYSE:GPS) turn around their losing streak after Goldman Sachs initiates coverage with a Buy rating. The stock could be getting a little support from Rebook chain store sales data for last week that came in just a tad over expectations even with consumers "procrastinating" over purchases. Shares of the company are up 2.60%.
Hertz Global Holdings, Inc.(NYSE:HTZ) trades lower by 3.50% after a group of investors dump 50M shares. The sale was an allotment of stock held by investment funds associated with Clayton, Dubilier & Rice.
L&L Energy, Inc.(NASDAQ:LLEN) reports FQ2 EPS of $0.21 on ~$55M in revenues. Net income attributable to LLEN increased 104% Y/Y to $7.7M. Coal mining production rose 93% Y/Y to 185K tons from 96K in the year-ago quarter and up 24% from 149K tons in Q1.
Shares of J J.C. Penney Company, Inc.(NYSE:JCP) get a lift with positive comments out from Oppenheimer and reports saying customer traffic was strong last weekend. An exec with the retailer noted in-season markdowns on coats and jackets were due to an unseasonably warm November that slowed sales of the items. It's the kind of grounded comment Wall Street has been looking for after the dreamy rhetoric of Ron Johnson over the last year has worn thin. Shares of the company rose 6%.
Rio Tinto plc (ADR)(NYSE:RIO) says it will sell its 57.7% effective interest in Palabora Mining (PBOAF.PK) for $373M to a consortium of South African and Chinese entities. RIO and Anglo American had said Palabora’s main asset, a South African mine that produces copper and magnetite, is "no longer of a sufficient scale" to warrant continued investment.
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