www.valuewalk.com/2014/02/...c-penney-just-cant-catch-a-break/
J.C. Penney falls despite gains
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) took the biggest dive midday, down -9.37%. The gaming company behind Grand Theft Auto and Manhunt reported adjusted earnings of $1.70 late Monday and sales of $767.7 million. That apparently hasn"t pleased investors, though, who have started to dump the stock in light of reports that the company is losing visibility and attractiveness. None of our billionaires were affected by this one.
Also taking a hit today is International Tower Hill Mines Ltd (NYSEMKT:THM), which plunged -8.55% and is under tough scrutiny from industry professionals. Although it owns some of the largest untapped gold mines in the country, analysts remain unconvinced that it"s a good investment given that all of its serves are in low-grade gold and the price of precious metal has been losing value steadily. Moreover, the business of mining comes with a lot of operation costs that hurt the bottom line. Of the billionaires tracked by iBillionaire, only John Paulson has a stake THM, which represents 0.02% of his fund.
Rounding out today"s list of midday losers is retail behemoth J.C. Penney Company, Inc. (NYSE:JCP). Soros, David Tepper and Thomas Steyer are at play here, J.C. Penney composing 1.93%, 0.10% and 0.09% of their portfolios, respectively. Even as it reported sales at locations open for at least a year rising two percent in Q4, it apparently wasn"t enough for the market. Given that J.C. Penney fell -32% the year before, this isn"t exactly a surprise. And investors weren"t likely impressed by its Super Bowl Twitter tactics, either.