Daily business briefing: J.C. Penney stock falls amid bankruptcy rumors

October 16, 2013 

BND

Daily business briefing: J.C. Penney stock falls amid bankruptcy rumors

Shares of J.C. Penney stock fell by as much as 8 percent Tuesday as rumors circulate that the retailer is going bankrupt. On Tuesday, a spokeswoman from the company denied the rumor. J.C. Penney has nine stores in the St. Louis metro area including one at St. Clair Square in Fairview Heights. Read more at http://www.bizjournals.com/stlouis. ...

***

So far, financial markets continue to hold steady as a deadline to raise the country's debt ceiling is just hours away. Most stock markets edged lower Wednesday. Unless Congress acts by Thursday, the government will lose its ability to borrow and will be required to meet its obligations by relying on cash in hand and incoming tax receipts. Find out more at http://www.bnd.com/business. ...

***

It's the snack division of PepsiCo Inc. that has recently boosted the company's sales to a higher-than-expected profit for its third quarter. The company has reported stronger sales of its Frito-Lay snacks helped offset weaker results in its North American beverage unit. For more information, read http://www.bnd.com/business. ...

***

Advance Auto Parts Inc. has announced it will buy General Parts International Inc. for $2.04 billion in cash. The transaction will create the biggest automotive replacement parts provider in North America. To learn more, go to http://www.bnd.com/business.

-- Will Buss, BND business writer

Belleville News-Democrat is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service