MARKET PULSE-World Wrestling, Kamada, Sorl Auto Parts, Smart Technologies

Fri May 16, 2014 2:01pm EDT
 
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s)

U.S. stocks slipped on Friday, trimming some of their earlier declines after some positive earnings, though investors remained wary of lingering weakness in small-cap names. The Dow Jones industrial average was down 0.12 percent at 16,426.42, and the S&P 500 was down 0.10 percent at 1,868.99.

** J.C. PENNEY CO INC, $9.5, +13.50 pct

The retailer's return to "old school" retailing paid off for the second consecutive quarter. Comparable store sales rose 6.2 percent in the first quarter ended May 3, helped by demand for household goods, men's and women's clothing, and jewelry, the company reported on Thursday.

At least five brokerages raised their price targets on the company's stock.

"Whether you love or hate the name, JCP's first quarter release was solid ... with upside across both top-line and margins," JP Morgan analyst Matthew Boss said in a note.

** CHESAPEAKE ENERGY CORP, $27.64, -4.66 pct   Continued...