MARKET PULSE-J.C. Penney, Hertz, Westport, Eli Lilly, HB Fuller
(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 rose at the open on Thursday in the wake of upbeat job market data, with investors still focused on the possible economic impact of an ongoing impasse in budget negotiations in Washington. The Dow Jones industrial average was up 0.26 percent, the S&P 500 was up 0.25 percent and the Nasdaq Composite was up 0.39 percent.
** J.C. PENNEY CO INC, $10.02, down 3 pct (09:36 a.m. ET)
The struggling retailer's shares fell amid concerns the company may not be able to boost its cash reserves ahead of the crucial holiday season. The company is looking to raise up to $1 billion in new equity, Reuters reported on Wednesday.
J.C. Penney shares fell as much as 8 percent in premarket trading on Thursday but reversed course after the company said it still expected positive comparable-store sales trends coming out of the third quarter and throughout the fourth.
** HERTZ GLOBAL HOLDINGS INC, $22.39, down 11 pct (09:31 a.m. ET)
** AVIS BUDGET, $29.04, down 3.5 pct
No.2 U.S. car rental company Hertz cut its full-year revenue forecast due to weaker-than-expected airport car rental volumes in the United States, the company's biggest business.
Shares of rival Avis Budget also fell on the news. Continued...