MARKET PULSE-J.C. Penney, Hertz, USA Truck, Kior, Covisint, Speed Commerce
(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 slightly on Thursday after five straight declines, buoyed by job market data, but investors remained cautious about the potential economic impact of an ongoing stalemate in budget and debt negotiations in Washington. The Dow Jones industrial average rose 33.85 points or 0.22 percent, to 15,307.11, the S&P 500 gained 2.63 points or 0.16 percent, to 1,695.4 and the Nasdaq Composite added 19.437 points or 0.52 percent, to 3,780.535.
** J.C. PENNEY CO INC, $10.52, up 4 pct (01:32 p.m. ET)
J.C. Penney Chief Executive Myron Ullmantold investors he does not see the need to raise cash this year, CNBC reported, reversing a sharp fall in the retailer's shares. J.C. Penney shares jumped 18 percent from their early morning low after CNBC reported Ullman's comment, citing a source.
** HERTZ GLOBAL HOLDINGS INC, $22.39, down 11 pct (01:21 p.m. ET)
** AVIS BUDGET, $28.75, down 4.5 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.