The Services sector plunged lower on Thursday almost 0.28% as 12% of its stocks ended the session below 2%, while 43% stayed in a range of negative 0-2%.
Amazon.com Inc. (NASDAQ:AMZN) was among the leading decliners of the day as its shares moved down -0.33% on Thursday on news that the US’s leading discount retailer, Wal-Mart Stores (NYSE:WMT), reported on Thursday that it was eliminating Amazon’s (AMZN) Kindle tablets and e-readers, a hint of how aggressively it takes Amazon as its rival in the consumer goods segment.
On the positive side, Sirius XM Radio Inc (NASDAQ:SIRI) shares jumped +3.21% and closed at $2.57 with the total traded volume of 117.41 million shares. It has outstanding shares of 3.83 billion with the total market capitalization of 9.85 billion and its beta value stands at 2.14 times. SIRI has a current ratio of 0.96.
Sirius XM Radio (SIRI) announced that it will broadcast the 27th annual Farm Aid concert, carrying on its habit of broadcasting the famous show live, in 2012 from Hershey Park Stadium in Hershey, Pennsylvania.
Farm Aid 2012 would be launched on Willie Nelson’s exclusive Sirius XM channel, Willie’s Roadhouse, on 22nd September.
Shares of CSX Corporation (NYSE:CSX) slipped -5.70% and closed at $21.49 with the total traded volume of 26.12 million shares. The stock opened at $21.73 and its shares were trading within the range of $21.37-$22.20. CSX has earnings per share of $1.78 and its price to earnings ratio ended at 12.06.
One of the laggards of the day was J.C. Penney Company, Inc. (NYSE:JCP) whose stock plunged -11.21% with the closing price of $25.83. The overall volume in the last trading session was 24.85 million shares. Its fifty two week range was $19.06-$43.18. The total market capitalization remained $5.66 billion.
JCP is ahead of its 52 week low 35.52% and its last month price volatility remained 4.11%. Its beta coefficient was 1.85 with a target price of $26.33. The Company’s current year earnings per share declined -144.02% while the five year EPS growth rate was -28.56%.
J.C. Penney Co. (JCP) declined the most in four months following Chief Executive Officer Ron Johnson’s display of the stores’ new design was unsuccessful to arouse confidence in his restructure of the 110-year-old retailer.
