Market Focus

J.C. Penney

J.C. Penney announced a major restructuring after the market close today. The struggling retailer said it will cut around 2,000 jobs and close 33 under-performing stores in an effort to save about $65 million a year. Shares fell in after-hours trading. The stock was up 1% in the regular session to $7.01.

Yahoo

Yahoo also had big news after the bell. The company’s chief operating officer is leaving effective tomorrow according to a filing with the SEC. Henrique De Castro gave no reason for his abrupt departure. He was brought in by CEO Marissa Mayer two years ago. Shares fell slightly to $41.07.

Aetna 

Aetna raised its full-year revenue outlook by $1 billion saying that private medicare sign-ups were better than expected. The insurers now expects revenue to come in at $54 billion. Still, Aetna’s stock fell a bit to 471.40

CSX 

CSX Corporation said its quarterly profits fell nearly four percent. The railroad operator blamed the miss on sharp declines in coal hauling. That masked a jump in volume from strong shipments of chemicals, autos and agricultural products. Shares dropped in after hours trading, but rose one percent in the regular session to $29.23.

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