J.C. Penney reported its sixth straight quarter of big losses and steep revenue drops as it continued to face challenges related to a botched turnaround plan spearheaded by its ousted CEO Ron Johnson.... more 
J.C. Penney reported its sixth straight quarter of big losses and steep revenue drops as it continued to face challenges related to a botched turnaround plan spearheaded by its ousted CEO Ron Johnson. But investors sent Penney shares up six percent to nearly $14 in an expression of confidence that returning CEO Mike Ullman has started to stabilize the business. Stocks are closing mostly higher on Wall Street after better results from Best Buy and other retailers. A federal judge has approved Kodak's plan to emerge from bankruptcy protection. Judge Allan Gropper's ruling paves the way for the photography pioneer to emerge from court oversight as a new company focused on commercial and packaging printing. less 
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Wochit
Tue, Aug 20, 2013 5:23 PM EDT