JCPenney Announces Resignation of Chairman and CEO Marvin Ellison

JCPenney Announces Resignation of Chairman and CEO Marvin Ellison

JCPenney Announces Resignation of Chairman and CEO Marvin Ellison

Dreiling served as CEO of discount chain Dollar General from January 2008 to June 2015, a period that included an unsuccessful bid to buy Matthews-based rival Family Dollar Stores.

Smaller companies slumped after setting records the last few days.

The Chinese Finance Ministry Tuesday said that it will cut import duties on passenger vehicles from 25% to 15%, starting July 1. Brent crude, used to price global oils, rose dropped 52 cents to $79.05. The Nasdaq composite picked up 9 points, or 0.1 percent, to 7,403. Lowe's fell 0.8 percent to $86.73.

BONDS: Bond prices dipped.

IPL 2018: CSK edge out SRH in thriller to enter final
In fact, when Brathwaite hit him over midwicket boundary off the first ball of the 18th over, it was the first six of the innings. In one such video, all-rounder Dwayne Bravo celebrated the victory with a dance in the dressing room along with Harbhajan Singh.


Technology companies and banks are rising Tuesday morning as USA stocks head higher for the second day in a row.

Japan's benchmark Nikkei 225 dipped 1.3 percent to 22,661.88, while Australia's S&P/ASX 200 inched down almost 0.2 percent at 6,031.40 in early trading. He is a past chairman of the Retail Industry Leaders Association (RILA) and serves on the board of Aramark, Kellogg Company and PulteGroup, Inc.

The Home Depot magic Penney hoped Ellison would bring with him never materialized.

At J.C. Penney, Ellison was tasked with stemming a two-year long sales decline as the company struggles to stay relevant in a brutal US retail landscape, where customers are increasingly turning to online shopping. Lowe's rose 0.3 percent to $87.62.

China, US near deal on ZTE reprieve; Beijing cuts car tariffs
One of China's trade demands in talks with the United States this month included removing a ban on selling it integrated circuits. To that end he has demanded that the Chinese work to reduce the $US335 billion ($442 billion) trade deficit by $US200 billion.


The Dow Jones Industrial Average closed 178.88 points, or 0.7%, lower to 24,834.65. The yield on the 10-year Treasury note rose to 3.08 percent from 3.06 percent.

TRADE HOPES: This week investors have grown more hopeful that the trade dispute between the USA and China will be resolved without major effects on the global economy.

China will cut the import tariffs it charges on cars to 15%, which will give a boost to foreign automakers in the world's largest market, especially for USA automakers.

STOPPING SHORT: Tesla lost 3 percent to $275.92 after Consumer Reports said the company's Model 3 sedan has longer emergency stopping distances than any other modern vehicle it has tested.

Pompeo waging psychological warfare to undermine Iran's economy: former official
The remarks by Pompeo came almost two weeks after his boss Donald Trump withdrew the US from the 2015 worldwide nuclear deal. Iran must also "release all United States citizens" missing or being held on "spurious charges", he said.


There's an increased level of interest about Lowe's (LOW -1.1%) Q1 earnings report tomorrow after the retailer made one of the most interesting CEO hires of 2018 when it named current J.C. Penney chief Marvin Ellison to the position. J.C. Penney slumped 7.2 percent.

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