Shares in JC Penney (NYSE: JCP) rose 14.5% for the week as the faltering retailer appointed Ron Johnson, who has run Apple’s (NASDAQ: AAPL) retail stores as its next CEO. The market should be troubled by the role that long-time chief Myron Ullman will play as executive chairman. The description of his duties is vague enough to beg the question of who is in charge.
Shares of Lorillard (NYSE: LO) moved higher by 10% because it appears that regulations of menthol cigarettes will not tighten. Shares of VF Corp (NYSE: VFC) also rose 10% as it bought retailer Timberland for $2 billion.
Douglas A. McIntyre
| S&P 500 WEEK TOP 10
(10 JUN – 16 JUN) |
Ticker | Weekly Price Change (%) | Close Price 16Jun11 | Close Price 10Jun11 | Market Cap ($Mil) |
| J. C. Penney Company Inc. | JCP | 14.5 | 34.27 | 29.92 | 7405.7 |
| Lorillard Inc | LO | 10.0 | 109.85 | 99.85 | 15786.0 |
| V.F. Corp | VFC | 10.0 | 100.96 | 91.80 | 11044.8 |
| CarMax Inc | KMX | 7.2 | 28.76 | 26.84 | 6495.5 |
| Tyson Foods Inc. | TSN | 5.6 | 18.08 | 17.12 | 5595.6 |
| Best Buy Co. Inc. | BBY | 5.6 | 30.01 | 28.43 | 11665.4 |
| Tenet Healthcare Corp | THC | 5.4 | 6.23 | 5.91 | 3049.9 |
| Fastenal Co | FAST | 4.8 | 32.46 | 30.97 | 9571.2 |
| HCP Inc | HCP | 4.7 | 36.69 | 35.03 | 14897.1 |
| Cabot Oil & Gas Corp | COG | 4.5 | 60.43 | 57.83 | 6312.9 |
| Source: Capital IQ |
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