Week's Market Losers: JC Penney, Schwab, News Corp And More

Investing

Published: July 9, 2011 7:58 am

Last Updated: July 9, 2011 8:01 am

News Corp (NYSE: NWSA) share dropped 3.5% as the company faced a large bribery and phone hack scandal in the UK and closed it New of the World paper. The stock was down more midweek before the paper was shuttered. News Corp’s chance to take over BSkyB, which might has been CEO Rupert Murdoch’s crowning achievement, were damaged.

June retail sales were strong for most firms in the industry. A notable exception was J.C. Penney (NYSE: JCP which posted figures below expectations. It has hired a senior retail executive from Apple (NASDAQ: AAPL) to turn around its fortunes. The move could not happen soon enough. The stock was down almost 4% for the week.

Charles Schwab (NASDAQ: SCHW) was ordered to pay back investors in its YieldPlus Fund. The fund took undisclosed risks. Schwab share closed the week off by 3.6%.

S&P 500 WEEK: BOTTOM 10 (01 JUL – 07 JUL)	Ticker	Weekly Price Change (%)	Close Price 7Jul11	Close Price 1Jul11	Market Cap ($Mil)
Noble Corp	NE	-5.0	37.69	39.67	9504.1
MEMC Electronic Materials Inc	WFR	-4.3	8.21	8.58	1891.7
J. C. Penney Company Inc.	JCP	-3.7	33.73	35.03	7191.5
Schwab (Charles) Corp	SCHW	-3.6	16.12	16.72	19452.5
Motorola Mobility Holdings Inc	MMI	-3.6	22.64	23.48	6677.8
News Corp	NWSA	-3.5	17.43	18.06	31863.9
Masco Corp	MAS	-3.4	12.04	12.46	4311.5
Morgan Stanley	MS	-3.2	23.00	23.76	35527.1
WellPoint Inc	WLP	-3.1	78.27	80.79	28737.8
Western Union Co	WU	-2.8	19.68	20.24	12443.0
Source: Capital IQ

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