Midday movers: JC Penney, Sears, Barnes & Noble

Stocks are slightly higher despite a weaker-than-expected estimate on GDP growth.

By MSN Money Partner Feb 28, 2013 3:14PM
copyright Corbis, SuperStock logoInformation provided by Theflyonthewall.com

A number of well known retailers saw their stocks decline following their earnings reports, headlined by JC Penney (JCP). The company reported a much wider than expected quarterly loss and said its same-store sales plunged 31.7% during the holiday quarter. Shares declined over 15% following the report. 

Another embattled department store, Sears (SHLD), saw its shares fall more than 5% after its own report.

Among the notable gainers following their earnings reports were Universal Display (PANL), which jumped 13%, Barnes & Noble (BKS), which rose over 7%, and Monster Beverage (MNST), which advanced nearly 6%. 

Among the noteworthy losers was Groupon (GRPN), which plummeted more than 19% after it unexpectedly reported a quarterly loss, guided to much worse than expected sales in the coming quarter and the stock was downgraded by at least three firms. 

Also sharply lower were shares of BroadSoft (BSFT), which dropped 28% after its stock was similarly downgraded by at least three firms following disappointing results and guidance. 
Tags: BKSBSFTGRPNJCPMNSTSHLD
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