As the trading day winds down Wednesday, there have been several large-cap stocks that have been all over the map in terms of movement today, but this daily list focuses on those that have made the most noteworthy moves away from their opening prices. Today’s slist is very short and sweet, but features at least one recognizable name – J.C. Penney (NYSE:JCP).
J.C. Penney has been riding a roller-coaster in the last month, and Wednesday is seeing its stock tumble about 6 percent to about $21.15, thanks to a warning from Cleveland Research that said July sales looked weak. And then, when CEO Ron Johnson took to the CNBC airwaves and talked about “re-training our customers,” that has further spooked investors away.
On the positive side of the movement elevator is Frontier Communications (NASDAQ:FTR), which has spiked nearly 11 percent on the day to about $4.35 due to analysts’ positive view of Frontier’s cash flow and its broadband/TV network additions overshadowing wireline losses from its earnings report. A couple of analysts have upgraded the stock to a Buy, while Nomura raised its 2012 revenue forecast for the company.
Also finding itself in the green today is Pioneer Natural Resources (NYSE:PXD), which is up more than 5 percent today even after missing a bit on its earnings report. Investors seem to be comforted, though, by the firm’s revenue number being up 15 percent over a year ago despite commodity prices dropping during that time. Pioneer also upped its 2012 resource potential from billion BOE to 7 billion BOE, with a production growth target of 29 percent, up from 25 percent.