J.C. Penney Breaks Down After Earnings Beat, Down Nearly 3% (JCP)

J.C. Penney Company, Inc. JCP shares are down sharply from their highs, and have moved into negative territory, after beating Wall Street estimates for quarterly earnings. At last check, shares were off $1.09 to $37.35, after having been as high as $41.00 earlier in the session. J. C. Penney Company, Inc., through its subsidiary, J. C. Penney Corporation, Inc., operates a network of department stores in the United States and Puerto Rico.