Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, June 17, 2011

Article Excerpt

J.C. PENNEY CO. INC., $34.29, New York symbol JCP, jumped 15% this week after it named Ron Johnson as its new chief executive officer, effective November 1, 2011. Mr. Johnson helped develop computer maker Apple Inc.’s hugely successful retail stores. Shoppers have shifted away from department stores and toward specialty retailers in the past few years. The new CEO should help Penney remodel its stores to attract younger shoppers. In addition, he will probably focus on improving Penney’s customer service, as he did with Apple. J.C. Penney is a buy. CONAGRA FOODS INC., $24.65, New York symbol CAG, has acquired the rights to the “Marie Callendar’s” trademark from the California-based Marie Callendar’s Restaurant & Bakery chain. The company has a long history with this brand. In 1994, ConAgra acquired the license to sell frozen meals and pot pies under Marie Callendar’s name. In 2010, it expanded this license to include frozen dessert pies. ConAgra paid $57.5 million for this trademark. That’s equal to 27%…

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