This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

J.C. Penney Ousts Ron Johnson, Brings Back Ullman: Hot Trends

Stocks in this article: JCP MA V AAPL

NEW YORK ( TheStreet) -- Popular searches on the Internet include J.C. Penney (JCP) after the department store retailer's board ousted CEO Ron Johnson, replacing him with his predecessor, Mike Ullman.

News of Johnson's departure broke late Monday, sending shares of J.C. Penney up nearly 13% in after-hours trading. However, after news that Ullman would return to the helm broke shares fell to about 6% below their closing price.

Johnson's tenure as CEO lasted only 17 months. He was hired from a top job at Apple (AAPL), where he was commended for helping to make the company's retail stores so successful. But his turnaround plan for J.C. Penney, which employed a "no sales or coupons" upscale strategy, failed miserably. The stock fell nearly 53% in a year.

Ullman was chief of J.C. Penney from 2004 until 2011. He is not credited with revolutionizing the company's image or bringing in new customers, but rather overseeing the retailer's stable sales.

KPMG is trending after the accounting firm said it fired a partner for insider trading.

The firm said late Monday night that it fired a partner in its Los Angeles office for allegedly giving private client information to a third party which used it for stock trades. KPMG said it learned of the incident last week and immediately fired the individual. It also said it had to end business relationships with two clients as a result of the former partner's actions.

KPMG did not indicate whether an investigation on behalf of the Securities and Exchange Commission has begun.

KPMG has 22,000 partners and employees.

MasterCard (MA) is another popular search. The credit card company is being investigated by European Union regulators over antitrust concerns.

EU regulators said it is looking into whether the company's card fees for non-European cardholders and policies violate EU antitrust rules. They said they will also be investigating MasterCard's policies that force merchants to accept all MasterCard variations and rules that inhibit merchants from seeking better terms from other banks.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs