The signage is seen on a shopping cart inside a J. C. Penney Co. the store in Peoria, Illinois.
Daniel Acker | Bloomberg | Getty Images
Check out the companies to make headlines in midday trading.
Coty The cosmetics company has continued its decline following its poor result on Tuesday. Coty, the biggest loser in the S&P 500 tanks of 13%. Coty also agreed to sell a majority stake in its beauty, hair companies,, Wella and Clairol brands, the investment firm KKR in a deal valued at $ 4.3 billion. The stock has been downgraded to hold by BNP Paribas, and has achieved its target price reduced by Stifel and Deutsche Bank.
Norwegian Cruise Line, Carnival, Royal Caribbean The cruise lines have been under pressure, once again, as investors were jittery about the economy and the re-opening. The Norwegian and the Carnival fell more than 9% each, for a time, Royal Caribbean, has dropped 7.1%.
J. C. Penney Shares of the retailer jumped more than 19% after CNBC learned that a they, the retailer, is in talks with the lenders
before a bankruptcy filing that could come as early as Friday, according to people familiar with the matter. The company, once worth billions, and is now worth a bit of $ 79 million, with the stock trading for pennies on the dollar.
GE The shares of the industrial conglomerate has slipped more than 7% to the lowest level in more than 11 years of experience. The stock has broken below $5.73, which is the lowest level reached during the depth of the financial crisis in 2009.
Thank you The actions of the asset manager, has increased by more than 4% Wednesday after the cabin crew announced that it would sell its interest in the company of us $420 per share, more than the $30 per share below where the stock closed on Tuesday. The sale is expected to result in an increase in the index of ownership of BlackRock, and to remove certain regulatory restrictions to a Firm, Sharp, said in a note to clients.
Occidental Petroleum – Shares of Western fell to 8% after Reuters reported that the energy company is offering its employees voluntary buyouts in the next two weeks. Western city of the COVID-19 in the event of a pandemic and the sharp decline in oil prices for the move.
Amazon, Netflix Big tech continues to outperform, with shares of Amazon and Netflix are up 0.6% and 0.9%, while the S&P 500 was down nearly 2% at midday. The duo technology, have benefited from the stay-at-home-trend-the-middle-of-the-corona virus of the pandemic.
— CNBC Maggie FItzgerald, Jesse Book, Pippa Stevens and Fred Imbert contributed to this story.
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