Seeking Alpha Author Darren McCammon joins Cheddar to discuss why investing in JCPenny's small bond $KTP may be more beneficial than investing in the company stock.
He says that in order for the investment to be successful, JCPenney has to basically just stay afloat. It doesn't have to be doing well. And at this point, that may be a good thing, because the retailer's "reinvention" of itself isn't yielding the best results. McCammon says it's doing well in its electronics and appliances divisions, but lagging in women's clothing...which used to be the crux of the business.
Plus, how does it stack up against Sears? McCammon says Sears' debt load is a much bigger problem than JCPenney's. He expects the troubled company to go bankrupt after the holiday season. This will benefit JCPenney, because Sears customers will move their money over.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
