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J. C. Penney Company, Inc. (NYSE: JCP) shares rallied on Wednesday and closed up 8.38 percent after investors gained an optimistic outlook on the company’s future. The retailer reported its seventh straight quarter of big losses that together total more than $2.4 billion yesterday. Also revealed was that the company lost $489 million, or $1.94 per share, in the three months that ended on Nov. 2. That compares with a loss of $123 million, or 56 cents per share, a year earlier. Signals from management however indicated that the company may be turning around.
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Life Stem Genetics Inc. (OTCBB: LIFS) shares closed up 6.36 percent on Wednesday on nearly 2 million shares traded. The stock hit a new 52-week high of $1.86 during intra-day trading yesterday. Earlier in the week the company announced the closing of its previously announced private placement. The financing is for $1.0 million (the “Private Placement”) of 1,000,000 units (each, a “Unit”) at a price of $1 per Unit.
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China Xiniya Fashion Limited (NYSE: XNY) shares closed up 14.50 percent on Wednesday with almost 1.3 million shares traded. The stock had one of the largest percentage gains on the NYSE yesterday. Earlier in the week the company reported financial results for the third quarter of 2013. Revenue during the third quarter of 2013 decreased 6.7% to RMB389.8 million, from RMB417.9 million in the third quarter of 2012; within the prior guidance range of (7)% to (2)%.
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China Housing and Land Development, Inc. (NASDAQ: CHLN) shares closed down 32.66 percent on Wednesday. The company had one of the largest drops on the NASDAQ yesterday. Earlier in the week the company announced its financial results for the quarter ended September 30, 2013. Total revenue in the third quarter of 2013 was $24.8 million compared to $57.8 million in the second quarter of 2013 and $28.7 million in the third quarter of 2012.
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