J. C. Penney (JCP: Quote) gapped open lower Tuesday and has continued to lose ground in early trade. The stock is now down 0.99 at $15.75 and is testing the lows of the year, trading at a 3 1/2 month low.
According to media reports, Deutsche Bank AG will help New York-based real estate investment trust Vornado to sell 10 million shares of J.C. Penney in an unregistered secondary transaction.
by RTT Staff Writer
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