Shares of J.C. Penney ( JCP) are sliding, while Lowe's ( LOW) shares are on the rise, after the department store owner announced that Chairman and CEO Marvin Ellison will resign from his role to head up the home improvement retailer, effective July 2. Commenting on the news, Baird analyst Peter Benedict told investors he sees the move as a "best-case scenario" for Lowe's shareholders.
J.C. Penney Slides As CEO Leaves For Lowe's
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