Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, March 28, 2008

Article Excerpt

IDEARC INC. $3.86, New York symbol IAR, fell 15% on Friday after the company said it will stop paying its $0.3425 a share quarterly dividend. Idearc does not expect any near-term liquidity problems. However, it wishes to conserve cash as the slowing economy has hurt demand for advertising at its Yellow Pages phone directories, which supplies 90% of its revenue. Idearc is now a hold. J.C. PENNEY CO. INC. $37.48, New York symbol JCP, fell 7% on Friday after it said it would earn about $0.50 a share in its first fiscal quarter ending April 30, 2008. That’s about a third less than its previous estimate of up to $0.80 a share. Higher gasoline, food and other costs have hurt customer traffic and sales. However, sales should improve in the second quarter as consumers receive their one-time tax rebate checks in May. As well, Penney’s strong inventory management and cost cuts put it in a good position to thrive once consumer spending…