Net income in the third quarter for J.C. Penney Co. Inc fell 35 percent. The retailer reported EPS of $0.27 for the quarter, down from $0.42 a year ago. “The results in last year’s third quarter were helped by earnings from businesses that Penney no longer operates. Without those, last year’s third-quarter profit would have been only 30 cents per share.” The CEO made a reference of a better holiday season, even with the disappointing news, the stock price rose due to future upbeat expectation from investors. -K.C. Ho