. >> kimberly, j.c. penneysn't report same store sales but based on what you've seen from some of the other retailers, who is winning from j.c. penney's turnaround process and who might be losing in fact? >> you're absolutely right. j.c. penney looks to us like they are donating some share. my partner here michelle clark at morgan stanley covers j.c. penney, and her estimate is their first-quarter comps are down in the mid to high teens range. that's a lot of share coming out of j.c. penney. we published a really extensive report on this analysis and who might be the beneficiaries be a few weeks ago. the department stores dillard's and macy's screen very high and kohl's has a significant overlap. down further on the list and still benefiting significantly, old navy, gap stores, ross and tjx, all beneficiaries of that j.c. penney share coming out. >> i have a quick one here. apple, not a stock covered by you guys, but these guys are gaining 30 billion a year in sales, predominantly on consumer discretionary thin

there's j.c. penney shares giving back about 1.66% and looks like the declines are accelerating a little bit. >>> with the 2012 masters tournament golf season is in full swing. the industry is growing for the first time in five years with the number of rounds played on american courses climbing for four months in a row. calloway is one of golf's most iconic names, and this morning it announced it's selling its top flight brand to dick's sporting goods. with him now in his first broadcast interview is chip brewer. chip, welcome to the "fast money" "halftime report." >> great to be here. >> weather obviously benefited the retail thames that we've been listing throughout this program today. retail sales were good. does it translate into golf? >> yeah. it really does. the golf industry is off to a great start this year. rounds are up. weather has been good. the consumer is coming back, and -- and very optimistic really across the channels. >> phil is your guy. hasn't teed off yet. will tee off late they are

j.c. penney's allure? sell like somehow we are going to be so great we will always offer you the lowest prices out there, i think that was dead an arrival. >> think different, my friend. think different. >> ben, what do you got? >> d. f. e. m. x., the emerging market. those guys are so sharp at dimensional funds and putting together indexes it's almost unbelievable. i've had extremely good results with it by my modest standards, and i just love t i hope to keep it for the rest of my life. >> emerging markets? >> love emerging markets but if you want to avoid inflation, by caterpillar that exploits the emerging market. >> so you would do a single stock alternative to cutting the risk? >> i like a lot of american companies, like apple, for example, making over 60 percent of theironey off t rest of the world. but i love emerging markets. >> guys, all have a very safe, holy weekend and viewers as well, as we continue with the holy quest for money, more on fox. on fox.

along with j.c. penneyansformation plan came the revelation that the retailer will no longer report monthly comp sales numbers leaving you to wonder how the merchandise is moving under the new plan. the metamorphosis began with new pricing, the logo change and new marketing on february 1st. stores have been decluttered by reducing inventory and signage but the plan won't actually begin until august and the town square ideas are entirely under wraps. the entire transformation won't be complete until the end of 2015. >> i would give them a "b" in terms of how quickly they have come on and been able to get things up and running, and where i think that can move to an "a" is if the brands and if the town square initiative as we hear more about it can drive the traffic as desired. >> former may department store exic jan given says despite successfully converting stores and slicing expenses, the changes aren't resonating with customers. two-thirds don't even know about the new pricing. store for store sales are do

. >>> j.c. penney is cutting about 900 jobs. the retailer announced today it is looking to streamline operations and save about $900 million. 600 of the jobs will be at the company's headquarters in texas. the other 300 will be at the department store's call center in pittsburgh. j.c. penney is the nation's fourth largest department store. the 110-year-old retailer slashed prices earlier this year as part of a new pricing strategy. it appears virginia has avoided a government shutdown. >> lawmakers reached a tentative agreement on an $85 billion budget last night that'll keep the commonwealth operating for the next two years. negotiations nearly broke down over a dispute over funding that would prevent steep toll hikes on the dulles toll road. democrats have pushed for that additional money but republicans were able to keep it out of the final agreement. lawmakers will vote on the budget april 17th. >> a cool day across our area. get ready for a big chill. >> meteorologist doug kammerer joins us from the storm center with detail

right now, j.c. penney and these are the jobs. >> brenda: okay, now what? you guys, you are the milquetoast gang, next time we're going to have to get you going. all right? all right. the free market kicking back in. so, why is everyone freaking out? neil's gang has the tough love answer we need to here at the bottom of the hour. first, paying more or getting less, the health care scare that's already here next. (siren sounding) for a hot dog cart. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years. ♪ why do you whisper, green grass? ♪ [ all ] shh! ♪ why tell the trees what ain't so? ♪ [ male announcer ] dow solutions use vibration reduction technology to help reduce track nois

the first up, j.c. penneyst department store will be laying off employees looking to streamline operations and a major reinvention of the company. 600 of them will be at the headquarters in taxes. the department store chain also announced that they will eliminate 300 more jobs and a customer call center in pittsburgh when they close it july 1st. it is a plan to cut annual costs by approximately $900 million by the end of next year. the second major announcement, ruby tuesday will be closing a string of the restaurant by the end of the year. they want to improve marketing and they will acquisition in mexican food chain. 30 locations are on the chopping block. the ceo says the company had trouble keeping up with peers that relied heavily on advertising in big promotions to draw customers. just over one week away for the deadline file taxes. here's chris clackum on what americans plan to do with their tax refund. >> credit card companies, banks, anyone to extend credit will not like with like to hear. >> 42% say

j.c. penney's is trimming 13% of its workforce at its texased had quarters. are -- texas headquarters. fewer companies handing out pink slips, a signal maybe more job creators will be feeling better about the economy. tomorrow we get the government's key march jobs report. take that new jersey. first it was amex, now two more gift card companies will stop selling prepaid cards in the garden state saying no thanks to a new jersey law requiring companies to provide personal information on gift card buyers to help the state confiscate unused money. that's business. i'm neil cavuto.   >> this fox 5 stock market report is brought to you by your lexus dealer. live life heroically.  >>> if you'd like to take your favorite wine out to a special dinner, you will soon be able to do that in maryland. the legislature approved a bill allowing patrons to bring their own bottles, but that might not apply to every restaurant. fox 5's tom fitzgerald has details. >> reporter: at the statehouse in annapolis lawmakers have uncorked a new era

j.c. penney reports it's laid off more than 10% of the staff.er the new ceo promises top to bottom revamp of the company. it will reportedly fire 300 call center workers later this year. the news drove its stock down about half a cent today. the price of a share has fallen more than $8 just since february. for the second straight day the president signed a bill with bipartisan support. the president says the so-called jobs act would give small business as boost by making it easier for them to go public. he calls it a potential economic game changer. and the house speaker john boehner agreed saying and i quote: with so many americans still asking where are the jobs? republicans will continue to find and act on areas of common ground. that would make it easier for small businesses to grow and hire new works. one man's money troubles are becoming a symbol of the whole nation's economic crisis. [shouting] [explosion] >> shepard: protesters in greece holding rallies after an elderly pharmacist killed himself outside of parliament. a suicide note repo

there were threatening to boycott j.c. penney after allen and the generous has been appointed.ay with us, more news. [ crickets chirping ] [ traffic passing ] ♪ [ music box: lullaby ] [ man on tv, indistinct ] ♪ [ lullaby continues ] [ baby coos ] [ man announcing ] millions are still exposed to the dangers... of secondhand smoke... and some of them can't do anything about it. ♪ [ continues ] [ gasping ] the >>pam: this is a live picture of a whale rescue. finally, they have made their way to this will in distress. remarkable live pictures. it is caught and some fishing line. this is happening in san diego county. the crews are on the scene. you can even see a portion of their boat. as they get closer. this will is not a fighting. perhaps it is understanding that they are offering help. they are considered quite sensitive. we will keep an eye on this. >> catherine: president obama wants to crack down on oil price manipulation. this was in a news conference today. this will give regulators more power and could result in lower gas prices for americans. look at this price of gasol

you're j.c. penneynd selling other people's brands you're in a different position because that person who controls the brand may choose to distribute in many different ways in clueding over the internet. >> or federated or macy's. >> guys are buying brands. if you don't have a brand and dependent on somebody else's brand you're -- >> i see the same thing in media too. content of a brand and distribution. >> interesting. i was thinking as you were talking. i'm not aware of richard making any international investments of scale in his career. i'm wondering given our $15 trillion deficit, do you think richard would be looking offshore today? would he be saying i want to get out of the dollar and put 90% of his net worth in another currency? >> you're definitely right that richard was not international. you think of when richard and sid and scully and all the guys, stock pickers got started, these guys are all class of 1969, graduated from stamford business school. in 1969 nobody was aggressively investing a

j.c. penney comes to mind. we'll see if best buy is next in line.ur insight. >> thank you. >> hop over to rick santelli at the santelli exchange. morning, rick. >> good morning. i'll tell you what, carl, everyone i dealt with in edmonton and oklahoma city, great people, entrepreneurs, lobbyists, hobbyists, enthusiasts. the trick is to make every car run on as many different fuels as possible, like that truck, you hit a button, you go gas, add in some more fuels, give the power of pricing and competition back to the consumer versus the energy companies. let's talk about who the natural buyers are. peter bookvar, he said nobody is buying that expansion in italian debt anymore, and he's right. there are no more national margemarge natur -- marginal buyers. they're buying a new wrath in europe. they're avoiding the banking site going into the capital markets just like u.s. companies have discovered. it's a wonderful thing. i think investors have better metrics to judge the longevity and the stress of how those relationships work, and i think it's very a