Fastenal Company (FAST), J.C. Penney Company, Inc. (JCP), First Solar, Inc. (FSLR): Thursday’s Three Best Stocks

Also finding its way to a solid day with a 5.3% gain is struggling U.S. retailer J.C. Penney Company, Inc. (NYSE:JCP), which made headlines today by announcing that it would be dropping the Martha Stewart line in its stores. If you recall, J.C. Penney Company, Inc. (NYSE:JCP) and Macy’s were locking horns over who had the rights to sell Martha Stewart’s products in its stores. According to Macy’s, it signed an exclusive 10-year deal with Martha Stewart Living Omnimedia years ago, which should have precluded J.C. Penney Company, Inc. (NYSE:JCP)’s from striking a deal with Martha Stewart in the first place. Apparently, with J.C. Penney Company, Inc. (NYSE:JCP)’s being cash-strapped, simply dropping the brand seemed like the smart thing to do rather than waste money on legal fees.

Finally, solar panel maker First Solar, Inc. (NASDAQ:FSLR) added 5.2% despite a lack of company-specific news. First Solar, Inc. (NASDAQ:FSLR) has rebounded in a big way off its lows, thanks to large orders in the U.S., and a focus from the Obama administration on making the U.S. more energy independent. In addition, First Solar, Inc. (NASDAQ:FSLR)’s Chinese counterparts are carrying hefty net debt positions that aren’t being helped by chronic low margins and oversupply. With anti-dumping tariffs now in place on often-cheaper Chinese goods in some overseas markets, First Solar, Inc. (NASDAQ:FSLR)’s panel efficiency and size are starting to play to its advantage.

The article Today’s 3 Best Stocks originally appeared on Fool.com and is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool recommends Automatic Data Processing.

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