By  on August 1, 2013

Shares of J.C. Penney Co. Inc. dipped 0.02 percent to close at $14.58 Thursday even after the retailer denied there was any problem with the factoring arm of CIT.

The stock had rebounded in early-morning trading on the New York Stock Exchange following the denial, climbing 3.2 percent to $15.07 and hitting an intraday high of $15.53. More than 27.5 million shares changed hands, compared with a three-month average volume of 9.3 million.

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