<p>Macy's, Inc. (NYSE: M) shares jumped 7.27 percent to $55.61 in morning trading on Thursday following news the retailer will cut nearly 2,500 jobs as part of a cost-cutting plan. In addition, the company said holiday season same-store sales rose 4.3 percent and issued a 2014 profit outlook above analysts’ estimates.</p><p>Meanwhile, J.C. Penney Company, Inc. (NYSE: JCP) shares climbed 4.88 percent to $7.73 after Piper Jaffray upgraded the retailer's stock to “overweight” from “neutral” a day after the retailer said it was "pleased with its performance for the holiday period," yet provided no sales data. </p><p>The Dow Jones industrial average fell 63.34 points or 0.38 percent, to 16,399.40. The S&P 500 lost 4.30 points or 0.23 percent, to 1,833.19. The Nasdaq Composite added 15.26 points or 0.37 percent, to 4,150.35.</p>
