JC Penney Is Ripping Higher

JC Penney is up 21% to $7.21 per share.

After the closing bell on Wednesday, the department store chain delivered its first quarterly net profit since July 2011. Net income came in at $35 million or $0.11 per share.

But it reported a Q4 adjusted loss of $0.68 per share.

"The most challenging parts of the turnaround are behind us," CEO Mike Ullman said in the press release.

Here's a look at the five-day chart that shows the stock ripping higher.