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Data: Investing.com; Chart: Axios Visuals

Shares of embattled retailer JCPenney fell 17% on Friday after a Reuters report that the company had hired advisers to help restructure its debt in the latest effort to stave off bankruptcy. 

Background: The stock fell 18 cents to close at 90 cents a share. It has traded near $1 since 2018.

What they're saying: JCPenney said in a statement that it "routinely" hires external advisers and that it has not hired advisers to prepare for a court restructuring or bankruptcy.

What they're not saying: The company has roughly "$4 billion in debt coming due in the next few years, with more than $1.5 billion currently available under a revolving credit line, according to SEC filings," CNBC reported.

Go deeper: The death of department stores

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Trump administration cuts refugee cap to new record low

Photo: Mandel Ngan/AFP via Getty Images

The Trump administration plans to only admit a maximum of 15,000 refugees this fiscal year, the State Department said in a release late Wednesday evening.

Why it matters: This is yet another record low refugee cap. Before leaving office, President Obama set the refugee limit at 110,000 for fiscal year 2017 — a number Trump has continued to slash throughout his presidency.

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 34,018,143 — Total deaths: 1,014,995 — Total recoveries: 23,674,533Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 7,234,327 — Total deaths: 206,963 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Health: New poll shows alarming coronavirus vaccine skepticism — New research centers will study "long-haul" COVID — Coronavirus infections rise in 25 states.
  4. Business: Remdesivir is good business for Gilead.
  5. Retail: The holiday shopping season will now begin in October.
  6. 🎧Podcast: The looming second wave of airline layoffs.
Kendall Baker, author of Sports
51 mins ago - Sports

Barstool jumps into sports betting

Illustration: Eniola Odetunde/Axios

Barstool Sports was founded in 2003 as a free gambling newspaper. It later became a sports blog before growing into a media empire, and now things have come full circle with the recent launch of its own branded sportsbook.

Driving the news: The Barstool Sportsbook app saw a record 21,000 downloads per day during its first weekend (Sept. 18–20), breaking DraftKings' and Fanduel's daily records despite Pennsylvania being the only state where it was operational.