IPSCO Inc. (NYSE:IPS) today revised its Q4 EPS outlook to $3.00 to $3.10, excluding any impact of the NS Group acquisition, foreign exchange gains or losses or effects of share price volatility, and assuming an effective tax rate of 36%. The company had originally estimated that earnings per share, on the same basis, would be in the range of $3.30 to $3.50 per diluted share. The Wall Street consensus stands at $3.50.

J.C. Penney Company, Inc. (NYSE:JCP) announced the termination of Catherine West as executive vice president and chief operating officer, effective immediately. West was just named COO of J.C. Penney in June, coming from Capital One (NYSE:COF), where she served most recently as president of one of its largest divisions, the U.S. Card business. West was also named one of Fortune's 50 Most Powerful Women.

Apple Computers (NDAQ:AAPL) is under pressure after CEO, Steve Jobs, was given 7.5 million stock options in 2001 without the required board authorization. The report said records showing a full board meeting had taken place to approve the award was later falsified. The SEC said it will evaluate this and other evidence as it decides whether or not to pursue a case. Shares of AAPL traded lower in today's session.