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Tickers in this Article: M, JWN, JCP, BRCD, CAKE, GE, JDSU, SKS
Because of the market meltdown, a myriad of publicly traded companies are trading under $10 a share. For existing shareholders of many companies that have experienced a price decline, the ride has been a sickening one. However, this could be an opportunity for investors on the sidelines.

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With that in mind, below are public companies now trading under $10 that, according to Thomson Financial Networks, are still expected to post a profit this year. These companies may be worth a closer look.

Company Price Market Cap. Expected Earnings - Current Year
Brocade Communications (Nasdaq:BRCD) $2.75 $1.1 B 45 cents
Cheesecake Factory(Nasdaq:CAKE) $9.87 $589 M 63 cents
General Electric (NYSE:GE) $9.62 $102 B $1.14
JDS Uniphase Corp.(Nasdaq:JDSU) $2.91 $625 M 21 cents
Macy\'s (NYSE:M) $8.33 $3.5 B 54 cents

Don't Count Macy's Out
Macy's is depending on consumers opening their pockets, and clearly individuals aren't spending with any great vigor. Any doubters need only look at recent quarterly results from some of the bigger-name, longstanding companies like J.C. Penney (NYSE:JCP), Nordstrom (NYSE:JWN) and Saks (NYSE:SKS).

The stock prices of those major retailers have been thumped as well. J.C. Penney's shares are off about 60% over the last 52 weeks. Nordstrom's stock is down about 55%, and Saks' is off more than 85%.

Macy's, of course, is not immune. Its stock is down about 65%. But counting Macy's out entirely might not make sense. (Find out what to look for in these types of companies; check out Analyzing Retail Stocks.)

Macy's Still Has A Few Things Going For It
The company has a tremendous name and has been around the block more than a couple times since its beginning in the late 1920s. It has certainly been forced to deal with tough times before. In addition, the company has an enviable footprint with, according to a recent release, more than 840 department stores in 45 states.

On the downside, Macy's board voted to cut the dividend from 13.25 cents to 5 cents a share. However, the bottom line is that for now, it apparently plans to offer a dividend, which is a decent sign. With a 5-cent dividend, the forward yield would be just north of 2%. At the end of the day, 2% in this environment isn't anything to sneeze at.

Healthy EPS Expectations
In spite of the marked slowdown in consumer spending, Macy's is expected to have earnings per share of 54 cents in the current year ending January 2010, and 89 cents a share next year - a healthy rate of expected growth. (Learn more in Investment Valuation Ratios: Per Share Data.)

On the flip side, the company isn't super cheap. At present it trades at about 15 times the current year estimate and at about nine times next year's estimate. There is also a very real risk that consumers, because of the economy, could be drawn to discount-type locations for apparel and other items.

Bottom Line
Tons of stocks trade south of $10 a share these days. That said, I think that some of these companies may be worth a closer look, particularly those that are expected to still post decent profits in the current year.

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