Shares of J.C. Penney surged as much as 16% after activist investor Bill Ackman’s Pershing Square Capital Management disclosed that it had purchased a 16.5% stake in the struggling retailer.
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J.C. Penney Shares Surge After Pershing Square Buys 16.5% Stake originally appeared on DailyFinance on Fri, 08 Oct 2010 15:27:00.
Filed Under: Company News, JC Penney, Retail, Stocks in the News