JCPenney Shares Surge as Soros Reveals Big Stake

Billionaire informs SEC he owns 8%

By Newser Editors and Wire Services

Posted Apr 25, 2013 3:52 PM CDT

(Newser) – Finally, a spark of hope for floundering JCPenney. Shares of the retailer were up more than 6% in aftermarket trading today after billionaire financier George Soros disclosed a 7.9% stake in the company. Soros disclosed he owns about 17.4 million shares in a filing with the Securities and Exchange Commission. The SEC requires shareholders to disclose stakes of 5% or more in a company. Shares were up 98 cents, or 6.4%, to $16.22 in aftermarket trading, after ending 5 cents higher at $15.24.

George Soros speaks in Berlin last year.   (AP Photo/Thomas Peter, Pool)
A JCPenney store in Cupertino, Calif.   (AP Photo/Paul Sakuma, File)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
7%
40%
3%
24%
15%
11%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!