Inactive Instrument

Old Copper Company

Equities

JCPNQ

US6795351047

J.C. Penney Company, Inc. : Hayman Capital sells entire stake in J.C. Penney: Bloomberg TV

December 05, 2013 at 02:03 pm EST

MarketScreener.com By The editorial team

J.C. Penney Company, Inc. : Hayman Capital sells entire stake in J.C. Penney

(Reuters) - Hedge fund Hayman Capital Management LP sold all its shares in J.C. Penney but still holds the ailing retailer's debt, fund manager Kyle Bass told Bloomberg TV on Thursday.

Penney's shares fell as much as 10 percent to $8.65, their biggest drop since September 27, on the New York Stock Exchange.

Dallas-based Hayman Capital, known for earning millions by betting against the overheated subprime market before the financial crisis, declined to comment to Reuters.

Hayman disclosed a 5.2 percent stake in Penney in September, but reported in November that it had reduced that to about 1.87 percent. (http://link.reuters.com/qaz25v)

J.C. Penney said on Tuesday comparable-store sales rose for the second straight month in November as its aggressive discounts and the return of some in-house brands brought back shoppers to its stores.

(Reporting by Aditi Shrivastava and Sam Forgione; Editing by Don Sebastian)

Latest news about Old Copper Company

Old COPPER Company, Inc. Announces its Board of Directors Dissolved	21-02-01	CI
Old COPPER Company, Inc. Emerged from Bankruptcy	21-01-29	CI
J. C. Penney Company, Inc. Reinvents Xersion Activewear Brand	21-01-07	CI
J. C. Penney Company, Inc. Announces Board Changes	20-12-31	CI
Simon Property : JCPenney Ownership Group Starts Search for New CEO	20-12-30	DJ
J. C. Penney Company, Inc. has Changed its Name to Old COPPER Company, Inc	20-12-30	CI
Wall St Week Ahead-RPT-Investors bet old-school retailers will rebound in 2021	20-12-20	RE
Nintendo : Analysis-U.S. retailers want shoppers to help Santa with curbside pickup	20-12-18	RE
Amazon com : Holiday retail workers seek "temporary lifeline" in warehouse jobs, if they can find one	20-12-14	RE
Third Modified First Reorganization Plan Approved for J. C. Penney Company, Inc.	20-12-14	CI
J C Penney : retail and operating assets to exit Chapter 11	20-12-07	RE
Simon Property : JCPenney Retail and Operating Assets Exiting Chapter 11	20-12-07	DJ
J C Penney : retail and operating assets to exit Chapter 11	20-12-07	RE
Brookfield Property Partners L.P. and Simon Property Group, Inc. completed the acquisition of all of retail and operating assets of J. C. Penney Company, Inc. (OTCPK:JCPN.Q).	20-12-06	CI
Chevron, General Motors, Zoom, AT&T : Stocks That Defined the Week	20-12-04	DJ
J. C. Penney Company, Inc. Announces Board Changes	20-12-04	CI
Factbox: Retail casualties of the coronavirus pandemic	20-12-01	RE
Factbox: Retail casualties of the coronavirus pandemic	20-11-30	RE
Black Friday Was a Bust for Many Stores, Better for Online -- Update	20-11-29	DJ
Black Friday Was a Bust for Many Stores, Better for Online	20-11-29	DJ
J. C. Penney Company, Inc. Restructuring Plan to Create Propcos Confirms by Court	20-11-25	CI
Retail Chains Shed Stores, but It Isn't Good for Business	20-11-15	DJ
Motion for Asset Sale Approved for J. C. Penney Company, Inc.	20-11-08	CI
First Amended Joint Reorganization Plan Filed by J. C. Penney Company, Inc.	20-11-08	CI
Mall operator CBL files for Chapter 11 bankruptcy protection	20-11-02	RE

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Company Profile

Old COPPER Company, Inc., formerly J. C. Penney Company, Inc. (JCPenney) is a holding company. The Company's business consists of selling merchandise and services to consumers through its department stores and its Website at jcp.com, which utilizes applications for desktop, mobile and tablet devices. Its department stores and Website generally serves the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website. It fulfills online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers' warehouses and by in store customer pick up. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney, home furnishings and appliances.

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