Associated Press
via CNBC
25 Apr 2013
Shares of beleaguered retailer JC Penney rose more than 7 percent in aftermarket trading on Thursday after billionaire financier George Soros disclosed a 7.9 percent stake in the company.
Soros disclosed he owns about 17.4 million shares of the Plano, Texas, department store operator in a filing with the Securities and Exchange Commission. The SEC requires shareholders to disclose stakes of 5 percent or more in a company.
JC Penney had no comment.
JCP shares jumped 7 percent after-hours following the news…
The article continues at CNBC.
Also, George Soros Pens Lengthy Rebuttal in Comments Section After He’s Challenged in a Blog Post
…the billionaire Democrat bankroller was so annoyed with the German economist’s rebuttal that he took to the article’s comments section to write his own rebuttal.
“Hans-Werner Sinn has deliberately distorted and obfuscated my argument,” Soros writes in his 800-plus word response, adding later that eurobonds could “work wonders” in restoring the eurozone’s economic health…
