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>> J.C. PENNEY Latest News

JUL 26, 2013 - MarketWatch

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David Einhorn closes J.C. Penney short

NEW YORK (MarketWatch) -- Hedge-fund manager David Einhorn told his investors he closed a bet against ailing retailer J.C. Penney Co. Inc. in the second quarter, according to Reuters. In the quarterly note to investors in his Greenlight Capital fund dated Friday, he described his bet against J.C Penney shares as his "most profitable short of 2012." During the quarter, the fund also closed out a bet that Microsoft Corp. shares would rise, he told investors. "Windows 8 appears to be a flop, and a decade of mismanagement has put Microsoft at risk of becoming a shrinking company," the letter ... Read More

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