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Bill Ackman Resigns From J.C. Penney Board, Company Announces New Directors, Shares Rise (JCP)
Tuesday, August 13, 2013 - 7:04am | 664The drama at embattled retailer J.C. Penney (NYSE: JCP) came to a swift conclusion Tuesday morning as activist investor Bill Ackman of Pershing Square Capital Management resigned from the company's board. Ackman owns about 17.7 percent of the shares in J.C. Penney. In a statement issued by...
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Herbalife isn't Dan Loeb's Only Stock; ETFs for Third Point
Thursday, January 10, 2013 - 2:40pm | 714Third Point Capital founder Dan Loeb has been getting plenty of press these days. After taking an 8.2 percent stake in controversial and embattled Herbalife (NYSE: HLF), three percent of Third Point's $10.1 billion in investor cash is now devoted to a long bet on a company that some investors think...
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Ackman's Pershing Square Sells Kraft, Family Dollar Stakes
Tuesday, August 14, 2012 - 4:58pm | 257Bill Ackman's Pershing Square Capital sold stakes in Dow component Kraft (NASDAQ: KFT), the largest U.S. food company, during the second quarter, according to a 13F filing with the Securities and Exchange Commission. The hedge fund also eliminated stakes in discount retailer Family Dollar (NYSE:...
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Follow Ackman Into P&G? Maybe, Maybe Not
Friday, July 13, 2012 - 12:41pm | 868On Thursday, shares of Procter & Gamble (NYSE: PG), the world's largest consumer products company, jumped almost four percent on volume that was nearly triple the daily average on news that Bill Ackman's Pershing Square Capital has built a position in the company. Only time will tell what...
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Bill Ackman Has Patience For JC Penney's Ron Johnson
Tuesday, May 29, 2012 - 7:40am | 305Bill Ackman, Pershing Square Capital's Founder and CEO, believes JC Penney (NYSE: JCP) has hit a bottom in terms of a slump in sales, and that the new strategy launched by new CEO Ron Johnson will pay off. Ackman is a JC Penney board member and told CNBC's Squawk Box that he is unfazed on what...
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Naughty Or Nice? Some Stocks to Put on Santa's Shopping List
Tuesday, September 20, 2011 - 12:59pm | 1069Santa Claus is coming to town soon, and some of these names may help your portfolio be naughty or nice. Brian Sozzi of Wall Street Strategies had a research report earlier with a list of retail names, and how they have reacted since the August 9th intraday low. He also has some thoughts on how...
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Why Is Big Money Going After Spare Change?
Friday, September 16, 2011 - 12:30pm | 867There is big money in ninety-nine cents, and even a dollar. There was a report out this morning from the New York Post that private-equity firm Apollo Management would bid $22 to $24 for 99 Cents Only Stores (NYSE: NDN). As such, shares of the discount retailer are soaring on the news, as are...
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Did Bill Ackman Have Bad Timing?
Thursday, September 15, 2011 - 4:00pm | 590Bill Ackman presented at the Delivering Alpha conference on Thursday, September 14, regarding his latest bet in the market. He revealed that his firm, Pershing Square Capital Management, bought call option on the Hong Kong dollar, betting that it would appreciate against the US dollar. His...
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Bill Ackman: Why We Think J.C. Penney Is A Great Bet
Thursday, September 15, 2011 - 8:11am | 825Pershing Square Capital's Bill Ackman is on CNBC's Squawk Box this morning and after discussing his trade on the Hong Kong dollar yesterday at the Delivering Alpha conference, he is talking about retail. Ackman said that retail is generally a tough business, a very risky business, which is why he...
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Bill Ackman At Delivering Alpha: Go Long Hong Kong Dollar
Wednesday, September 14, 2011 - 2:19pm | 452Bill Ackman of Pershing Square Capital is at the Delivering Alpha conference sponsored by CNBC and Institutional Investor and he is saying he is long the Hong Kong dollar, saying it is severely undervalued. Ackman believes that that the Hong dollar will appreciate perhaps some 30%, as Hong Kong...
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How Far Can A Dollar (General) Go These Days?
Tuesday, August 30, 2011 - 10:22am | 948Warren Buffett certainly knows a good thing when he sees it. When Buffett, 81, announced earlier in the month he had a position in Dollar General (NYSE: DG), many thought it was a shrew move. After today's earnings beat, it looks like an even shrewder move. The Goodlettsville, Tennessee-based...
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The General's Growth Stops Short
Tuesday, August 2, 2011 - 1:59pm | 695General Growth Properties Inc. (NYSE: GGP), the country's second largest shopping-mall owner is plunging today after it reported lower than expected earnings, as well as plans for a spin off of 30 properties. The Chicago-based real estate investment trust reported core funds from operations (FFO)...
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Is A Dollar Worth Adding To Your Portfolio?
Tuesday, June 28, 2011 - 8:55am | 327Family Dollar Stores (NYSE: FDO) is set to report earnings tomorrow before the bell and Wall Street will be looking forward to hearing how rising commodity costs are affecting the company's key consumer. The North Carolina-based company is going to report its third-quarter fiscal 2011 results...
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Ackman Considering Taking Pershing Square Public
Thursday, June 16, 2011 - 1:14pm | 137Bill Ackman may allow you to get a shot at investing in Pershing Square, even if you do not have the requisite capital to invest in a hedge fund. Ackman, according to the Wall Street Journal, is considering raising funds for a new fund by selling a portion of it through an IPO. Ackman is a value...
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Dollar Stores For A Cheap Market
Friday, June 10, 2011 - 1:27pm | 340The broader markets are getting hammered, but one sector, the dollar stores, are holding up. Names like Family Dollar (NYSE: FDO), Dollar General (NYSE: DG), and Dollar Tree (NASDAQ: DLTR) are all hovering near the flatline, or slightly negative. This comes as the broader markets are all down...