A report in the WSJ today said the stake is among Mr. Icahn’s top five holdings, which could mean it runs into the hundreds of millions of dollar.
Icahn will disclose the stake in mid-Feb according to the story. Now, Carl is scheduled to appear on CNBC’s “Fast Money” show today at 5pm. If he is not going to disclosed the stake until the next couple weeks, it is unlikely we will get any details tonight on the show.
JC Pennys’ stock, like rival retailers such as Sears Holdings (SHLD), Macy’s (M) and Kohl’s (KSS) is down over 40% in the last year and trades at just under 10 times earnings.
Disclosure (“none” means no position):None, Long SHLD
