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J.C. Penney (JCP) Stock Spikes on Moore Capital Stake

NEW YORK (TheStreet) -- Shares of J.C. Penney (JCP) were climbing 6.87% to $11.27 on heavy trading volume late Monday afternoon as Moore Capital Management took a 2 million share stake in the department store company, CNBC reports, citing a regulatory filing.

The stake was taken sometime during the 2016 second quarter.

On Friday, the Plano, TX-based retailer posted a narrower-than-expected loss for the 2016 second quarter.

About 28.87...