J.C Penney rallies off of CEO search, Questrom in the mix?

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

It's somewhat unclear why news J.C. Penney (JCP +6.6%) plans to step up its search for a new CEO warrants a 6.5% jump in share price, but there it is nonetheless.

A letter from Pershing Square's Bill Ackman reportedly hints former-CEO Allen Questrom is up for the job - a choice that a number of retail analysts think makes sense.