Seeking Alpha

J.C. Penney higher amid Macy's real estate talk

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

J.C. Penney (JCP +1.6%) is pulled up on a string after Starboard discloses it took a position in Macy's.

Starboard's Jeff Smith made some high-flying projections on the value of Macy's real estate assets which may have caught the attention of JCP investors.

Previously: Macy's pops after Starboard discloses stake