J. C. Penney Company, Inc. (NYSE:JCP) jumped after Bill Ackman’s Pershing Square Capital filed schedule 13D with the Securities & Exchange Commission stating that the firm has taken a position of 16.8% of the shares outstanding.

J. C. Penney Company, Inc., through its subsidiary, J. C. Penney Corporation, Inc., operates a network of department stores in the United States and Puerto Rico.