Mike Ullman

Immediately following the closing bell Monday, news broke that Pershing Square Capital, the hedge fund operated by billionaire investor Bill Ackman, was liquidating its entire position in J.C. Penney (NYSE: JCP) The hedge fund held 39 million shares representing an 18 percent stake in the $3...

The miserable second-quarter release put out by struggling retailer J.C. Penney (NYSE: JCP) this morning wasn't exactly a surprise, but the sheer size of the miss has bears licking their chops. J.C. Penney reported a loss of $2.16 per share, missing earnings estimates by over 103, while also...

CEO Mike Ullman and CFO Ken Hannah made some big announcements in JC Penney’s (NYSE: JCP) second quarter conference call. Revenue for the quarter came in at 2.66 billion for a 3.62 percent miss with EPS at a $2.16 loss for a 103.77 percent miss. Ullman did point out that $0.99 of this was an...

Following a trend of hedge funds adding JC Penney (NYSE: JCP) to their portfolios, Bloomberg reported that hedge fund manager Kyle Bass entered a long position in the company by buying their debt. This announcement came several hours before the company announced its earnings. Despite top and...

Activist investor Bill Ackman of Pershing Square Capital Management has had one heck of a week. First, he publicly fought a war of words with the board of J.C. Penney (NYSE: JCP) as he pushed to replace CEO Mike Ullman as well as bring in a new Chairman of the Board. He quickly lost that fight...

Shares of embattled retailer J.C. Penney (NYSE: JCP) rallied sharply late Wednesday and into early trade Thursday following a New York Post report (see tweet below) that August same store sales were tracking higher than forecast. They claim that J.C. Penney was benefiting nicely from back to school...

Bill Ackman has left the board of directors of J.C. Penney (NYSE: JCP) in rather theatrical style. In a release issued early Tuesday morning, the board of directors announced the resignation of Ackman and the addition of Ronald Tysoe to the board. More Questions The move has created more questions...

The drama at embattled retailer J.C. Penney (NYSE: JCP) came to a swift conclusion Tuesday morning as activist investor Bill Ackman of Pershing Square Capital Management resigned from the company's board. Ackman owns about 17.7 percent of the shares in J.C. Penney. In a statement issued by...

In a sharp criticism of activist investor Bill Ackman's strategy with J.C. Penney (NYSE: JCP), Gilford Securities' Bernard Sosnick tells Ackman to "get out: for your sake and ours." Gilford has a Buy rating on J.C. Penney. Destructive Force "Bill Ackman, in our opinion, has been a destructive...

Shares of JC Penney (NYSE: JCP) spiked higher at noon when a letter from Bill Ackman was released, expressing his urgency to find a new CEO. It is no new news that Bill Ackman doesn’t like current CEO Mike Ullman, after he stated intent to find a replacement shortly after Ullman took the...

Shares of J.C. Penney (NYSE: JCP) were headed higher to start the trading week on Monday, and investors and traders may want to take notice. Although volume was light, which may be a concern, the stock was trading up around five percent late in the session to just under $19.00. Despite terrible...

After J.C. Penney (NYSE: JCP) missed Q1 EPS estimates by more than 50 percent last week, Mike Ullman described the tough situation he faces as CEO in a conference call with investors. Ullman opened the call by noting his conversation with investors and stating, “our fundamental business processes...

After retiring as CEO from J.C. Penney (NYSE: JCP) in November 2011, Mike Ullman returned to the helm in April to try and save the failing retailer. While activist investor Bill Ackman wants Ullman replaced, the board of directors thinks otherwise. The New York Post stated J.C. Penney's board...

First, last Thursday, George Soros bought a nearly eight percent stake in J.C. Penney Corp. (NYSE: JCP). Then came word Friday afternoon, confirmed by J.C. Penney Monday morning that Goldman Sachs (NYSE: GS) has secured $1.75 billion in financing for the company, according to Reuters. What’s...