Dec 5 Hedge fund Hayman Capital Management LP
sold all its shares in J.C. Penney but still holds the
ailing retailer's debt, fund manager Kyle Bass told Bloomberg TV
Penney's shares fell as much as 10 percent to $8.65, their
biggest drop since Sept. 27, on the New York Stock Exchange.
Dallas-based Hayman Capital, known for earning millions by
betting against the overheated subprime market before the
financial crisis, declined to comment to Reuters.
Hayman disclosed a 5.2 percent stake in Penney in September,
but reported in November that it had reduced that to about 1.87
J.C. Penney said on Tuesday comparable-store sales rose for
the second straight month in November as its aggressive
discounts and the return of some in-house brands brought back
shoppers to its stores.
(Reporting by Aditi Shrivastava and Sam Forgione; Editing by