Bill Ackman

Bill Ackman's Big Bet on the Hong Kong Dollar

Hedge fund manager Bill Ackman made waves in the financial community yesterday by announcing a very bullish bet on the Hong Kong dollar. Currently pegged to its American counterpart, HK's currency would see its value soar if it were attached instead to a more compatible counterpart -- say, the Chinese yuan. Ackman appears to be banking on it, but in a low-risk way.

Dow Rallies on Tech Stocks. Next Stop 12,000?

Stocks closed sharply higher Monday with the Dow Jones posting a triple-digit gain as technology stocks rallied after Intel raised its dividend and expanded its share repurchase program by $10 billion. The index last saw 12,000 in June 2008 -- on the way down.

Struggling J.C. Penney to Shut Stores in Cost-Cutting Move

JC Penney (JCP) said it will close some of its department stores, call centers and outlet stores in a bid to cut costs. JC Penney will shut five department stores in locations including Morrow, Ga and West Dundee, Ill., the company said in a statement. It will close a total of 19 outlet stores, as well as its call center facilities in Grand Rapids, Mich and Albuquerque, NM.

Top Stock Picks of Six Billionaire Investors

By the time the world's smartest investors tell the SEC what stocks they hold, most of the gains they were after are already priced in. But a few of the companies Warren Buffett, George Soros, and their billionaire buddies bought into still have a lot further to rise. Which ones? Read on ...

J.C. Penney Shares Surge on Ackman News

Shares of J.C. Penney have surged as much as 16.8% since activist investor Bill Ackman%u2019s Pershing Square Capital Management disclosed Thursday that it had purchased a 16.5% stake in the struggling retailer.