Business in brief

Shares of J.C. Penney rise after Soros discloses stake

Updated: 2013-04-26T03:09:06Z

Soros’ stake in Penney

Shares of beleaguered retailer J.C. Penney rose more than 6 percent in after-market trading on Thursday after billionaire financier George Soros disclosed a 7.9 percent stake in the company.

Soros owns 17.4 million shares of the department store operator, he said in a filing with the Securities and Exchange Commission. That makes him the fourth-largest Penney shareholder.

Board expands

The Ewing Marion Kauffman Foundation said Thursday that Barbara Mowry and John Sherman have become trustees. Their appointments increase the number of governing board members of the foundation to 10.

Mowry is founder and chief executive officer of GoreCreek Advisors in Greenwood Village, Colo., and chairman of the board of the Federal Reserve Bank of Kansas City. She has been the CEO of four firms and a senior officer in several Fortune 500 companies, including Oracle, Comcast and United Airlines.

Sherman is chairman and chief executive officer of Kansas City-based Inergy LP and Inergy Midstream LP. He has received Entrepreneur of the Year honors from Ernst & Young, UMKC’s Bloch School of Business, and the Council for Entrepreneurship and Innovation.

Medicaid push

Missouri Jobs with Justice and the Missouri AFL-CIO are organizing to canvass area neighborhoods in Missouri to encourage legislators to not support so-called right-to-work legislation, but instead to focus on expanding Medicaid benefits to 138 percent of the federal poverty level. For the canvassing, from 11 a.m. to 3 p.m. Saturday, organizers will meet at the Hy-Vee parking lot at 310 S.W. Ward Road in Lee’s Summit.

Quarterly earnings

• Harley-Davidson earned $224.1 million, up 30 percent, on revenue of $1.57 billion, up almost 10 percent.

• McClatchy Co., owner of The Kansas City Star, lost $12.7 million, $8.1 million of that related to debt repurchasing and refinancing. Revenue declined 4 percent to $276.7 million.

• Southwest Airlines earned $59 million, down 40 percent, on revenue of $4.08 billion, up 2 percent.

| Staff and news services

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