GENERAL PARTNERS CUTS STAKE IN GENCORP <GY> General Partners told the Securities and Exchange Commission it has reduced its stake in GenCorp Inc to 8.6 pct, from 9.8 pct, by selling 250,000 shares at a price equal to 118.5 dlrs per share. General Partners, which includes GC Holdings Inc and General Acquisitions Inc, said yesterday it was dropping its 100-dlr-a-share hostile takeover bid for GenCorp because of GenCorp's move to buy back its shares for up to 130 dlrs each.