Sears Rumors Heating Up (SHLD, CIT)
Shares of Sears Holdings Corp. (NASDAQ: SHLD) are jumping this morning on increased speculation that majority shareholder Eddie Lampert will take the company private. The speculation first surfaced earlier this week when Lampert bought 4.46 million shares of the company’s…
Shares of Sears Holdings Corp. (NASDAQ: SHLD) are jumping this morning on increased speculation that majority shareholder Eddie Lampert will take the company private. The speculation first surfaced earlier this week when Lampert bought 4.46 million shares of the company’s stock from his hedge fund, ESL Investments.
Sears’ suppliers had been unable to get short-term financing from CIT Group Inc. (NYSE: CIT) for sales they made to the retailer after January 11th. A report from AP yesterday claimed that CIT had once again begun financing Sears suppliers.
The combined reports/rumors have sent Sears shares up more than 13% this morning, to $49.11 in a 52-week range of $28.89-$94.79.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
