Sears Up 13% On Financing Talks

By Douglas A. McIntyre Published Jan 21, 9:20AM EST

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Shares of Sears Holdings (NASDAQ: SHLD) rose 13% on Friday to $49. There may have been several causes. The first is that all or part of troubled retailer will be sold. The next is a rumor that controlling shareholder, hedge fund manager Eddie Lampert, will take the company private. The third is that it will make arrangements for loans to its suppliers. Some of these loans were curtained when financial firm CIT refused to make them on current terms.

The WSJ reports that

The retailer on Friday was said to have talked with a number of its larger factors about a new financial approach after talking first with CIT Group Inc., a factor that pulled its funding last week amid uncertainties about Sears’s financial condition. CIT was said to have reinstated its financing agreement.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.