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Sears Holdings Corp. (SHLD) Set A 3-Month High

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2/24/2012 8:02 AM ET

Sears Holdings Corp. (SHLD: Quote) reported fourth quarter adjusted EPS of $0.54 Thursday morning, down from $3.67 last year. The consensus estimate was for EPS of $0.78.

The company also announced that it reached a definitive agreement for the sale of eleven Sears full line store locations to General Growth Properties for a purchase price of $270 million. The company also plans to spin-off about 1,250 of its Sears Hometown and Outlet Businesses and certain hardware stores through a proposed rights offering.

Sears Holdings gapped up sharply Thursday and climbed during the first hour of trade. The stock closed higher by 9.72 at $61.80 on strong volume. Sears rose to a 3-month high and re-crossed its 200-day moving average.

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by RTT Staff Writer

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