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Sara Lee Corp. (SLE) Surged To A New High Following Spin-Off Announcement

Sara Lee Corp. (SLE: Quote) announced Friday morning that plans to spin-off of its Coffee & Tea business. The spin-off is expected to be completed by the end of June.

Sara Lee Corp. gapped open higher Friday and climbed until the middle of the morning. Shares rose further around 1:30PM and finished up by 1.44 at $21.83 on the highest volume of the year. The stock broke out of over a 2-week range and set a new high for the year.

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by RTT Staff Writer

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