American Greetings Corp. (AM) reported second quarter EPS of $0.59 Thursday morning, which included a pre-tax benefit from an insurance program of about $0.19 per share. The consensus estimate was for EPS of $0.06.
American Greetings gapped up and climbed sharply early Thursday morning. Shares rose further around the middle of the afternoon and closed higher by $4.39 at $19.37 on the highest volume of the year. The stock broke out of a 2-month range and set a new high for the year.
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