The S&P 500 rose 5.8 points, or 0.43%, to close at 1,363.46.
Shares of Sears jumped 18.66% to $61.80. The retailer said Thursday it would try to raise about $1 billion by selling off or spinning out stores. Sears plans on selling 11 stores to General Growth Partners (GGP) to the tune of about $270 million.
Sears also reported a fourth-quarter loss of $2.4 billion.Five of the six analysts who cover Sears rate it at sell; one analyst gives it a hold rating. TheStreet Ratings gives Sears a D grade and sell rating. The stock has risen 94.46% year to date.
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