Sears: S&P Intraday Gainer
NEW YORK (TheStreet) - Sears Holdings (SHLD) was the best-performing stock in the S&P 500 on Thursday morning.
The S&P 500 was falling nearly 4 points to 1,320.
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Shares of Sears rose 10.2% to $56.06. The retailer reported first-quarter earnings of $189 million, or $1.78 a share, a reversal from a year-earlier loss of $170 million, or $1.58 a share.
The latest results included $233 million in after-tax gains related to the sale of some U.S. and Canadian stores.
Excluding items, the company's adjusted loss from continuing operations was 31 cents a share in the first quarter, narrower than Wall Street's consensus estimate for a loss of 67 cents a share. Sears also said it intends to look into the partial spin-off of its Sears Canada interest to shareholders. Six of the seven analysts who cover Sears rate it at sell; one analyst gives the stock a hold rating. The stock has risen 76.59% year to date. --Written by Alexandra Zendrian in New York.>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
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