Maguire Spikes As Shareholder Seeks To Raise Stake

NEW YORK (AP) — Shares of Southern California office park developer Maguire Properties shot up Monday, following a report that an investor filed a request to buy up to a quarter of its preferred shares.

The Los Angeles-based real estate investment trust jumped 35 cents, or 39 percent, to close at $1.25, after earlier spiking as high as $1.73, a 92 percent jump from its Friday close of 90 cents. Trading volume on the session was nearly 2.9 million shares, more than three times its normal daily activity.

In after-hours trading, the stock gained 22 cents, or 18 percent, to $1.47. ...