SierraCities.com Jumps 38.3% on Purchase
SierraCities.com
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was up 38.3% in midafternoon trading after announcing that it will be purchased by financial services giant
American Express
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TheStreet Recommends
(AXP)
. American Express said its
Travel Related Services
unit would pay $107.5 million, or 5.68 per share, for SierraCities, an equipment financing company. American Express said the deal would help expand its small business lending. American Express was down 0.4%.
