Kate Spade Sale Reports Send Stock Soaring

Kate Spade surged Wednesday amid reports the company is weighing a sale, according to Dow Jones.
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Kate Spade (KATE) shares are surging amid reports the company is weighing a sale, according to Dow Jones. The rapid 19% jump in share prices halted trading on Wednesday. The report said the fashion company is already working with bankers. Shares of Kate Spade are down 18% since the start of the year.