Martha Stewart Living Omnimedia (MSO) spiked sharply to the upside around 2:45PM Thursday on reports that Sequential Brands Group (SQBG) is close to a deal to acquire the company.
Martha Stewart Living Omnimedia ended the session with a gain of 1.34 at $6.44 on the highest volume of the year. The stock surged to over a 2-month high.
Sequential Brands also climbed on the news and finished higher by 1.81 at $16.08 on above average volume. The stock broke out of a 2 1/2 week trading range and set a new high for the year.
For comments and feedback contact: editorial@rttnews.com
Business News