W.R. Grace & Co. (GRA) announced Thursday morning that its Board of Directors has approved a plan to separate into two independent, publicly traded companies.
The company also reported fourth quarter adjusted EPS of $1.37, up from $1.09 in the previous year. The consensus estimate was for EPS of $1.25.
W.R. Grace & Co. has gapped open sharply higher Thursday and is now up 10.55 at $101.66. The stock has jumped to an 8-month high and has re-crossed both its 50 and 200-day moving averages.
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