28 Dec '16, 8pm

Kate Spade, luxury handbag maker, rumored to be for sale

Kate Spade (KATE ) stock jumped nearly 18 percent on Wednesday after The Wall Street Journal reported that the luxury label was exploring a sale. The high-end handbag and apparel maker has contacted other retailers as possible buyers and is working with an investment bank, the Journal reported. Caerus Investors, an activist investor that owns a stake in Kate Spade, urged it to find a buyer last month, writing that “shareholders (ourselves included) are incredibly frustrated” and “have lost confidence in management” after nearly two years of share price declines. Since 2014, the company has missed earnings and profit targets three times, Caerus wrote. Until Wednesday’s surge, Kate Spade stock was down 21 percent for the year, closing at $14.02 on Tuesday. That’s a deep discount to its peers in designer retail, according to Caerus. The price surged to $17.70 on Wednesday aft...

Full article: http://www.cbsnews.com/news/kate-spade-stock-surges-after...

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Kate Spade stock soars 23% on report of luxury handbag brand's possible sale

Kate Spade stock soars 23% on report of luxury ...

usatoday.com 28 Dec '16, 7pm

Shares of luxury handbag maker Kate Spade leaped 23.1% Wednesday after news reports surfaced about a possible sale of the ...

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The keen automobile collector will be glad to hear that one of the four rare Ferrari Nero F50s is up for sale in Arizona. ...

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