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Stock Market & Financial Investment News

News Breaks
March 14, 2014
18:54 EDTSHLDSears board approves separation of Lands' End business
Sears Holdings Corporation announced that its board approved the separation of its Lands' End business by means of a pro-rata spin-off transaction. To effect the spin-off, Sears Holdings will distribute all of the outstanding shares of common stock of Lands' End on a pro rata basis to holders of Sears Holdings common stock, except that holders of Sears Holdings' restricted stock that is unvested as of the record date will receive cash awards in lieu of shares. These cash awards will be subject to vesting requirements. The distribution will be made to Sears Holdings' stockholders of record on March 24, the record date for the distribution. The distribution is expected to occur on April 4. In the distribution, Sears Holdings stockholders will receive 0.300795 shares of Lands' End common stock for each share of Sears Holdings common stock. Following the spin-off, Sears Holdings will continue to be listed under the symbol "SHLD," while Lands' End expects to list its common stock on the Nasdaq Capital Market under the symbol "LE." Following the spin-off, Lands' End will be a publicly traded company independent from Sears Holdings, and Sears Holdings will not retain any Lands' End common stock.
News For SHLD From The Last 14 Days
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March 2, 2015
10:06 EDTSHLDOptions with decreasing implied volatility
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February 27, 2015
10:32 EDTSHLDOptions with decreasing implied volatility
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February 26, 2015
10:36 EDTSHLDOptions with decreasing implied volatility
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06:44 EDTSHLDSears says targeting REIT formation in May or June
Sears said "We are continuing our efforts to develop Sears Holdings as a membership company, without the significant asset intensity of its traditional retail business. To this end, we announced in November that we have been exploring the formation of a Real Estate Investment Trust to purchase some of our properties and to manage them like a pure real estate company. While we can offer no assurances that such a transaction will be consummated, we have made progress and are proceeding towards its formation and separation, which is projected to occur in May or June of this year. We are currently targeting between 200 and 300 Sears and Kmart stores to be sold to the REIT with expected proceeds to Sears Holdings in excess of $2B. The REIT itself would be funded by equity and debt with the equity raised through a rights offering. The subscription rights would be distributed pro rata to all stockholders of record of the company, and every stockholder would have the right to participate, except that holders of the company's restricted stock that is unvested as of the record date would be expected to receive cash awards in lieu of subscription rights."
06:09 EDTSHLDSears reports Q4 EPS ($1.50), one estimate ($1.89)
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February 25, 2015
15:05 EDTSHLDNotable companies reporting before tomorrow's open
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08:59 EDTSHLDSears Holdings volatility elevated into Q4 and outlook
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February 20, 2015
14:46 EDTSHLDSears Holdings volatility elevated into Q4 and outlook
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