Philips-Van Heusen Corp. (PVH) Scales To A New 52 Week High

Philips-Van Heusen Corp. (NYSE: PVH) climbed 9% on Monday in morning trading as it mentioned it would buy Tommy Hilfiger from private-equity firm Apax Partners in a buyout valued at about $3 billion. The deal will create a massive clothing company and bring together two preppy icons -- Izod, owned by Phillips-Van Heusen (PVH), and Tommy Hilfiger's boarding-school chic.

Philips-Van Heusen Corp. (PVH) started the Monday session with a wide gap-up opening, and continued with its pattern of forming higher top and higher bottom. With this, the stock scaled to a trailing 52 week high, confirming a breakout in Philips-Van Heusen Corp. (PVH).