Sears Rises Nearly 30% After Q1 Beat

Sears Holdings Corp SHLD shares are trading higher by $2.39 at $9.86 in Thursday's session.

The catalyst for the rally is a Q1 beat of 90 cents along with a sales beat of $250 million. That beat was a smaller than expected loss of $(2.15) per share vs. $(3.05) estimates.

After a higher open, Sears had only a brief $0.22 retreat to $8.58 before continuing its move higher. It has continued to make new highs for the session, with current one standing at $9.90 as of 10:29 a.m. EST.

If the stock can breach the psychological $10.00 resistance level, there may be additional resistance at its May 12 high of $10.13.