Sears Holding Corporation SHLD shares are trading higher by $0.40 at $10.76 in Thursday's session. There are multiple catalysts instigating the rally.
First of all, the company announced the sale of its Craftsman brand to Stanley Black and Decker for $525 million upfront and $250 million in three years. This has assuaged some cash concerns that have been surrounding the company for quite some time.
Also, Sears will close an additional 150 non-profitable stores and will look to unlock value in its real estate portfolio as well as increase overall liquidity.
The double dose of news has helped extend its four-day winning streak another day. Over that time period, it has rallied from its December 28 close ($8.18) to $11.19 earlier in today's session.
The issue has not closed over $11.00 since December 13, when it ended that session at $11.40.
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