Martha Stewart Living Omnimedia (NYSE: MSO) climbed nearly 46% this week after J.C. Penney (NYSE: JCP) decided to buy a minority stake in the integrated media and merchandising company. Shares of Martha Stewart Living stock were trading at $4.35 as the financial markets closed today, up from $3.14 at the beginning of the week.
As part of the deal, Martha Stewart merchandise will now be available in J.C. Penney department stores and on a joint website that’s being formed. J.C. Penney stock was up 3% for the week on news of the deal.
But Martha Stewart’s company wasn’t the only stock to make a strong move this week. Other big gainers were:
- G-III Apparel Group (Nasdaq: GIII): The manufacturer of major clothing brands such as Calvin Klein, Cole Haan and Guess reported $43.6 million in third-quarter earnings this week, sending its stock up 38%. G-III’s earnings were up slightly from the $42.7 million the company earned during the same quarter a year ago.
- DemandTec, Inc. (Nasdaq: DMAN): Another stock that shot up after a buyout. IBM (NYSE: IBM) bought the tech company for $440 million this week to take advantage of the web-based software DemandTec offers that helps retailers decide to charge for their products. Shares of DemandTec closed at $13.11 today – 62% higher than the $8.11 share price it opened the week with.
- McClatchy Company (NYSE: MNI): Improving advertising revenues and growing circulation helped this newspaper and Internet publisher climb nearly 51% this week. The biggest gain happened today, as McClatchy stock rose 36.63% to close the week at $2.35 a share. McClatchy started the week dangerously close to a 52-week low, at $1.18 a share.