Why Sears Holdings Corp. Stock Moved Higher Thursday

Shares of retailer Sears Holdings Corp. (NASDAQ: SHLD) jumped higher at market open on Thursday. At one point during the trading day, they climbed as high as 12.4%. But the gain has pulled back significantly, with the stock up just 1.2% at the time of this writing.

The jolt in the company's stock price follows Sears' second-quarter earnings release. A narrower-than-expected adjusted loss, higher-than-expected revenue, and an increase in the company's cash balance thanks to the sale of real estate are likely reasons for the stock's rise.

Image source: Getty Images.

Source: Fool.com