Why Tupperware Stock Blasted 16% Higher Today
Tupperware Brands (NYSE: TUP) is selling its wares, and shareholders were very happy about that fact on Tuesday.
We're not talking the company's classic lineup of food storage containers. That morning, it announced that it is divesting one of its product lines, and investors expressed their approval by bumping the stock's price more than 16% higher on the day.
Tupperware is emptying the Nutrimetrics beauty business from its bowl. The company has reached agreement to sell it to privately held New Image Group. It disclosed neither the price nor the key terms of the deal. It also did not speculate on when the sale might close.
Source Fool.com
