Dollar Tree Selling Family Dollar for $1 Billion; Stock Jumps

Discount retail stock Dollar Tree Inc (NASDAQ:DLTR) was last seen up 5.2% at $70.63, after the company announced it would be selling its Family Dollar business to Brigade Capital Management, LP and Macellum Capital Management, LLC for $1 billion. The company also reported better-than-expected fourth-quarter earnings and revenue, though net sales missed estimates. On the charts, DLTR has been middling between $60 and $80 since August, hitting a Nov. 12 four-year low of $60.49 during this time. Today's pop is ...