Martha Stewart Living Omnimedia Inc said on Thursday it settled a lawsuit with retailer Macy's Inc over a home products deal with J.C. Penney Co Inc.Martha Stewart did not disclose the terms of the settlement, but said the deal would not be material to the company.The company's shares rose as much as 8 percent to their year-high of $4.55 on the New York Stock Exchange.Macy's sued Martha Stewart and Penney in 2012 after the two announced a partnership in 2011 to open Martha Stewart home shops at hundreds of Penney stores.
Macy?s, Inc. (Macy?s) is a retail organization operating stores and Internet Websites under two brands (Macy's and Bloomingdale's) that sell a range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico. Shares of M traded higher by 0.02% or $0.01/share to $53.41. In the past year, the shares have traded as low as $36.35 and as high as $54.07. On average, 4751240 shares of M exchange hands on a given day and today's volume is recorded at 2304357.
Martha Stewart Living Omnimedia, Inc. (MSO) is an integrated media and merchandising company providing consumers with lifestyle content and products. Shares of MSO traded higher by 10.24% or $0.43/share to $4.63. In the past year, the shares have traded as low as $2.20 and as high as $4.47. On average, 319205 shares of MSO exchange hands on a given day and today's volume is recorded at 728205.
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