News Headline Summary

WSJ writes "ST-Ericsson (ERIC) Hired J.P. Morgan to Explore Options and Possible Sale"

JP Morgan Chase & Co. has been hired to explore options including a sale of ST-Ericsson, a money-losing joint venture between Swedish telecommunications giant Telefon AB L.M. Ericsson and STMicroelectronics NV, people familiar with the matter said.

Link: http://blogs.wsj.com/deals/2013/01/18/st-ericsson-hired-j-p-morgan-to-explore-options-possible-sale/

Reaction details:

- In the 3 minutes following the news ERIC shares spiked higher by 3.01%, going from USD 10.29 to USD 10.62.

Print 19:17, 18 Jan 2013 - US Equities - Source: WSJ