Kate Spade exploring sale: WSJ

Shares of Kate Spade, which had a market value of $1.86 billion as of Tuesday's close, were up 16 percent at $16.83 after being halted twice. Hedge fund Caerus Investors said last month that the company would make a great acquisition candidate as its stock was trading at a discount to its peers. Sales of handbags have weakened over the past year in the United States, as people shop lesser at department stores in favor of online shopping.