Stewart Enterprises Inc.
(STEI) opened at 8.64. So far today, the stock has hit a low of 8.61 and a high of 9.46. STEI is now trading at 9.24, up 0.60 (6.94%). The stock hit its 52 week high of 9.46 today and set its 52 week low of 5.36 in March. STEI dropped at the beginning of this year, but has been stronger since March. Stewart Enterprises announced today its board has approved the formation of a committee to evaluate alternatives to lift shareholder value. The board met to consider a letter from rival Service Corporation International
(SCI), which said its recent $881.7 million, or $9.50 per share, takeover offer was rejected by the company. Technical indicators for the stock are bullish but slightly deteriorating. We will just watch this one for now. There are no options available for STEI. [RHF - Seven Summits Strategic Investments NewsBite]