Fresh Market Stocks Swings To Sharp Gain; Company Declines To Comment

The Fresh Market Inc.'s stock rocketed as much as 14% before paring some gains in afternoon trade Friday, erasing an earlier loss of as much as 2.6%, in the wake of a report that the specialty grocer's founder was mulling a buyout bid. Founder and Chairman Ray Berry was the company's seventh-largest shareholder with a 1.97 million-share stake, according to FactSet's analysis of the latest regulatory filings. Reuters reported earlier, citing people familiar with the matter, that Berry was teaming up with a private-equity firm to take the company private. "We don't comment on market rumors, as is the company's policy," according to a statement on behalf of The Fresh Market. As of Thursday's close, the stock had run up 25% since closing at a record low of $19.46 on Aug. 25, but was still down 41% so far this year.