Lexmark's Stock Surges After Confirming Plans To Explore Alternatives

Lexmark International Inc.'s stock surged 4.2% in premarket trade Friday, after the printer and business software company confirmed that it was exploring strategic alternatives to boost shareholder value. The Wall Street Journal had reported late Thursday that the alternatives included a possible sale of the company, with other technology companies and private-equity firms the possible buyers. The company said in a statement that it formed a committee of independent directors and hired Goldman Sachs as financial adviser. The company said there was no assurance that the exploration will result in any transaction. The stock has dropped 20% year to date through Thursday, while the S&P 500 has slipped 0.3%.