LPL Financial Shares Jump On Report Company Is Exploring a Possible Sale

Shares of LPL Financial Holdings Inc. [S: LPLA] surged in afternoon trading on Tuesday, with the stock jumping 8.6% to $33.47, the highest price for the stock since January. The move represented the biggest one-day pop for the shares since February. The move followed a unconfirmed report from Reuters that the Boston-based financial services company was working with Goldman Sachs [S: GS] to explore a possible sale. The stock was briefly halted in afternoon trading, but trading accelerated after it reopened. More than 2.2 million shares traded, several times the stock's 30-day average of roughly 511,000.