Liz Claiborne Trading Higher After Name Change Announcement

Liz Claiborne LIZ is trading over six percent higher on the session after the company announced it is changing its name to Fifth & Pacific Companies. The company expects to begin trading under the ticker FNP in mid-May. This announcement follows the decision to sell its name brand to J.C. Penney JCP. Company's CEO William McComb stated "While it's difficult to replace an iconic name like Liz Claiborne, we believe that Fifth & Pacific Companies telegraphs who we are today – taking inspiration from New York and California, while describing our reach and our potential. From New York to Los Angeles to Shanghai and beyond, our intrinsically American brands have global appeal, serving customers worldwide with high quality and imaginative product," Liz Claiborne is currently trading at $9.13, up $0.52 or 6.04%