BJ's Zooming Higher Pre-Market (BJ)

BJ's Wholesale Club, Inc. BJ shares are zooming higher in the pre-market session, gaining almost 14% to $49.00, a gain of $5.99 after the company announced it was exploring strategic alternatives. The company has hired Morgan Stanley MS to discuss potential alternatives. This comes straight from the press release: "BJ's Wholesale Club, Inc. today announced that its Board of Directors, upon the recommendation of a committee of independent directors, has decided to explore and evaluate strategic alternatives, including a possible sale of the Company. The independent committee has engaged Morgan Stanley & Co. Inc. as its financial advisor to assist in this process. "The Company has not made a decision to pursue any specific strategic transaction or other strategic alternative, so there can be no assurance that the exploration of strategic alternatives will result in a sale of the Company or in any other transaction. There is no set timetable for the process. The Company does not intend to provide updates or make any further comment regarding the evaluation of strategic alternatives, unless a specific transaction is recommended by the independent committee and the board, or the process is concluded."