CB Richard Ellis shares spike 14% on New York trading

05/1/2009 | Bloomberg

The shares of CB Richard Ellis attracted so much enthusiasm from investors Thursday that the commercial real estate broker made it onto Bloomberg's daily list of companies that had "unusual moves" in U.S. trading. Reaching the highest share price since Nov. 3, CB Richard Ellis shares hit $7.50, a 14% increase. Traders were pleased to hear that the nation's biggest commercial broker was planning to reduce expenses by as much as $500 million this year.

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