Stock Watch: AOL Sees Bounce After Sears Deal

America Online, Inc. (NYSE: AOL) rose 1 1/8 in morning trading to 62 7/16 after the company and Sears, Roebuck & Co. (NYSE: S) announced a cross-marketing agreement that the companies say will “bring the Internet and related emerging technologies into millions more American homes.”

AOL will sell Sears merchandise and services on its Web sites, and Sears will promote AOL as its preferred online service provider. The companies will develop a co-branded edition of AOL with links to Sears for display in the 858 U.S. Sears stores. Sears customers will also be able to review their credit card statements and pay their Sears bills online through AOL.

The deal will also enable in-store demonstrations of broadband technology, and AOL technicians will offer home installation of broadband service. Other planned services include home-improvement information and “connected-home” technology using Internet-enabled devices and appliances.

Financial terms of the agreement, which was announced after the close of trading Monday, were not disclosed.

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