Applebee's exploring possible sale of company

Casual dining chain Applebee's International Inc. said it was exploring its strategic options, including a possible sale of the company. The company's shares soared 8.6%.

The company, based in Overland Park, Kan., said it was withdrawing its fiscal guidance as a result of the review, which could be affected by certain strategic decisions.

The company said there was no guarantee a transaction would occur, and it did not plan to disclose further developments until its review was complete.

Shares of Applebee's rose $2.09 to $26.32.