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Actionable news in PSG: Performance Sports Group Ltd,

Why Performance Sports Group (PSG) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Performance Sports Group (PSG) were surging 29.44% to $2.33 on heavy trading volume late Friday morning as the sports equipment maker nears a deal to receive a 60-day extension to meet its loan covenants, sources told the New York Post.

If the Exeter, NH-based company fails to reach such a deal, it will reportedly default on August 29 and consequently become vulnerable to creditor action.

Certain creditors hope to swap their debt for equity and assume control of...