American Apparel (APP) pops on new credit pact

American Apparel Inc. (AMEX: APP) shares leaped 6.7% to 99.7 cents. The retailer said it is planning a new credit agreement with Standard General and one or more foreign subsidiaries. Standard General had extended financing to American Apparel. The company also reported slimmer losses last quarter. Share volume was 1.8 million, better than double its all-day average