Multiday event spanning up to weekends are shown to have continuation when other events overlap their beginning date

Originally reported my @pksadiq on Bugzilla (#778057):

Multiday events whose end dates are weekends are displayed to have continuations.

Eg: On my system, week 5, 2017 spans from Jan 30 - Feb 5. If I create an event from Feb 3 - Feb 5 (not timed events) via week view, they are rendered as in attached screenshot.