Stanley Black & Decker ( (SWK) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Stanley Black & Decker shares are climbing after the company delivered a strong second-quarter performance powered by major cost cuts and a 560-basis-point jump in adjusted gross margins. The margin gains point to a solid recovery in its core tools and outdoor businesses, which had been under pressure in recent periods.
Riding this momentum, the company raised its full-year outlook for adjusted earnings per share and free cash flow. It reported adjusted EPS of $1.09 for the quarter, beating the analyst consensus of $0.85 and reinforcing investor confidence in the turnaround story.
More about Stanley Black & Decker
YTD Price Performance: -8.55%
Average Trading Volume: 1,926,993
Technical Sentiment Signal: Strong Sell
Current Market Cap: $10.43B
For further insights into SWK stock on TipRanks’ Stock Analysis page.
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