Black & Decker Climbs on Strong Quarter

Shares of Black & Decker (BDK Quote) were surging Monday after the company said its second-quarter profit grew by nearly two-thirds and announced an acquisition to bolster its professional power tool offerings.

The Towson, Md.-based company said net income rose to $121.8 million, or $1.50 a share, from $74.7 million, or 97 cents a share, a year earlier. Sales rose 19% to $1.3 billion.

Analysts had forecast earnings of $1.26 on revenue of $1.24 billion, according to Thomson First Call estimates.

The company attributed its strong quarter to sales in the power tools and accessories segment, with double-digit growth in Asia and in U.S. sales of the company's Dewalt brand. ...