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Stanley Works Beats Street; Stock Surges
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Toolmaker Stanley Works(SWK Quote)posted a 43% nosedive in first-quarter earnings, but still managed to beat expectations handily, which sent the stock up 11% in morning trading.
Shares reached $37.55 Friday morning, after closing up 2% to $33.62 on Thursday.
For the quarter, the company earned $37.7 million, or 47 cents a share, compared with $66.5 million, or 83 cents, a year earlier. Analysts expected a profit of 39 cents. ...
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