Masco Shares Soar on Earnings Beat, but Revenue Hit by Strong Dollar

Masco (MAS) was the best performing stock in the S&P 500 on Tuesday and wrapped up the session with a 10.7 percent gain, making it TheStreet's Move of the Day.
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Masco (MAS) was the best performing stock in the S&P 500 on Tuesday and wrapped up the session with a 10.7 percent gain. The stock was TheStreet's Move of the Day. Shares climbed on the heels of better than expected second quarter earnings. Net income came in at $0.38 a share, ahead of the $0.36 analysts expected. The company's sales totaled $1.9 billion, a 3 percent year-over-year rise, but missed estimates of $2.2 billion. Stripping out foreign exchange headwinds, revenue would have risen 7 percent. In a segment on CNBC Tuesday, TheStreet's Jim Cramer said, 'I like Masco, because Masco is part of the investment thesis that Home Depot (HD) propounded on its last call.' The Taylor, Mich.-based company saw sales in North America advance 7 percent. International sales slumped 10 percent in U.S. dollars, but gained 5 percent when measured in local currency. Shares reached an all-time high for the year on Tuesday. TheStreet's Scott Gamm reports from New York.