Stanley Black & Decker (SWK) reported second quarter normalized earnings per share from continuing operations of $1.43 Friday morning, up from $1.22 last year. Analysts expected EPS of $1.37.
The company raised its 2014 earnings per share outlook to a range of $5.50 to $5.60 on an adjusted basis, from prior expectations of $5.35 to $5.50. The consensus estimate is for EPS of $5.43.
Stanley Black & Decker gapped up sharply Friday and rose steadily until mid-morning. The stock was range-bound for the remainder of the day and closed up by 5.75 at $90.77, with volume at a 3-month high. Stanley Black & Decker broke out to over a 9-month high.
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