Why Emerson Electric Stock Jumped 20% in April
Shares of global industrial giant Emerson Electric (NYSE: EMR) rose 20% in April, according to data from S&P Global Market Intelligence. For most of the month, the stock tracked the broader market, which was up around 13% in April. However, after Emerson reported earnings on April 21, shares sprinted ahead of the S&P 500. This isn't an issue of reporting good earnings, though; it was more like earnings weren't as bad as they could have been.
Emerson reported a 9% decline in revenue for its fiscal second quarter 2020. Earnings were $0.84 per share, roughly flat with the year-ago period. Pull out restructuring charges, however, and the bottom line increased to $0.89 per share -- toward the high end of management's guidance. That's the good news and investors were clearly pleased that Emerson was able to achieve these results.
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Source Fool.com
