Why Stanley Black & Decker Stock Fell in May
Stanley Black & Decker (NYSE: SWK) released earnings that showed sales slowing, and results from one of the world's largest home improvement retailers only added to the gloom. Shares of Stanley Black & Decker fell 13.2% in May, according to data provided by S&P Global Market Intelligence, on investor uncertainty about what lies ahead.
Stanley Black & Decker is one of the world's largest tool manufacturers and a longtime dividend stalwart, but the company is still subject to the swings of the broader economy. With interest rates up and the housing industry caught in limbo, demand for tools and construction equipment is currently not as strong as it had been.
In early May, Stanley reported a first-quarter loss of $0.41 on revenue of $3.93 billion. The loss was expected and actually was less than feared, but the revenue number missed the $4.01 billion consensus estimate. A year ago, Stanley earned $2.10 per share in the quarter on revenue of $4.45 billion.
Source Fool.com
