Why Weyerhaeuser Stock Soared 23.8% in July
Shares of Weyerhaeuser (NYSE: WY) rallied 23.8% in July, according to data provided by S&P Global Market Intelligence. Driving up the timber REIT's stock were its better-than-expected second-quarter results.
Weyerhaeuser produced $0.11 per share of adjusted earnings during the second quarter, which blew past the analysts' consensus estimate of $0.01 per share. That surprisingly strong performance was driven by record low costs despite significant production curtailments in the face of unexpectedly strong demand.
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Source Fool.com
