BUZZ-Stanley Black & Decker rises on upbeat Q2 results, annual profit forecast
Reuters · 07/30 13:19
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** Tool-maker Stanley Black & Decker's shares SWK.N rise 6.8% to $103.01 premarket
** Co beats Wall Street est. for Q2 profit, helped by higher margins for its products as SWK implemented cost-saving measures
** Posts Q2 adj. profit of $1.09 per share, compared with analysts' avg. est. of 84 cents - LSEG data
** Total Q2 revenue of $4.024 bln comes in slightly above est. of $4.016 bln
** SWK lifts lower end of its annual profit forecast range to $3.70-$4.50 per share, from prior view of $3.50-$4.50
** Stock has fallen 1.7% YTD
(Reporting by Aatreyee Dasgupta)
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