Black & Decker Shares Jump On Upped 1Q Guidance

Shares of power-tool maker Black & Decker jumped $5.29, or 6.32%, to $89.01 in after hours trading after the company announced it was upping its first quarter EPS guidance to well above the previously guided range. In a statement released after yesterday's closing bell, the company raised its first quarter EPS guidance to $1.60, from a previous projection of EPS in a range of $1.25-$1.30. Thomson Financial consensus estimates were looking for EPS of $1.26. The company credited strong international performance by its power tools and accessories segment, as well as "favorable order patterns" in the U.S., for its increased outlook. However, due to the continued expectation of a "challenging economic environment," the company only expects to up its full year guidance slightly from its current projected range of $6.25-$6.55 a share when it reports earnings on April 25.

Sources: Press Release, AP, TheStreet.com, Reuters
Commentary: Cramer's Take on BDK • And The Hot Christmas Present This Year Was...
Stocks/ETFs to watch: The Black & Decker Corporation (BDK). Competitors: Illinois Tool Works (ITW), Home Depot (HD), Lowe's Companies (LOW)

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