Stanley Black & Decker (SWK) has hit the sale button following the $1.95 billion acquisition of Newell Brands麓s tools business in October. The company is now selling the majority of the Mechanical Security business in a $725 million cash deal.
This portfolio management make sense from a strategic and financial point of view, an area at which Stanley has excelled in the past. Given the very modest earnings multiples on a pro-forma basis, I am compelled to pick up a few shares on any dip, as Stanley has missed the Trump election rally.
Strong management, good capital allocation decisions, good brands and a decent earnings yield should all support the long term bull case.
Getting Out Of Mechanical Security
SWK has agreed to sell BEST Access, phi Precision and GMT to dormakaba in a $725 million cash deal. The businesses involved in the deal generate $270 million in sales and $52 million in EBITDA, indicating that SWK is receiving healthy multiples for the business.
Top Financial Stocks To Invest In 2018: Cooper Companies, Inc. (The)(COO)
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Monday was The Cooper Companies, Inc. (NYSE: COO) which traded down 3.7% at $242.09. The stocks 52-week range is $192.24 to $260.26. Volume was nearly 1 million compared to the daily average volume of less than half a million.
Top Financial Stocks To Invest In 2018: TeleNav Inc.(TNAV)
- [By Lisa Levin]
Telenav Inc (NASDAQ: TNAV) shares were also up, gaining 16 percent to $8.15 after the company reported the settlement of patent lawsuit. The company projects Q2 revenue of $51 million to $52 million and loss of $0.30 per share to $0.28 per share.
Top Financial Stocks To Invest In 2018: Digital Realty Trust Inc.(DLR)
- [By Benzinga News Desk]
Last year was brutal for hedge fund investors — but you wouldn’t know it from the fund managers’ paychecks: Link
The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
Jefferies Upgraded ConocoPhillips (NYSE: COP) from Hold to Buy
JPMorgan Upgraded Clovis Oncology (NASDAQ: CLVS) From Neutral to Overweight
Morgan Stanley Upgrades TJX Companies (NYSE: TJX) From Equal-Weight to Overweight
Macquarie Downgraded Disney (NYSE: DIS) from Outperform to Neutral
Deutsche Bank Downgraded AvalonBay (NYSE: AVB) from Buy to Hold
Wells Fargo Downgrades Digital Realty Trust (NYSE: DLR) From Outperform To Market Perform
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here or email email@example.com.
- [By Lisa Levin]
DuPont Fabros Technology, Inc. (NYSE: DFT) shares shot up 10 percent to $61.07. Digital Realty Trust, Inc. (NYSE: DLR) announced plans to merge with DuPont Fabros.