Why Stanley Black & Decker Stock Trounced the Market on Tuesday

The latest executive hire by Stanley Black & Decker (NYSE: SWK) continued to be well received on Tuesday, a day after it was announced. This was bolstered by an analyst's price target rise, although that pundit left his rather lukewarm recommendation intact. Stanley Black & Decker's shares ended the day almost 4% higher in price, essentially obliterating the S&P 500 index with its 0.1% decline.In an endorsement of the ever-popular "promote from within" corporate policy, Stanley Black & Decker announced on Monday that current COO Christopher Nelson will become its CEO on October 1. Nelson, who also serves as the company's president of the tools and outdoor segment, replaces outgoing CEO Donald Allan.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool