Business

Market Movers

Stanley Black & Decker stock plunges

The company known for tools offers many other products, including pharmacy access controls and fire alarms.

Associated Press/File 2013

The company known for tools offers many other products, including pharmacy access controls and fire alarms.

Advertisement

Stanley Black & Decker had the S&P 500’s largest drop after it cut expectations for the year, citing slower growth in emerging markets and a hit from the US government shutdown. It now expects adjusted earnings of $4.90 to $5 per share; analysts forecast $5.44. Half the reduction is tied to slower-than-expected profit growth in the security division. Third-quarter earnings rose 44 percent to $166 million but the top line didn’t grow as fast as expected: Revenue rose nearly 10 percent.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com