STOCK TITAN

Stanley Black & Decker, Inc. - SWK STOCK NEWS

Welcome to our dedicated page for Stanley Black & Decker news (Ticker: SWK), a resource for investors and traders seeking the latest updates and insights on Stanley Black & Decker stock.

Stanley Black & Decker, Inc. (NYSE: SWK) is a global leader in tools and outdoor products, headquartered in the USA. Since its inception in 1843, the company has set the standard for excellence by delivering innovative, powerful tools that professionals rely on worldwide to build, repair, and protect valuable assets. The company's diverse portfolio includes iconic brands such as DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.

Stanley Black & Decker operates in two main segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment, which generates the majority of the company's revenue, includes the Power Tools Group (PTG), Hand Tools, Accessories and Storage (HTAS), and Outdoor Power Equipment. The Industrial segment focuses on engineered fastening systems and other industrial solutions. Geographically, the company's revenue is primarily derived from the United States, with significant contributions from Canada, Europe, Asia, and other regions.

The company is committed to sustainability and global stewardship, aiming to advance these principles across its entire value chain through its operations and workforce. Stanley Black & Decker's recent achievements highlight its strategic business transformation, focusing on innovation, market activation, and cost efficiency. In the third quarter of 2023, the company reported improvements in adjusted gross margins and earnings per share, laying a solid foundation for future growth.

Stanley Black & Decker is also known for its proactive approach in response to market dynamics. The Global Cost Reduction Program, initiated to optimize the company's cost base, has generated substantial savings and improved inventory management, positioning the company for long-term growth and profitability. The program aims to achieve pre-tax run-rate cost savings of approximately $2 billion by the end of 2025.

In addition to its financial initiatives, Stanley Black & Decker emphasizes community support and educational advancement. The DEWALT brand, for instance, has launched the DEWALT Trades Scholarship, awarding scholarships to students pursuing careers in the trades, as part of a broader effort to close the skilled trades gap in the U.S.

With a rich history of innovation and a commitment to future growth, Stanley Black & Decker continues to be a driving force in the tools and outdoor industry, dedicated to supporting professionals and DIY enthusiasts alike.

Rhea-AI Summary

Mechanicsburg, Pennsylvania is celebrating Raymond DeWalt Day on October 9 to honor their hometown hero and the 100th anniversary of DEWALT, a Stanley Black & Decker brand. The event coincides with what would have been Raymond DeWalt's 139th birthday.

Raymond DeWalt revolutionized the construction industry with his innovative woodworking machine, an adjustable radial arm saw known as the 'DeWalt Wonder-Worker'. Mayor Jack Ritter, in partnership with DEWALT, has proclaimed October 9 as 'Raymond DeWalt Day'.

To honor DeWalt's legacy of supporting the trades, DEWALT is donating tools to Cumberland-Perry Area Vocational Technical School and Mechanicsburg High School. This celebration is part of a series of events commemorating the brand's centennial anniversary.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.07%
Tags
none
-
News
Rhea-AI Summary

CRAFTSMAN®, a Stanley Black & Decker brand, offers tips and gear recommendations for tailgating season. With 20 to 50 million people tailgating annually, CRAFTSMAN provides cordless solutions and equipment for outdoor gatherings. Key products include:

1. V20* Speaker (CMCR001B) for high-quality sound
2. V20* High Pressure Inflator (CMCE521B) or 3-in-1 Inflator (CMXPTXA2001) for inflation tasks
3. V20* Misting Fan Kit (CMCE003C1) for cooling
4. V20* USB Power Source or Power Inverter (CMCB002B, CMCB1150B) for device charging
5. 2" X 27' Ratchet Straps (CMXAZBS10000F) for securing gear

CRAFTSMAN emphasizes proper planning and having the right equipment for successful tailgating experiences.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.81%
Tags
none
-
Rhea-AI Summary

Hustler, a Stanley Black & Decker (NYSE: SWK) brand, is celebrating its 60th anniversary as a pioneer in the lawncare industry. The brand revolutionized the sector by introducing the world's first twin-lever zero-turn lawn mower in 1964. Inventor John Regier created this innovative mower, naming it after the U.S. Air Force B-58 Hustler fighter-bomber due to its speed, agility, and efficiency.

Excel Industries began production of the Hustler mower in 1964, and the brand has since expanded its product line with reliable equipment for landscape professionals. Now under Stanley Black & Decker, Hustler offers a full range of commercial and residential mowers, including the award-winning X-RIDE™.

To commemorate this milestone, Hustler will be present at this year's Equip Expo in Louisville, Kentucky from October 15-18. Attendees can visit Hustler's indoor and outdoor booths, and enter the Hustler Mentality trailer giveaway for a chance to win a utility trailer with two Hustler units.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.81%
Tags
none
Rhea-AI Summary

DEWALT, a Stanley Black & Decker brand (NYSE: SWK), is celebrating its 100th anniversary by inviting 100 tradespeople and those who serve the trades to the New York Giants game on October 20, 2024, at MetLife Stadium. As the Presenting Sponsor, DEWALT will honor these professionals for their contributions in building our world. The event is part of DEWALT's Grow the Trades initiative and will feature an on-field check presentation to support vocational and upskilling programs in the trades.

Stanley Black & Decker CEO Don Allan and invited guests will join Giants captains for the opening coin toss. The New York Giants are also celebrating their 100th season in 2024, marking a milestone for both organizations. DEWALT has been delivering tools to meet the needs of professional tradespeople worldwide since 1924.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.63%
Tags
none
-
Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) has announced the release date for its third quarter 2024 earnings. The company will broadcast its earnings webcast on Tuesday, October 29, 2024, at 8:00AM ET. A news release detailing the financial results will be distributed before the market opens on the same day.

Investors can access a slide presentation accompanying the call on the company's website, which will remain available after the event. The earnings call will be accessible through a live, listen-only webcast or teleconference. Links to access the webcast, register for the teleconference, and view the presentation will be available on the "Investors" section of Stanley Black & Decker's website. A replay of the call will be made available two hours after its conclusion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.19%
Tags
-
Rhea-AI Summary

DEWALT, a Stanley Black & Decker brand, announced it is awarding 166 organizations with nearly $4 million in Grow the Trades Grants. This is part of DEWALT's $30 million commitment by 2027 to close the skilled trades gap. The grants support organizations providing certifications and credentials to skill tradespeople, helping 150,000 people on their trades journey.

Key recipients include:

  • The ACE Mentor Program of America
  • mikeroweWORKS Foundation
  • The International Training Institute

Additionally, DEWALT is encouraging high school seniors to apply for the 2025 DEWALT Trades Scholarship, which will begin accepting applications in October. The scholarship program, now in its sixth year, has awarded $850,000 in scholarships across the United States and Canada.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.01%
Tags
none
Rhea-AI Summary

CRAFTSMAN®, a Stanley Black & Decker brand, announces the Ultimate Garage Giveaway running through November 1, 2024. Participants can win $10,000 worth of CRAFTSMAN products and a Toyota Tacoma TRD Off-Road truck. The winner will receive a garage consultation with HGTV star Cristy Lee. CRAFTSMAN has also launched a virtual garage configurator to help homeowners plan their dream garage.

The giveaway aims to address the issue of garage clutter, as a CRAFTSMAN survey revealed that 36% of Americans can't park vehicles in their garage due to clutter, while 75% believe their garage could be the most productive space in their house. The brand offers various storage solutions, including tool chests, cabinets, and the VERSATRACK™ wall storage system.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.22%
Tags
none
-
Rhea-AI Summary

DEWALT, a Stanley Black & Decker (NYSE: SWK) brand, has unveiled a range of new hand tools and accessories designed to enhance productivity for trade professionals. Key innovations include:

1. The 20V MAX* GRABO Lifter with a lift-load capacity of up to 265 lbs. horizontally and 132 lbs. vertically.

2. Expansion of the IMPACT CONNECT™ System with new attachments for pipe cutting, nut running, and PEX crimping/pinching.

3. New TOUGHSERIES™ mechanics tool sets and wrench sets featuring powerjaw technology and 144-tooth count quick release ratchets.

4. Introduction of new utility knives and laser measurement tools.

These products are designed to optimize workflow and productivity across various trades, including mechanical, electrical, plumbing, and automotive.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.22%
Tags
none
-
Rhea-AI Summary

DEWALT and WorldSkills International conducted a global survey of young trade professionals competing at WorldSkills Competition 2024. Key findings include:

- 44% say social media inspired their career choice
- 75% plan to use social media to promote skilled careers
- 42% cite social stigma as a barrier to entering trades
- 35% mention lack of parental support as an obstacle

To inspire the next generation, DEWALT encourages tradespeople to promote their trade on social media using #TradeProud. The survey highlights the need for innovative approaches to present skilled career options and challenge outdated perceptions. DEWALT's Grow the Trades program commits $30 million over five years to address the skilled trades gap in the US, Mexico, and Europe.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
none
Rhea-AI Summary

White Cap and DEWALT have announced their second annual partnership to support St. Jude Children's Research Hospital. The collaboration includes a special dedication on the #20 DEWALT car at the Bristol Motor Speedway on September 21, 2024, honoring a $175,000 donation from DEWALT to St. Jude. Additionally, DEWALT will donate another $25,000 through the purchase of select products at participating White Cap branches.

The partnership aims to raise awareness for childhood cancer research during Childhood Cancer Awareness Month. The #20 racecar, driven by Christopher Bell, will feature artwork by St. Jude patients. The total donation has doubled since last year, supporting St. Jude's mission to improve childhood cancer survival rates globally.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.52%
Tags
partnership

FAQ

What is the current stock price of Stanley Black & Decker (SWK)?

The current stock price of Stanley Black & Decker (SWK) is $85.45 as of November 15, 2024.

What is the market cap of Stanley Black & Decker (SWK)?

The market cap of Stanley Black & Decker (SWK) is approximately 13.3B.

What does Stanley Black & Decker do?

Stanley Black & Decker is a global leader in tools and outdoor products, manufacturing power tools, hand tools, storage solutions, and engineered fasteners. Its iconic brands include DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.

What are the main segments of Stanley Black & Decker?

The company operates in two main segments: Tools & Outdoor and Industrial. The Tools & Outdoor segment includes the Power Tools Group, Hand Tools, Accessories and Storage, and Outdoor Power Equipment. The Industrial segment focuses on engineered fastening systems.

Where does Stanley Black & Decker generate most of its revenue?

The majority of Stanley Black & Decker's revenue is generated from the United States, with significant contributions from Canada, Europe, Asia, and other regions.

What is the Global Cost Reduction Program?

The Global Cost Reduction Program is an initiative by Stanley Black & Decker aimed at optimizing the company's cost base and generating substantial savings. The program targets approximately $2 billion in pre-tax run-rate cost savings by the end of 2025.

How is Stanley Black & Decker committed to sustainability?

Stanley Black & Decker is committed to sustainability and global stewardship by advancing these principles across its entire value chain through its operations and workforce.

What recent achievements has Stanley Black & Decker made?

In the third quarter of 2023, Stanley Black & Decker reported improvements in adjusted gross margins and earnings per share. The company is also making significant progress with its Global Cost Reduction Program.

What is the DEWALT Trades Scholarship?

The DEWALT Trades Scholarship is an initiative by the DEWALT brand to support students pursuing careers in the trades. This scholarship is part of a broader effort to close the skilled trades gap in the U.S.

What are some of the iconic brands under Stanley Black & Decker?

Some iconic brands under Stanley Black & Decker include DEWALT, BLACK+DECKER, CRAFTSMAN, STANLEY, CUB CADET, and HUSTLER.

How does Stanley Black & Decker support innovation?

Stanley Black & Decker supports innovation by investing in new product development and strategic market activation, ensuring the delivery of high-quality, award-winning power tools and other industrial solutions.

What is the company's vision for the future?

Stanley Black & Decker's vision for the future includes being a sustainable company that advances global stewardship, supports its communities, and continues to innovate in the tools and outdoor industry.

Stanley Black & Decker, Inc.

NYSE:SWK

SWK Rankings

SWK Stock Data

13.28B
154.16M
0.26%
90.73%
3%
Tools & Accessories
Cutlery, Handtools & General Hardware
Link
United States of America
NEW BRITAIN