W.W. Grainger’s stock rockets toward record, pacing gains among peers and the broader market
Shares of W.W. Grainger Inc. rocketed $32.28, or 10.6%, toward a record high in midday trade Wednesday, after the maintenance and repair products supplier’s better-than-expected second-quarter earnings report. The stock was the biggest percentage gainer within the SPDR Industrial Select Sector ETF and within the S&P 500 , and was the biggest price gainer on the NYSE. The stock is headed for the biggest one-day price and percentage gain since it soared $42.52, or 18.5%, after reporting fourth-quarter results on Jan. 24. It has now run up 42.8% year to date, while the industrial ETF has slipped 1.4% and the S&P 500 has gained 5.2%.
Source : MTV
