Stanley Black & Decker ahead of estimates

NEW BRITAN, Conn. ― Stanley Black & Decker posted net sales of $2.9 billion, up 2% versus the prior year, as positive volume and price movements more than offset currency fluctuations. The tool manufacturer raised the floor on its forecast for the year, now expecting earnings with a range of $6.40 (raised from $6.30) to $6.50 per share. Overall earnings rose to $248.9 million, from $228.7 million the same period last year. The company has agreed to buy Newell Brands’ tool business, a deal expected to close in early 2017.