Why These 10 Stocks Soared by Double Digits Today

7. Stanley Black & Decker, Inc. (NYSE:SWK)

Stanley Black & Decker grew its share prices by 15.73 percent on Monday to close at $72.53 apiece as investors gobbled up shares amid a broader market rally brought about by the tariff truce between the US and China.

It can be learned that the US and China over the weekend reached a 90-day deal to reduce levies on each other’s goods. US taxes on Chinese imports will drop to 30 percent from 145 percent previously, while China’s tariffs on US imports will drop to 10 percent from 125 percent previously.

The news became a boost to the company, which announced last month that it was poised to raise prices to mitigate risks from the global trade uncertainties.

Earlier this year, Stanley Black & Decker, Inc. (NYSE:SWK) expected tariffs to reduce its full-year earnings per share by approximately 75 cents.

Stanley Black & Decker, Inc. (NYSE:SWK) is one of the largest tool companies, which owns the Stanley brand, with a manufacturing presence globally.