Comment on Why Snap-on Stock Popped 10% Today

Why Snap-on Stock Popped 10% Today

Shares of toolmaker Snap-on (NYSE: SNA) jumped nearly 10% in Thursday trading, closing the day up 9.6% after reporting fiscal Q2 financials that missed analyst expectations for sales, but crushed on earnings.Expected to report $2.95 per share in profit on quarterly sales of $956.3 million, Snap-on instead confirmed that it had EPS of $3.12, albeit on sales of only $954.6 million.Snap-on earnings provide a lesson in the benefits of tax reform.

 

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