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June 16, 2020, 9:12 a.m. EDT

Masco stock rallies after raised sales outlook

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By Tomi Kilgore

Shares of Masco Corp. /zigman2/quotes/202412472/composite MAS +0.98% rallied 4.7% toward a 4-month high in premarket trading Tuesday, after the maker of home improvement products, including Behr paint and Delta faucets, increased its second-quarter sales outlook, citing a "better-than-anticipated rebound." The company now expects sales to fall about 8% from a year ago, compared with previous expectations of a decline of 15% to 20%. The FactSet sales consensus of $1.48 billion implies a 34.9% decline. The company said sales in its plumbing business is expected to be down about 19%, while decorative architectural products sales expected to be rise 6%. The stock, which is on track to open at the highest level seen during regular-session hours since Feb. 10, has surged 33.8% over the past three months through Monday, to outperform the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.72% , which has climbed 28.5%.

/zigman2/quotes/202412472/composite
US : U.S.: NYSE
$ 57.72
+0.56 +0.98%
Volume: 1.70M
Aug. 3, 2020 4:03p
P/E Ratio
35.90
Dividend Yield
0.94%
Market Cap
$15.08 billion
Rev. per Employee
$321,500
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/zigman2/quotes/210599714/realtime
US : S&P US
3,294.61
+23.49 +0.72%
Volume: 2.38B
Aug. 3, 2020 4:54p
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