Why W.W. Grainger Shares Popped More Than 12% Today

Shares of W.W. Grainger Inc. (NYSE: GWW) jumped in trading Tuesday after the industrial supply company reported third-quarter results. After a rapid rise that moderated briefly late in the morning, shares continued to climb, notching a gain of 12.1% as of 2:32 p.m. EDT.

Sales for the quarter were up 2% to $2.64 billion, but the period had one fewer day than in 2016, so daily sales rose 3%. Net income fell 13% to $162 million, and earnings per share dropped 9% to $2.79.

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Source: Fool.com