U.S. Markets closed

Stanley Black & Decker has additional 5%-10% downside risk, says Wells Fargo

Wells Fargo believes Stanley Black & Decker management should have accepted more responsibility for the company's disappointing results on today's conference call. Following today's 14% pullback, Wells sees an additional 5%-10% downside risk for the stock, depending on where estimates settle for next year. The firm keeps a Market Perform rating on the name.