Business Services Industry
Masco Corp. (NYSE: MAS).(Brief Article)
Crain's Detroit Business, November, 2000 by Green, Leslie
Masco Corp. Chairman and CEO Richard Manoogian isn't pleased with the company's recent performance. And based on the recent dip in stock since last week's earnings announcement, investors aren't happy either. Taylor-based Masco incurred $50 million to $60 million in added expenses during the third quarter from rolling out product lines, $50 million from increased energy costs and $30 million from the euro's decline.
Still, Wall Street hasn't lowered its ``buy'' rating for the country's largest maker of cabinets, faucets, locks and other home-improvement products. Masco posted an 11 percent sales increase for the third quarter, which ended Sept. 30, and combined sales to Home Depot Inc., Lowe's Home Centers and Wal-Mart Stores Inc. increased 15 percent....
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