Why Resideo Technologies Stock Just Popped 12.5%

Shares of Resideo Technologies (NYSE: REZI), the Austin, Texas-based maker of temperature and humidity control, water, air, and software solutions products, look likely to close as much as 12.5% higher as we enter the final quarter hour of stock trading on Tuesday. Earlier today, Resideo reported its financial results for Q2 2020, showing sales very close to the $1.02 billion that Wall Street had forecast for it, and pro forma earnings more than four times estimates -- at $0.17 per share. While close to estimates, the $1 billion in sales that Resideo reported were still down 17% from Q2 2019 levels.