Why Middleby Stock Just Popped 12%

Why Middleby Stock Just Popped 12%

Shares of Middleby Corporation (NASDAQ: MIDD) are up a strong 12.3% at 12:45 p.m. EDT after the maker of restaurant kitchen equipment reported second-quarter earnings this morning. Analysts had forecast that Middleby would earn $0.41 per diluted share (adjusted) for the quarter on sales of $445.9 million. Instead, Middleby turned in a pro forma profit of $0.55 on sales of $472 million.