Watsco Shares Drop About 10% on Competition Concerns
Shares of Watsco (WSO) are underperforming on Tuesday on competition concerns after Home Depot (HD) announced that its SRS Distribution unit had agreed to acquire Mingledorff's for an undisclosed amount. The latter is a wholesale distributor of heating, ventilation and air conditioning Equipment, Parts and supplies. Watsco shares are down roughly 10% to $347.46 in morning trading.
