Photographer: Chris Ratcliffe/Bloomberg

Whirlpool Shares Rally as Americans Snap Up More Home Appliances

Whirlpool Corp. shares climbed after the appliance industry’s sales surged in June, a sign more Americans are upgrading their air conditioners and other equipment.

U.S. shipments of major home appliances rose 5.7 percent to 8.13 million units last month from a year earlier, according to the Association of Home Appliance Manufacturers. The shipments are up 2.1 percent so far this year.

Air conditioners and other home-comfort appliances soared almost 43 percent in June from a year earlier, while food-preservation equipment such as refrigerators grew 4.3 percent, the trade group found. Room air conditioners alone climbed 66 percent.

Whirlpool’s stock gained as much as 3.5 percent to $181.67 in New York on Monday, the biggest intraday increase in almost three weeks. The stock was up about 20 percent this year through the end of last week.

Before it's here, it's on the Bloomberg Terminal.