Newell Lifts Guidance, Shares Jump 6%+ – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/23042/Newell+Lifts+Guidance%2C+Shares+Jump+6%25%2B+-+Zacks+Tale+of+the+TapePosted on Thursday, July 30th, 2009 | In Market Commentary, Stocks to Watch
Shares of Newell Rubbermaid Inc. (NWL) have climbed more than 6% today after lifting its full-year outlook.
The company now expects adjusted earnings of $1.15 to $1.30 per share, compared to the earlier prediction of $1.00 to $1.25 per share.
The Zacks Consensus Estimate is at $1.14 per share, which has moved up a penny over the past 2 months.
Meanwhile, Newell reported second-quarter adjusted earnings of 47 cents per share, topping the Zacks Consensus Estimate by more than 34%.
Sales, however, fell 18% to $1.5 billion on account of sluggish core revenue, planned product line exits and adverse foreign currency translation.
NWL, a Zacks #3 Rank (”Hold”) stock, is trading on heavier-than-usual volume of about 8 million, against the average daily volume of approximately 4.2 million.
“NWL” Free Stock Analysis: Buy? Sell? Hold?
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