Newell Lifts Guidance, Shares Jump 6%+

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.

Read the full analyst report on NWL