Spectrum Brands Holdings, Inc.(SPB - Free Report) was a big mover last session, as the company saw its shares rise more than 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 4.9% in the past one-month time frame.
The move came after the company announced that the Federal Trade Commission (FTC) has allowed expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with respect to the previously announced acquisition by Energizer of Spectrum Brands' battery and lighting products business.
The company has seen four negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Spectrum Brands currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the Consumer Products - Staples sector is Blue Buffalo Pet Products, Inc. , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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