Why Newell Brands Stock Jumped 39% on Friday Morning
Newell Brands stock spiked as much as 39% after earnings. So why did most of that gain vanish by lunchtime?
Overview
Shares of Newell Brands (NASDAQ: NWL) soared as much as 38.7% on Friday morning after the consumer-products company reported second-quarter results. The gain had cooled to 10.5% by 11:28 a.m. ET, but the report still gave shareholders plenty to think about.
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Newell reported adjusted earnings of $0.42 per share against the $0.19 Wall Street had penciled in. Revenue climbed 3% to $2.0 billion, delivering the company's first sales growth in over four years.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.