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Newell Brands Inc. (NWL) Has Dropped To A New Low After Guidance Cut

Newell Brands Inc. (NWL) reduced its full year 2017 EPS forecast to between $2.72 and $2.76 from previous guidance $2.80 to $2.85. Analysts expect EPS of $2.81.

The company also announced that it will explore a series of strategic initiatives to accelerate its transformation plan, improve operational performance and enhance shareholder value.

Newell Brands gapped open lower Thursday and has dropped sharply in early trade on above average volume. Shares are now down 5.96 at $25.28. The stock has tumbled to a new low for the year.

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