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Newell Brands Inc. (NWL) Tumbled To A New Low After Forecast Reduced

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 sharply lower Thursday and declined until mid-morning. Shares finished with a loss of 6.42 at $24.81 on the highest volume of the year. The stock sank beneath support and set a new low for the year.

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