NWL - Why Newell Brands Stock Jumped on Friday
2024-04-27 13:06:08 ET
Newell Brands (NASDAQ: NWL) investors had a great end to their week. The consumer staples company's shares jumped 10% in early Friday trading. That's as compared to a 1.2% rally in the S&P 500 . The boost only erased some of Newell Brands' recent losses, though. Shares remain down 10.3% so far in 2024 compared to a 6.9% increase in the wider market.
Friday's rally was sparked by positive news on Newell Brands' earnings trends.
Management said in a pre-market press release that organic sales fell 5% in Q1, which isn't usually good news. Yet that performance marked an improvement over the prior quarter's 9% slump. Newell Brands, which manufactures various consumer and commercial products, notched a few other helpful wins in the period, including higher profit margins and better cash flow.
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Why Newell Brands Stock Jumped on Friday