Newell Brands stock falls as earnings fall short

November 4, 2017 at 4:30AM
FILE - In this Monday, Jan. 4, 2016, file photo, a pair of Under Armour SpeedForm Gemini 2 Record Equipped running shoes, containing an embedded chip to track exercise, are displayed in New York. Under Armour Inc. reports earnings Tuesday, Oct. 31, 2017. (AP Photo/Mark Lennihan, File)
Under Armour shares fell 14.5 percent Tuesday after it said demand for its sporting gear weakened. (The Minnesota Star Tribune)

Falling short: Newell Brands shares fell 26.2 percent to $30.25 Thursday after it said its third-quarter results were hurt by the bankruptcy of a retail partner, lost earnings from its former winter sports businesses, and higher costs. The stock finished the week at $30.77.

More pain: Merck shares fell 5.7 percent to $54.95 Monday after it withdrew an application to market its Keytruda cancer drug in Europe. Merck shares closed the week at $56.06.

Hang up: Shares of Sprint and T-Mobile US plunged Monday after a report from Nikkei in Japan said that Sprint's majority owner, Softbank, wants merger negotiations between the companies called off. Sprint, which fell 7.4 percent, to $6.48 on the news, closed the week at $6.67. T-Mobile, down 4.2 percent, to $60.33 Monday, closed Friday at $58.91.

Food binge: Several food companies saw big gains Tuesday after reporting stronger-than-expected earnings. Kellogg jumped 6.8 percent, to $62.89 as stronger sales of Pringles in Europe and Asia helped it to report slightly higher revenue in the third quarter than a year earlier. Its shares ended the week at $61.96. Mondelez International gained 6.3 percent, to $41.79 after it reported revenue gains in Latin America, Europe and North America. The shares closed Friday at $40.97.

Threaded: Under Armour on Tuesday fell 14.5 percent to $14.04 after it said demand for its sporting gear in North America weakened last quarter. It also lowered its forecast for earnings this year for the second time in three months. Its shares closed Friday at $10.59.

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Spencer Platt

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