Is Newell Rubbermaid Now Dead Money?
There are many stocks which are supposed to be at least somewhat immune to the recession. This notion has become less and less true, even if some of the former recession-proof stocks have not fallen so much as others. It seems no earnings are sacred, and that is now also the case at Newell Rubbermaid Inc. (NYSE: NWL). Newell Rubbermaid now expects earnings at $0.06 to $0.10 EPS,excluding a $0.09 tax benefit. Thomson Reuters (First Call) hasestimates pegged at $0.32 EPS. The company’s own prior guidancewithout any tax benefit was $0.29 to $0.34 EPS. The company is takingdown the annual target to $1.17 to $1.21 EPS. We had noticed how the latest pop in Newell Rubbermaid had taken the stock backup near a resistance level. It was as if the chart was waiting fornews to catapult it higher from the recent lows or to smack it backdown. The guidance is one thing that offers no comfort today, but thefurther out comments may put a lid on this one for quite some time. The company is blaming extrao
