Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Merrill Downgrades Newell Rubbermaid to 'Sell'

Merrill downgraded Newell Rubbermaid (NWL) to sell from buy.

Consumer-products maker Newell cut its guidance. Analyst Carol Warner Wilke says the maker of Rubbermaid storage products cited trouble at its picture-frames business, pricing pressure on opening price-point items, and retailer inventory reductions. She's concerned Newell was so blindsided by these issues after recently reiterating the 2003 outlook.

Wilke questioned Newell's ability to ever post top-line growth near its long-term goal of 5%. Given the extremely low visibility, she's concerned about the possibility of further estimate reductions, and feels Newell's s new targets continue to be a bit aggressive.

Wilke cut the $1.81 2003 earnings per share estimate to $1.60, and cut the $2.03 2004 estimate to $1.76.

blog comments powered by Disqus