Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 23, 2018

Article Excerpt

NEWELL BRANDS INC., $25.34, New York symbol NWL, makes a variety of household goods such as pens, coffee makers and baby strollers. It took its current form with the merger of Newell Rubbermaid and Jarden Corp. on April 15, 2016. Newell shareholders now own 55% of the combined firm. Activist billionaire investor Carl Icahn announced this week that he now owns 6.9% of Newell’s shares. The company has also appointed four of his representatives to its board of directors. In addition, the activist will designate one more nominee at Newell’s upcoming annual meeting. That will give him five representatives on Newell’s 11-member board. Icahn feels Newell is undervalued and supports the company’s plan to narrow its focus to nine key product lines: writing; baby; home fragrance; food; fishing; Jostens (jewellery); appliances and cookware; outdoor and recreation; and safety and security. As part of that strategy, the company will accelerate its plan to sell some of its smaller businesses. Those sales could raise as…