NEW YORK (TheStreet) -- Newell Rubbermaid (NWL) - Get Report stock is rising 2.16% to $38.32 in mid-morning trading on Friday after the consumer products company posted financial results that met Wall Street's expectations.
Before the market open, the Atlanta-based company reported earnings of 56 cents per share on revenue of $1.56 billion for the quarter ended December 31, in line with analysts' estimates.
Revenue gained 2.3% year-over-year because of strong results from the writing, and baby and parenting segments, with net sales up 11.5% and 13.9%, respectively.
Net sales from the home solutions unit declined 3.7% due to the reduction of the Rubbermaid Consumer Storage business. Tools net sales dropped 8.6%, driven by weak Brazilian sales, while commercial products net sales fell 2.8%.
Newell Rubbermaid is in the processes of gaining regulatory approval to acquire Jarden Corp. (JAH) in a deal valued at about $13.2 billion, according to Reuters.
The company expects to complete the acquisition in the second quarter of 2016, CEO Michael Polk said in a statement.
Separately, Newell Rubbermaid has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's earnings per share and revenue growth, expanding profit margins, notable return on equity, and increase in net income.
You can view the full analysis from the report here: NWL
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