NEW YORK (TheStreet) -- Shares of Whirlpool (WHR) - Get Report are surging 4.27% to $161.11 on heavy trading volume late Tuesday afternoon after reaffirming its 2016 guidance in the wake of Britain's decision last week to leave the European Union.
"As we have done in the past in all markets, we are prepared to take swift actions to offset the negative impact to our EMEA operations," CEO Jeff Fetting said in a statement. "We will continue to monitor the situation closely to determine if additional actions may be required."
The Benton Harbor, MI-based home appliance retailer's U.K. business represented about 5% of its global revenues last year, according to a company statement.
But Whirlpool nonetheless reaffirmed its full-year guidance outlook of between $14 and $14.75 per share. Analysts surveyed by Thomson Reuters are looking for earnings of $14.75 per share.
About 1.44 million shares of Whirlpool have been traded so far today vs. the company's average trading volume of roughly 890,876 shares per day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.
Whirlpool's strengths such as its reasonable valuation levels and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: WHR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.