NEW YORK ( TheStreet) -- Newell Rubbermaid ( NWL) shares were falling 8.5% to $15.52 in premarket trading Friday after the consumer goods company lowered its 2011 outlook to the range of $1.60 to $1.67 a share from $1.67 to $1.70 previously, reflecting disappointing economic conditions and weak consumer spending trends in the U.S.

Newell Rubbermaid also said it believes its second-quarter performance will be lower than analysts' consensus expectations.


GT Solar International ( SOLR ) was popping by 6.7% to $12.83 on news that the solar industry services provider has received a $460.4 million order for its advanced sapphire crystallization furnaces from a China-based manufacturing company new to the LED (light-emitting diode) industry.


Tesla ( TSLA) was rising 5.5% to $30.33 in premarket trading Friday after raising $152.4 million in a secondary offering.

The electric vehicle maker said in regulatory filing that it plans to reveal a prototype of its Model X crossover vehicle by the end of 2011 and begin selling it in the fourth quarter of 2013.


Arch Coal ( ACI) shares were down 2.3% to $26.79 after announcing that its public offering of 48 million shares of common stock has priced $27 a share for gross proceeds of about $1.3 billion.


Property insurer Allstate ( ALL) was falling by 2.2% to $30.22 after being downgraded to hold from buy at Citigroup.


Shipping company Frontline ( FRO) was falling 1.9% to $17.50 after being cut to market perform from outperform by Wells Fargo.


Drug company Forest Laboratories ( FRX) was up 0.2% to $35.63 after being raised to overweight from neutral by JPMorgan.


Drugstore chain Walgreen ( WAG) said its May sales increased 7% to $6.08 billion from $5.69 billion the same time last year.


San Jose, Calif.-based electronic payment technology company Verifone Systems ( PAY) posted quarterly results that came in slightly ahead of Wall Street expectations. Shares were trading sideways at $47.14.


Retail giant Wal-Mart ( WMT) is scheduled to hold its annual shareholders' meeting in Bentonville, Ark. Friday. While the Dow component is expected to outline a number of strategic plans, the big question mark is still when it will be able to jumpstart domestic same-store sales.

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-- Written by Andrea Tse in New York.

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