Stocks Turn Active on Retreated Views: Newell Brands (NYSE:NWL), Fitbit (NYSE:FIT)

Newell Brands Inc. (NYSE:NWL) [Trend Analysis] retains strong position in active trade, as shares scoring 2.09% to $46.48 in a active trade session, while looking at the shares volume, around 3.65 Million shares have changed hands in this session. Newell Brands Inc. (NWL) decided to purchase New Zealand-based Sistema Plastics, a leading provider of innovative food storage containers, primarily under the Sistema brand, for NZ$660 million or US$470 million.

In addtion, the company has entered into a definitive contract to acquire Smith Mountain Industries, a leading provider of premium home fragrance products, primarily under the WoodWick Candle brand, for $100 million. Both businesses are growing at rates well above Newell Brands’ core sales growth rate and are expected to be immediately accretive to normalized earnings.

Newell Brands stated that both acquisitions will be funded from cash on hand at the time of closing. Neither acquisition is expected to draw on the U.S.-based net proceeds from planned divestitures which will be used primarily for accelerated debt repayment as part of the Company’s commitment to achieve the stated leverage ratio goal of 3 to 3.5 times EBITDA by the end of 2018. The firm has institutional ownership of 96.70%, while insider ownership included 0.30%. NWL attains analyst recommendation of 1.70 with week’s performance of 1.71%. Investors looking further ahead will note that the Price to next year’s EPS is 3.68%.

Fitbit, Inc. (NYSE:FIT) [Trend Analysis] knocking active thrust in leading trading session, shares a loss of -1.15% to 7.73 with around 9.78 Million shares have changed hands in this session. The maker of popular fitness trackers, Fitbit (FIT) has acquired assets owned by rival Pebble, including key employees and intellectual property related to software and firmware development.The deal, which was declared last week, closed on Tuesday, Fitbitreportedon Wednesday.

Amid slumping sales in the overall smartwatch market, Fitbit was interested in the PebbleOS, which has a large number of apps running on it and can be paired with both Apple’s iOS and Android.Pebble, which launched with the help of a $10 million Kickstarter campaign in 2012, will stop manufacturing devices, company founder Eric Migicovsky said in a blog post. The stock is going forward its fifty-two week low with 0.39% and lagging behind from its 52-week high price with -75.73%.

Similar, the positive performance for the quarter recorded as -47.41% and for the year was -73.80%, while the YTD performance remained at -73.88%. FIT has Average True Range for 14 days of 0.44.


About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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