Newell Brands Stock Slides Amid Market Turbulence

Newell Brands stock slid 16.6% after the company posted solid Q4 results but offered lackluster guidance for 2024, with revenue and core sales both falling 9%. Despite improved gross margin and adjusted earnings per share exceeding estimates, the company's guidance for 2024 disappointed investors, with expectations of further revenue decline and adjusted loss in Q1. The company's turnaround is taking longer than hoped, leading to a faster-than-anticipated fall in earnings.