Newell Rubbermaid's Forecast Catches Investors by Surprise.

The article reports on the reduction made by Newell Rubbermaid on its 2008 earnings forecast on December 17. Analyst consensus for the company's full-year earnings was $1.43 a share and 32 cents a share for the 4th quarter, but the maker of food-storage containers, laundry baskets and other household goods dropped its 2008 forecast to a range of $1.17 to $1.21 a share and the 4th-quarter range to 6 to 10 cents a share. It is claimed that Newell's move caught investors by surprise, as its shares declined by 27% to $9.58.