Why ACCO Brands Corporation's Shares Popped Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of ACCO Brands Corporation jumped as much as 11% in early trading after the company reported earnings.
So what: Fourth-quarter net sales were down 5%, to $503.7 million, and income from continuing operations was $50.3 million, or $0.43 per share. That was $0.01 ahead of expectations, and showed a continued slow deterioration of the company's operations.
Now what: Guidance was mixed, but gave a few investors reason to buy today. Management said sales would be down mid-single digits next year, and earnings would be between $0.70 and $0.76, both adjusted down for currency effects. Those numbers aren't enough for me to get excited today, and the exuberance wore off shares as the day went on, as well.
A stock with room to grow
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The article Why ACCO Brands Corporation's Shares Popped Today originally appeared on Fool.com.
Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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