Decent earnings have been overshadowed by poor showing in Asia, and a weak U.S. durable goods figure.» Read More
Newell Rubbermaid cut its fourth-quarter and full-year sales forecasts Monday, citing softer demand for office products and subsequent inventory reductions at key retailers.
Stocks closed moderately lower as traders remained cautious ahead of the most anticipated Federal Reserve meeting in years. "It's been sort of a nervous Monday," said Bob Nunn, chief operating officer at Cohen Specialists. "The market wants to see a 50 basis-point cut and comments that we could see cuts in the future. I suspect we're setting ourselves up for a bit of a disappointment."
Newell Rubbermaid raised its full-year and current-quarter earnings guidance Monday, after it resolved some tax matters that resulted in a benefit of about $39 million, or 14 cents a share in the current quarter.