Newell Brands beats estimates

HOBOKEN, N.J. — Newell Brands’ Q1 profits soared by 52% to $164 million, or 34 cents per share, amid high demand for Rubbermaid containers and Sharpie pens. Core sales increased by 2.5% to $3.27 billion. Analysts had forecast on average earnings of 29 cents per share and total revenues of $3.22 billion. The company also announced that it had closed the sales of 10% of its brand holdings to better focus on its core business.