Newell Brands to transfer stock listing to Nasdaq

Newell Brands Inc. NWL, -1.03% said Wednesday it will transfer the listing of its stock to the Nasdaq Global Market from the New York Stock Exchange, effective after the Dec. 10 close, citing Nasdaq’s “cost-effective” platforms and tools for branding. The consumer goods company, which brands include Sharpie, Graco and Paper Mate, said the stock’s ticker symbol will remain “NWL.” The company said the listing transfer, which is expected to be “seamless” for its shareholders is part of its accelerated transformation plan. The stock, which rose 0.6% in premarket trade, has lost 24% year to date through Tuesday, while the SPDR Consumer Discretionary Select Sector ETF XLY, +2.31% has gained 6% and the S&P 500 SPX, +1.86% has edged up 0.3%.

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