Sealed Air Climbs Off Worst Levels But Remains Firmly Negative

(RTTNews) - Shares of Sealed Air Corp. (SEE) have climbed off their worst levels of the day but continue to see considerable weakness in late-day trading on Thursday. After hitting a four-year intraday low, Sealed Air is currently down by 8.4 percent.

Sealed Air initially came under pressure after the bubble wrap manufacturer warned of weaker than expected third quarter earnings and lowered its full-year earnings forecast.

President and CEO Ted Doheny said Sealed Air's third quarter profitability was adversely affected by currency headwinds and higher than expected raw material and freight costs.