Berry Plastics tumbles on reduced Q4 outlook

Shares of Berry Plastics (BERY -12.5%) tumble after the company slashes its Q4 EBITDA guidance to -10% of Q4 EBITDA from a previously forecast "modest increase" at its investor day.

The company also stated it will pursue "all avenues" for returning value to shareholders.

RW Baird believes BERY shares are likely to remain range-bound due to the guidance cut. Baird previously stated that the investor day would be a net positive for the stock.

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