International Paper (IP -3.9%) trades lower after coming up short on its Q3 result earlier...

|About: International Paper Co. (IP)|By:, SA News Editor

International Paper (IP -3.9%) trades lower after coming up short on its Q3 result earlier today. Net profit slid 49% as income was weighed down by costs from its acquisition of rival Temple-Inland and the sale of two containerboard mills in California and one in Tennessee, which stripped about $45M off its bottom line. Separately, the company announces it's formed a joint venture with Grupo Orsa in Brazil in an effort to expand its global footprint.