Tallahassee, FL 1/24/12 (StreetBeat) -- Jarden Corp (NYSE: JAH) forecast fourth-quarter revenue slightly above expectations and said it would accelerate stock buybacks, sending the diversified consumer products company's shares up as much as 10 percent.For the fourth quarter, the company expects revenue of $1.73 billion to $1.74 billion, just beating Wall Street's expectations for revenue of $1.72 billion, according to Thomson Reuters I/B/E/S.
The company, which supplies products to retailers like Wal-Mart Stores Inc, Target Corp and Bed, Bath and Beyond, also said it will accelerate stock buybacks by launching a tender offer for $500 million worth of Jarden stock.
Shares of the company, which sells everything from playing cards and cooking pots to storage containers and ski gear, rose as much 10 percent to $33.85 on Tuesday before paring some of those gains to trade at $33.06 on the New York Stock Exchange.
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