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Sealed Air (SEE) Stock Slumping on Mixed Q1 Results

NEW YORK (TheStreet) -- Shares of Sealed Air (SEE - Get Report) are diving by 7.14% to $48.91 on heavy trading volume on Thursday afternoon, following weaker-than-expected revenue for the 2016 first quarter.

Before today's market open, the Charlotte, NC-based packaging company reported revenue of $1.59 billion, lower than Wall Street's expectations of $1.61 billion.

Adjusted earnings of 50 cents per share surpassed analysts' estimates of 48 cents per share.

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Net sales fell by 8.9% on an as reported basis and 2.4% on a constant dollar basis from last...