As previously reported, Wells Fargo analyst Sam Reid downgraded Spectrum Brands to Market Perform from Outperform, calling the company's Q2 results "exceptionally disappointing" and expressing concern that some of the issues in the quarter - including supply chain disruptions, freight and commodity inflation, pet recall effects and seasonal distortions - are becoming standard for Spectrum. Even given today's weakness, Reid urges investors to stay on the sidelines until the company's operational consistency improves. He lowered his price target on Spectrum shares to $75 from $112.