Shares of Newell Brands Inc. showed a rare splash of green in a sea of red Thursday, after billionaire investor Carl Icahn said he has a stake in the company but has not yet decided which side to take in a pending proxy fight. Newell, which owns brands including Rubbermaid, Papermate and Elmer’s, is shaping up for a proxy fight with activist investor Starboard Value LP, which is seeking to replace the entire board and its chief executive. Icahn said on CNBC that he views the stock as undervalued, and has even mulled nominating his own board candidates, but decided not to. Newell management has said its board is currently comprised of “nine highly qualified and experienced directors, eight of whom are independent and all of whom areseasoned leaders.” The board is working to cut costs and reduce debt, while streamlining the company into nine operating units. Shares were up 3.5%, while the major indexes were sharply lower after President Donald Trump said he would impose tariffs on steel and aluminum imports, raising concerns of protectionists trade policies that could hit U.S. corporations and consumers. The Dow Jones Industrial Average was down more than 500 points, or 2%, and the S&P 500 was down 1.7%.