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Global play and entertainment company Hasbro, Inc. (NASDAQ: HAS) today announced a partnership with 343 Industries to introduce a range of officially licensed Halo® NERF blasters, including a first look at the NERF Halo MA40 Blaster and NERF Halo MicroShots assortment hitting shelves this fall in the U.S. and U.K.
The company exceeded its initial 2019 cost-cutting target of $650 million by 35% as Chief Executive Officer Ynon Kreiz looks to improve profitability through cutting jobs, closing manufacturing facilities and reducing products manufactured. Mattel now expects $50 million in savings in 2020 from a "capital light program", which includes the closure of four factories in Asia, Mexico and Canada, Kreiz told Reuters. Mattel reported an adjusted profit of 11 cents per share in the fourth quarter ended Dec. 31, racing past expectations of 1 cent, according to IBES data from Refinitiv.
Hasbro, Inc’s (NASDAQ: HAS ) fourth-quarter results were better than feared and the upcoming Toy Fair could provide more clarity around the company’s fiscal 2020 outlook, becoming a catalyst for the stock, ...
Health officials are cautiously optimistic that the slowdown over the last two days in the number of newly confirmed cases of COVID-19, the novel coronavirus that was first identified in late 2019 in Wuhan, China, may indicate that the virus is contained.
Star Wars and Frozen II toy sales helped Hasbro beat earnings expectations in the fourth quarter. That sent shares sharply higher at the start of trading on Tuesday, but by midday the gains had shrunk considerably.
The movie business is great business for Hasbro as a surge in sales of all things 'Frozen 2' and 'Spider-Man' boosts earnings - and its stock. Here's why.
(Bloomberg) -- Hasbro Inc. posted earnings that topped analysts’ estimates as toys based on Frozen 2 and Star Wars helped it overcome the fallout from President Donald Trump’s trade war with China. The shares jumped the most in almost seven months.Excluding some items, profit of $1.24 a share far outpaced the 88-cent average projection. Revenue rose 3% to $1.43 billion, the Pawtucket, Rhode Island-based toymaker said Tuesday. That was shy of estimates for $1.44 billion.Hasbro has bounced back after the threat of tariffs weighed on the third quarter, disrupting the company’s supply chain and leading some retailers to cancel shipments. It has been working to diversify its supply chain to reduce its reliance on sourcing in China.On an earnings call with analysts Tuesday, Chief Financial Officer Deborah Thomas said the coronavirus has disrupted Hasbro’s supply chain and commercial operations in China. She said the impact on its business to date is small, though it’s difficult now to quantify the potential magnitude.Shares of Hasbro rose as much as 8.5% to $109.50 in New York, the biggest intraday gain since July. The stock had dropped 4.5% this year through Monday’s close after advancing 30% last year.Revenue in the entertainment, licensing and digital segment rose 22% last year. Hasbro recently completed a $4 billion, all-cash purchase of British production and distribution company Entertainment One Ltd., giving it access to new content with brands like Peppa Pig and PJ Masks.Magic: The Gathering Arena and the Transformers: Bumblebee film helped drive entertainment and licensing revenue. Analysts forecast Hasbro bested its rival Mattel Inc. over the holiday season, with a strong showing from Frozen and Star Wars branded products.(Updates share performance in first and fifth paragraphs.)\--With assistance from Janet Freund.To contact the reporter on this story: Kelly Gilblom in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Lisa Wolfson, Jonathan RoederFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Benzinga Pro's Stocks To Watch For Tuesday DISH Network (DISH) - The stock was up more than 5% amid a report a U.S. judge will rule in favor of a Sprint (S) , T-Mobile (TMUS) merger on Tuesday. With ...
Hasbro (HAS) delivered earnings and revenue surprises of 39.33% and -1.72%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Hasbro jumps on better-than-expected fourth-quarter earnings, driven by sales of its 'Frozen 2,' 'Avengers' and 'Spider-Man' franchised toys, dolls and games.
Hasbro (NASDAQ: HAS ) reported fourth-quarter earnings of $1.24 per share on Tuesday, which beat the analyst consensus estimate of 91 cents by 36.26%. This is a 6.77% decrease over earnings of $1.33 per ...
Shares of Hasbro Inc. surged 5.1% toward a 4-month high in premarket trading Tuesday, after the toy seller reported a fourth-quarter profit that was well above expectations, while revenue came up a bit short. Net income increased to $267.3 million, or $2.01 a share, from $8.8 million, or 7 cents a share, in the year-ago period. Excluding non-recurring items, such as a one-time currency gain from hedging activities as part of the eOne acquisition, adjusted earnings per share came to $1.24, beating the FactSet consensus of 90 cents. Revenue rose 3% to $1.43 billion, boosted by "strong demand" for Disney's "Frozen 2" and "Star Wars" products, but was below the FactSet consensus of $1.44 billion. For 2019, partner brands revenue, which includes sales of "Frozen 2," "Avengers," "Spider-Man" and "Star Wars" products, rose above expectations, while franchise brands and Hasbro gaming revenue fell below expectations. The stock has gained 5.6% over the past three months through Monday, while the S&P 500 has advanced 8.6%.
Hasbro (NASDAQ: HAS ) announces its next round of earnings this Tuesday, February 11. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Earnings and Revenue Wall Street ...
Waning fears over the coronavirus outbreak spurred buying on Wall Street Tuesday, sending the S&P 500 and Nasdaq into fresh record territory. But the Dow finished flat. China's top medical advisor said the outbreak may be peaking and WHILE Fed Chair Jerome Powell cited the potential threat from the coronavirus in testimony before Congress, HE gave otherwise fairly upbeat remarks about the U.S. economy. William O'Neil & Co. chief investment strategist, Randy Watts: SOUNDBITE: WILLIAM O'NEIL & CO. CHIEF INVESTMENT STRATEGIST, RANDY WATTS (ENGLISH) SAYING: "We worry that the number of cases is still understated in China. And one of the reasons for that is the incubation period takes so long with this disease. So I think it's a little bit early to say it's peaked." Shares of Sprint catapulted higher. A U.S. judge approved T-Mobile US' purchase of the wireless carrier. T-Mobile shares also rose. Shares of Hasbro fell. Quarterly profit soared on the strength of sales of toys from Disney's film franchises Star Wars and Frozen. But it warned the coronavirus could impact first quarter results. But Under Armour tumbled. The sports apparel maker surprised Wall Street with its forecast calling for a drop in profit this year. It blamed weakness in the North American market and the coronavirus outbreak in China.
BROADCAST AND DIGITAL RESTRICTIONS~** Broadcasters: FOR "STAR WARS: THE MANDALORIAN," MUST COURTESY WALT DISNEY PICTURES/NO ARCHIVE/NO RESALES; FOR "STAR WARS: THE RISE OF SKYWALKER," MUST COURTESY WALT DISNEY PICTURES/LUCASFILM WITH NO ARCHIVE/NO RESALES Digital: FOR "STAR WARS: THE MANDALORIAN," MUST COURTESY WALT DISNEY PICTURES/NO ARCHIVE/NO RESALES; FOR "STAR WARS: THE RISE OF SKYWALKER," MUST COURTESY WALT DISNEY PICTURES/LUCASFILM WITH NO ARCHIVE/NO RESALES Toy maker Hasbro - capitalizing on Disney's smash-hit movies - made a quarterly profit that crushed expectations, as kids snapped up Frozen dolls and Star Wars figurines over the holiday season. Revenue from the unit that produces licensed products from those films shot up nearly 50%. The latest installment in the Star Wars series, "The Rise of Skywalker," has grossed over $1 billion worldwide, boosting demand for Hasbro's toys featuring the droids, stormtroopers and lightsabers from the movie. Among the company's top sellers: pre-orders for Baby Yoda drove sales for figurines from the new Star Wars-based TV series, the Mandalorian. Also helping lift Hasbro's bottom line: a big cut in ad spending that lowered costs. On a conference call with analysts, Hasbro said the impact of the coronavirus outbreak ravaging China is currently small... but warned that its first quarter results could be affected. China is a major manufacturer for toymakers like Hasbro. Hasbro shares rose in early trading Tuesday. Its results also enticed investors to snap up shares of archrival Mattel, which reports its results after the market close on Thursday. ------------ Disney's holiday movies worked their magic on Hasbro. The toy maker's quarterly profit surged and revenue rose, as kids snapped up toys based on Disney's hit Frozen and Star Wars franchises. Revenue from the unit that produces licensed products from those films shot up nearly 50%. The latest installment in the Star Wars series, "The Rise of Skywalker," has grossed over $1 billion worldwide, boosting demand for Hasbro's toys featuring the droids, stormtroopers and lightsabers from the movie. Among the company's top sellers: pre-orders for Baby Yoda from the new Star Wars-based TV series, the Mandalorian. Also helping lift Hasbro's bottom line: a big cut in ad spending that lowered costs. Hasbro shares rose sharply in early trading Tuesday. Its results also enticed investors to snap up shares of archrival Mattel, which reports its results after the market close on Thursday.