139.61 -0.56 (-0.40%)
Before hours: 8:46AM EDT
|Bid||139.97 x 800|
|Ask||140.13 x 1000|
|Day's Range||138.79 - 140.47|
|52 Week Range||81.74 - 140.47|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||7.02%|
|Beta (5Y Monthly)||1.21|
|Expense Ratio (net)||0.13%|
Shares of Hasbro Inc. dropped 3.2% in premarket trading Monday, after the toy maker reported an adjusted second-quarter profit and revenue that missed expectations, as the COVID-19 pandemic has led to temporary store closures, product shortages and lower retail inventory. The company swung to a net loss of $33.9 million, or 25 cents a share, from net income of $13.4 million, or 11 cents a share, in the year-ago period. Excluding non-recurring items, such as acquisition-related and severance charges and cost-saving initiatives, adjusted earnings per share was 2 cents, below the FactSet consensus of 22 cents. Revenue fell to $860.3 million from $984.5 million, or declined 29% on a pro forma basis, to miss the FactSet consensus of $985.5 million. Franchise brands revenue fell 35% to $376.8 million, missing the FactSet consensus of $507.6 million, and partner brands revenue dropped 35% to $138.2 million to miss expectations of $174.2 million, but Hasbro brands revenue rose 11% to $137.0 million to beat expectations of $125.9 million. Within Hasbro brands, consumer point of sales increased in the high-single digits percentage range. The company said nearly all of its partner factories and warehouses are now open. The stock has dropped 26.5% year to date through Friday, while the SPDR Consumer Discretionary Select Sector ETF has gained 8.1% and the S&P 500 has slipped 0.5%.
Traders may benefit from sector rotation, focusing their current efforts in the technology and consumer discretionary sectors.
Technology stocks resumed a run to all-time highs on Monday, with the Nasdaq Composite, marking a fresh closing record, ahead of a clutch of corporate results from some of the biggest titans of technology and tech-related companies that have helped the broader market to stage a miraculous rebound from the depths of the coronavirus lows put in back in March. Investors await earnings from corporations including Microsoft , , Intel and International Business Machines among a parade of names reporting that could offer greater insight about the economic outlook as American corporations contend with the worst pandemic in more than 100 years. The Nasdaq Composite Index closed up 2.5% at around 10,767, marking the tech-heavy index's best day since April 29 and its 28th record close of the year. The S&P 500 index finished 0.8% higher at about 3,252. However, only three of the benchmark's sectors finished in positive territory, led by consumer discretionary shares , gaining 3.1%, technology , rising 2.6%, and communication services , up 1.3%. The Dow Jones Industrial Average ended the session virtually unchanged at about 26,681. The moves come as the U.S. coronavirus case tally rose to 3.77 million on Monday and its death toll topped 140,000, as new infections continued to surge in the South and West. Markets appeared to be heartened somewhat by upbeat news of vaccine candidates for the novel strain of coronavirus from AstraZeneca and the University of Oxford and a partnership between Pfizer Inc. and BioNTech .