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February 11, 2013
07:37 EDTSHLD, MAT, JAKK, HAS, LFNeedham to host a reception
Toy Fair Cocktail Reception is being held in New York on February 11 at 4:30 pm hosted by Needham.
News For HAS;MAT;LF;JAKK;SHLD From The Last 14 Days
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September 30, 2015
09:52 EDTMATMattel volatility at 52-week high as shares trend to six-year low
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09:12 EDTSHLDSears volatility at low end of 52-week range
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September 29, 2015
13:24 EDTJAKKJAKKS Pacific announces cooperation agreement with Oasis Management
Jakks Pacific said in a regulatory filing, "On September 25, we entered into a Cooperation Agreement with Oasis Management Company Ltd. and, solely for purposes of Section 8(b) thereunder, Alexander Azim Shoghi, which provides, among other things, that we will nominate Mr. Shoghi, an employee of entities associated with Oasis, for election to our Board of Directors at our 2015 Annual Meeting, recommend that our stockholders vote to elect Mr. Shoghi at our 2015 Annual Meeting and use our reasonable best efforts to obtain the election of Mr. Shoghi at our 2015 Annual Meeting. Under the terms of the Cooperation Agreement, Oasis agreed to vote in favor of management's slate of nominees at such meeting. We also agreed not to increase the size of our Board of Directors above seven directors until our 2016 Annual Meeting. In addition, Oasis and Mr. Shoghi agreed that, if elected as a director, Mr. Shoghi will submit his resignation in the event that, during the Cooperation Period, Oasis' beneficial ownership of shares of our common stock decreases below 1,251,606 shares -- representing 5% of the 25,032,131 shares of our common stock outstanding as of the date of the Cooperation Agreement -- or if Oasis engages in any short sales of our shares. Oasis also agreed to abide by certain customary standstill restrictions during the Cooperation Period."
September 28, 2015
10:18 EDTSHLDJ.C. Penney rises after CEO meeting prompts upgrade
Shares of J.C. Penney (JCP) are rising in morning trading after a Sterne Agee CRT analyst upgraded the retailer to Buy with a $13 price target following a meeting with the company's new chief executive officer. WHAT'S NEW: Sterne Agee CRT analyst Charles Grom upgraded J.C. Penney this morning to Buy from Neutral with a $13 price target after recently spending time with new CEO Marvin Ellison at the company's headquarters. Grom said he came away from the meeting "more confident" in the company's turnaround plan, adding that Ellison has the "right demeanor" and business sense to lead the company and "right the ship." Ellison took over as CEO of the retailer on August 1, replacing previous CEO Myron "Mike" Ullman. Sterne's Grom said that while the firm has previously been critical of the retailer's strategy, he believes the initiatives, led by Ellison, are "refreshing" and could boost the company's EBITDA. Grom thinks Ellison is the right person to help revive J.C. Penney and believes the company can surpass its long-term EBITDA target of $1.2B by 2017, saying that this goal "may prove to be a floor rather than a ceiling." Additionally, the analyst sees "multiple levers" to drive same-store sales higher. Despite his optimism in J.C. Penney's recovery story, the analyst notes that U.S. consumer spending is shifting away from traditional items in department stores toward move service-oriented products, traditional mall traffic trends remain "suppressed" and weather trends across the U.S. in August and September were not "ideal" for mall-based retailers. WHAT'S NOTABLE: J.C. Penney recently named John Tighe as executive vice president and chief merchant, effective October 1. Tighe, most recently senior vice president and senior general merchandise manager for the men's, children's, footwear, handbag and intimate apparel divisions, will succeed Elizabeth "Liz" Sweney, the company said. On August 31, Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy from Hold and raised his price target on the stock to $12 from $10, calling the company a "self-help story." Trussell noted that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." OTHERS TO WATCH: Other department store operators include Macy's (M), Kohl's (KSS) and Sears Holdings (SHLD). PRICE ACTION: J.C. Penney is up 1.5% to $9.57 in morning trading and is up nearly 50% year-to-date.

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