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Stock Market & Financial Investment News

News Breaks
July 17, 2014
10:55 EDTLF, HAS, JAKK, MATMattel topples after Q2 earnings miss estimates
Shares of global toy product manufacturer Mattel (MAT), are toppling over after the company's second quarter earnings results fell below analysts' consensus. WHAT'S NEW: Mattel's reported Q2 earnings per share of 8c, which was not comparable to a consensus of 18c since the company said its EPS number included a tax benefit of 11c per share and a negative impact of 7c per share of MEGA Brands acquisition and integration costs. Excluding both of these items, EPS was 3c per share. Mattel's Q2 revenue was $1.06B, which missed analysts' consensus estimates of $1.19B. For Q2, the company reported that its Girls and Boys Brands sales were down 13%, Fisher-Price Brands sales were down 17%, American Girl Bands revenue was up 6% and revenue from its Construction and Arts & Crafts Brands was $61.6M. WHAT'S NOTABLE: During its earnings conference conference call, Mattel said that it plans to increase advertising spending in the second half of the year to build momentum for key brands. It sees improving global trends in point-of-sale but says the company still has a lot of work to do to improve those trends. As Mattel looks to the third quarter, it sees continued challenges from current headwinds. With the MEGA brands deal now closed, the company aims to improve profitability of MEGA brands on a global basis and believes the acquisition will be accretive to earnings in fiscal year 2015. It expects lower international sales and is investing heavily in markets in Russia and China. Mattel is looking to maintain gross margins in the low to mid-50% range in near term. It noted that it aims to achieve a modest increase in SG&A due to severance and ongoing growth investments, excluding the MEGA Brands acquisition. Inventory fair value adjustment related to existing MEGA Brands-owned inventory should wind down in Q3, the company said. Amortization is expected to decrease to $17M in 2015 and $9M in 2016. PRICE ACTION: Shares of Mattel are down $2.31, or 5.92%, to $36.72 in morning trading. OTHERS TO WATCH: Mattel peer Hasbro (HAS), which reports quarterly earnings on July 21, is relatively flat at $52.59. JAKKS Pacific (JAKK) is up almost 1.5% to $8.20 and and LeapFrog (LF) is up 3.02% to $7.66.
News For MAT;HAS;LF;JAKK From The Last 14 Days
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March 4, 2015
17:33 EDTLFLeapFrog Principal Accounting Officer Sarah Mason to resign, effective March 20
On February 27, Sarah Mason, Corporate Controller and Principal Accounting Officer of LeapFrog Enterprises, notified the company that she is resigning, effective March 20.
March 2, 2015
06:31 EDTJAKKJAKKS Pacific announces licensing, master toy agreement for Smurfs franchise
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February 26, 2015
10:00 EDTJAKKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ASUR Airports (ASR) upgraded to Sector Perform from Underperform at Scotia Capital... AcelRx (ACRX) upgraded to Buy from Neutral at Mizuho... AllianceBernstein (AB) upgraded to Buy from Neutral at BofA/Merrill... American Express (AXP) upgraded to Buy from Hold at Deutsche Bank... Argus upgraded Sonoco (SON) on multiple positive catalysts... Columbia Property (CXP) upgraded to Neutral from Sell at Goldman... Deutsche sees American Express (AXP) as undervalued, upgrades to Buy... Eldorado Gold (EGO) upgraded to Neutral from Sell at Goldman... Genesee & Wyoming (GWR) upgraded to Buy from Neutral at BofA/Merrill... Gruma (GMK) upgraded to Overweight from Equal Weight at Barclays... Isle of Capri (ISLE) upgraded to Outperform from Neutral at Macquarie... JAKKS Pacific (JAKK) upgraded at B. Riley... QTS Realty Trust (QTS) upgraded to Buy from Hold at Deutsche Bank... Sonoco (SON) upgraded to Buy from Hold at Argus... T-Mobile (TMUS) upgraded to Buy from Neutral at Citigroup... Vulcan Materials (VMC) upgraded at RBC Capital.
08:58 EDTJAKKJAKKS Pacific upgraded at B. Riley
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06:49 EDTJAKKJAKKS Pacific upgraded to Buy from Neutral at B. Riley
February 25, 2015
06:05 EDTJAKKJAKKS Pacific sees Q1 EPS (47c)-(44c), consensus (66c)
Sees Q1 revenue $101M-$103M, consensus $96.06M. Sees Q1 EBITDA ($2.8M)-($2.2M).
06:03 EDTJAKKJAKKS Pacific sees FY15 EPS 71c-75c, consensus 66c
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06:02 EDTJAKKJAKKS Pacific reports Q4 EPS 11c, consensus 7c
Reports Q4 revenue $254.0M, consensus $198.79M.
February 20, 2015
10:01 EDTHASOn The Fly: Analyst Downgrade Summary
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05:45 EDTHASHasbro downgraded to Equal Weight from Overweight at Barclays
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February 19, 2015
09:22 EDTJAKKJAKKS Pacific new toys impressive, says BMO Capital
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09:15 EDTHASHasbro new products 'stellar,' says BMO Capital
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