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Stock Market & Financial Investment News

News Breaks
July 17, 2014
10:55 EDTJAKK, MAT, LF, HASMattel 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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August 31, 2015
06:30 EDTJAKKDisguise and LEGO Group announces licensing agreement
Disguise, the Halloween costume division of toy manufacturer, JAKKS Pacific, announced that it has secured a licensing agreement with the LEGO Group to "construct" children's Halloween costumes, role play and accessories based on popular LEGO characters. The multi-year, multi-category agreement grants Disguise rights to distribute its LEGO licensed products across channels in North America, Europe, Korea and China. The LEGO costumes from Disguise are scheduled to be available at retailers in fall 2016.
August 26, 2015
10:11 EDTJAKKHigh option volume stocks
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August 25, 2015
17:16 EDTJAKKJAKKS Pacific: Court requires parties to provide notice of derivative settlement
JAKKS Pacific announced that the United States District Court for the Central District of California has authorized notice to be given to JAKKS' shareholders of the Court's preliminary approval of the previously disclosed settlement of Vladimir Gusinsky Living Trust v. Stephen Berman, et al. (f/k/a Advanced Advisors G. P. v. Stephen Berman, et al.) Case No. 2-14-cv-01420-JAK (SSx), a consolidated shareholder derivative action. The proposed settlement is subject to final Court approval, and the Court has set a final approval hearing for November 2, 2015, at 8:30 a.m. PT, in the courtroom of the Honorable John A. Kronstadt, United States District Judge. At the November 2, 2015 hearing, the Court will also hear a request from plaintiff's counsel for an award of attorneys' fees and expenses.
August 24, 2015
10:10 EDTHASHigh option volume stocks
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August 20, 2015
10:00 EDTLF, MAT, JAKK, HASOn The Fly: Analyst Initiation Summary
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August 19, 2015
18:34 EDTLFOn The Fly: After Hours Movers
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16:14 EDTMATMattel initiated with an Outperform at Oppenheimer
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16:14 EDTLFLeapFrog initiated with an Outperform at Oppenheimer
Target $3.
16:13 EDTJAKKJAKKS Pacific initiated with an Outperform at Oppenheimer
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16:12 EDTHASHasbro initiated with a Perform at Oppenheimer
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