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Stock Market & Financial Investment News

News Breaks
April 17, 2014
12:59 EDTHAS, MAT, LFMattel falls after reporting lower Q1 international, North American sales
Shares of global toy manufacturer Mattel (MAT) are falling after the company reporting lower than expected first quarter earnings and revenue. WHAT'S NEW: Mattel reported a Q1 loss per share of 3c, which was far below analysts' consensus of a 9c gain. The company reported Q1 revenues of $946.2M, which was lower than analyst projections of $953.92M. Mattel reported that its Q1 international sales were down 7% and that its North American sales were down 2%. CEO Brian Stockton said that the retail environment during the quarter was "challenging" and that its Q1 revenues were in-line with the company's expectations. WHAT'S NOTABLE: On slides from the company's Q1 earnings conference call, Mattel said that it foresees making progress on inventory clean-up, but says efforts will continue in the short term. The company maintains FY14 gross margins within the low-to-mid 50% range. For FY14 SG&A activity, Mattel sees a modest increase in SG&A including severance and ongoing growth investments in FY14, but points out that this excludes the impact of the pending MEGA Brands acquisition. During Mattel's Q1 earnings conference call, the company said that it plans to continue to shift spending to the back half of the year and noted that this action will impact Q2 revenue slightly. The company said that it is working on ways to get a higher return on advertising spending. Mattel sees FY14 capital expenditures between $230M-$240M. Mattel said that it plans to fund expansion in strategic geographic locations and that it expects modest first quarter headwinds to continue in the second quarter. The company says that it is on track to achieve $150M in gross savings this year and sees its tax rate in FY14 to be between 21%-22%. OTHERS TO WATCH: Rival companies to Mattel include Hasbro (HAS) and LeapFrog (LF). PRICE ACTION: During afternoon trading, shares of Mattel are down 30c, or 0.79%, to $37.58.
News For MAT;HAS;LF From The Last 14 Days
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April 20, 2015
08:28 EDTHASHasbro targets operating cash flow of $500M on average per year
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08:27 EDTHASHasbro sees favorable product mix and low cost inflation in 2015
Seeds 2015 as a strong entertainment year consistent with 2014. Expects product development to be 5%-5.5% of revenue due to Disney Princess and Frozen Investments ahead of revenues. Targets advertising level consistent with last two years. Projects $44M in 2015 as additional assets becoming fully amortized. Expects to invest in content across mediums, primarily television expense. Expects FY15 interest expense is consistent with historical trends as % of revenues. Expects FY15 tax rate anticipated at 26.5%-27.5%. Comments taken from slides for Q1 earnings conference call.
08:11 EDTMATAutodesk, Mattel to bring 3D printing experience to Mattel toy line
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07:28 EDTMATMattel management to meet with B. Riley
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06:34 EDTHASHasbro reports Q1 US and Canada revenue $345.7M
Reports Q1 International revenue $305.7M; Reports Q1 Entertainment and Licensing revenue $60.6M. Reports Q1 Boys revenue $272.6M; Reports Q1 Games revenue $235.6M; Reports Q1 Girls revenue $117.1M; Reports Q1 Preschool revenue $88.1M.
06:33 EDTHASHasbro: Several factors helped mitigate negative impact of foreign exchange
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06:31 EDTHASHasbro reports Q1 adjusted EPS 21c, consensus 8c
Reports Q1 revenue $713.5M, consensus 660.27M
April 17, 2015
16:24 EDTMATOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session deep in negative territory and remained there throughout the day. The losses were broad based, with the S&P 500 losing 1% and the Dow and Nasdaq each sliding about 1.5%. There was little in the way of buying, as the number of declining stocks dwarfed the number of advancing stocks. Fears about Greece exiting the euro, steps taken by securities regulators in China and inflation data here at home were all pointed to as potential contributors to the down day in the market. The slide also coincided with the expiration of options, which can lead to volatility and heavy volume. ECONOMIC EVENTS: In the U.S., the headline Consumer Price Index rose 0.2% in March, versus expectations for it to be up 0.3%. The "core" rate, excluding food and energy prices, rose 0.2%, as expected. The leading economic index rose 0.2% to 121.4 in March, versus expectations for it to be up 0.3%. The University of Michigan consumer sentiment index jumped 2.9 points to 95.9 in the preliminary print for April, topping expectations for a 94.0 reading. In China, announcements by Chinese securities regulators, the Shanghai and Shenzhen stock exchanges, and related bodies raised fears of a selloff in China. The China Securities Regulatory Commission imposed sanctions to try to control margin buying of stocks with borrowed money and the Securities Association of China said it will allow fund managers to lend stocks for short selling to increase the supply of shares. In Europe, strategists reportedly said a lack of progress in negotiations between Greece and its creditors had substantially increased the risk of Greece defaulting on its debt and even exiting the euro. COMPANY NEWS: Shares of both Comcast (CMCSA) and Time Warner Cable (TWC) dropped after Bloomberg, citing sources, reported that lawyers at the Justice Departmentís antitrust division are leaning toward making a recommendation to file suit to block the companies' proposed merger. Spokespeople for Comcast and TWC reportedly told Bloomberg they see "no basis" for a lawsuit to block the transaction. Comcast ended the day down $1.25, or 2.09%, to $58.42, while Time Warner Cable shares slid $8.59, or 5.43%, to $149.61... First the Wall Street Journal, then Bloomberg, reported that Teva Pharmaceutical (TEVA) is internally discussing a potential takeover bid for Mylan (MYL). Shares of both moved higher following the reports, which Mylan responded to by stating that it is fully committed to its stand-alone strategy, including its proposal to acquire Perrigo (PRGO). Mylan Chairman Robert Coury said that rumors of potential interest from Teva have been "circulating for some time," but that such a combination is "without sound industrial logic or cultural fit" and would be unlikely to receive antitrust regulatory clearances. Coury added that Mylan's board would "carefully consider" a bid if any party makes an "actual offer" to acquire the company. Shares of General Electric (GE) reported a loss of $1.35 per share due to large charges related to its planned exit from the majority of its GE Capital business. Adjusting for special items, GE's operating earnings per share of 31c topped the consensus forecast by 1c. Additionally, GE said it has received "strong inbound interest" in its GE Capital assets following the company's April 10 investor update. MAJOR MOVERS: Among the notable gainers following their earnings reports were Celanese (CE), which rose $9.04, or 15.55%, to $67.18, and Mattel (MAT), which advanced $1.48, or 5.84%, to $26.75. Among the noteworthy losers after their quarterly reports were SerivceNow (NOW), which fell $9.55, or 11.53%, to $73.29, and Advanced Micro Devices (AMD), which dropped 29c, or 10.28%, to $2.58. INDEXES: The Dow declined 279.47, or 1.54%, to 17,826.30, the Nasdaq fell 75.98, or 1.52%, to 4,931.81, and the S&P 500 dropped 23.81, or 1.13%, to 2,081.18.
10:14 EDTMATOptions with decreasing implied volatility
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09:14 EDTMATOn The Fly: Pre-market Movers
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08:52 EDTMATMattel CEO says committed to dividends, sees maintaining at current level
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April 16, 2015
19:00 EDTMATOn The Fly: After Hours Movers
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18:56 EDTMATMattel announces partnership with Quirky
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16:12 EDTMATMattel trades up after results, levels to watch
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16:06 EDTMATMattel reports Q1 adjusted EPS (8c), consensus (9c)
Reports Q1 revenue $922.7M, consensus $896.54M.
15:23 EDTMATNotable companies reporting after market close
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11:43 EDTMATMattel management to meet with MKM Partners
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10:00 EDTMATOn The Fly: Analyst Upgrade Summary
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07:51 EDTMATMattel upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded Mattel to Outperform citing a favorable risk/reward following the recent underperformance of shares. Wells views the stock as an attractive value play, with downside protection given the potential for a leveraged buyout. It has a $28-$30 price target range for shares.
April 15, 2015
08:51 EDTMATMattel April volatility elevated into Q1 and outlook
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