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Stock Market & Financial Investment News

News Breaks
April 17, 2014
12:59 EDTMAT, LF, HASMattel 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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January 27, 2015
07:29 EDTMATMattel may look outside company, industry for new CEO, WSJ says
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January 26, 2015
11:15 EDTMAT, HASMattel cash should be sufficient to cover dividend, says Wells Fargo
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10:19 EDTMATHigh option volume stocks
High option volume stocks: OIL NFX ABB FXCM SANM EL MAT AGO NPSP SSTK
09:47 EDTMATMattel falls, levels to watch
Shares are trading lower by over 5% at time of writing, last at $26.56. That price is off the earlier low of the session at $24.88 which is now support. Resistance is at $28.04, the prior session closing price.
09:23 EDTMAT, HAS, LFMattel drops after CEO resigns, Q4 results miss expectations
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09:07 EDTMATMattel sees FY14 EPS with items $1.45, consensus $1.92
For FY14, the company reported preliminary EPS $1.45, which includes a negative impact of 16c per share from MEGA Brands acquisition and integration costs and a tax benefit of 13c per share. Reports preliminary FY14 worldwide net sales $6.02B, down 7%, including an unfavorable impact from changes in currency exchange rates of 2 percentage points.
09:05 EDTMATMattel reports preliminary Q4 EPS with items 44c, consensus 92c
Q4 preliminary results includes a negative impact of 5c per share from MEGA Brands integration costs and a negative tax impact of 3c per share. Reports preliminary Q4 worldwide net sales $1.99B, down 6%, including an unfavorable impact from changes in currency exchange rates of 3 percentage points. Consensus $2.12B. Q4 gross margin decreased by 410 basis points of net sales to 50.4%, which was partially due to the acquisition of MEGA Brands.
09:03 EDTMATMattel announces resignation of chairman and CEO Bryan Stockton
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09:02 EDTMATMattel names Christopher Sinclair as chairman, interim CEO
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January 23, 2015
16:32 EDTLFOn The Fly: Closing Wrap
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10:07 EDTLFHigh option volume stocks
High option volume stocks: CE TSM RYAM NOC SNE FXCM LBTYA TKMR LF STT
10:02 EDTLFOn the Fly: Analyst Downgrade Summary
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09:21 EDTLFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Infinera (INFN), up 13.2%... E-Trade (ETFC), up 5.6%... Starbucks (SBUX), up 5%... ResMed (RMD), up 3.2%. ALSO HIGHER: IVUS (VVUS), up 6.2% after being initiated with an Outperform at RBC Capital... Vitae Pharmaceuticals (VTAE), up 12.3% after 3M share Secondary priced at $11.90... lululemon (LULU), up 3.5% after being upgraded to Overweight from Neutral at JPMorgan. DOWN AFTER EARNINGS: Kimberly Clark (KMB), down 4.6%... Bank of New York Mellon (BK), down 2.1%... Altera (ALTR), down 4.4%... Kansas City Southern (KSU), down 3.3%... McDonald's (MCD), down fractionally. ALSO LOWER: LeapFrog (LF), down 32.8% after reporting preliminary third quarter results and withdrawing fiscal 2015 guidance... Molycorp (MCP), down 10.7% after being downgraded to Neutral from Buy at DA Davidson... Dreamworks (DWA), down 12% after announcing that it will cut 500 jobs, reduce films released per year, and seeing a $55M charge for 'The Penguins of Madagascar' and 'Mr. Peabody and Sherman'... Otonomy (OTIC), down 1.8% after secondary increased to 2.55M shares, priced at $29.25.
07:26 EDTLFLeapFrog downgraded to Neutral from Buy at Monness Crespi
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January 22, 2015
18:34 EDTLFLeapFrog withdraws guidance for FY15
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18:31 EDTLFLeapFrog CFO sees Q4 sales declining
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18:28 EDTLFLeapFrog reports preliminary Q3 EPS ($1.77), consensus 19c
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January 20, 2015
06:06 EDTHASDreamWorks planning to lay off 'substantial' number of staff, LA Times reports
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January 15, 2015
10:07 EDTHASHigh option volume stocks
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January 13, 2015
17:50 EDTMATMattel names new Chief Brands Officer, Chief Commercial Officer
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