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New York CNN —Millions of Miniverse toy sets made by toymaker MGA Entertainment have been recalled because they pose a serious risk of skin burn, eye and respiratory irritation when touched, inhaled or ingested, the US Consumer Product Safety Commission said Tuesday. The recall involves the “Make it Mini” sets which contain resins that, when liquid, can cause those injuries and irritations to young children and adults alike. The CPSC also found that the resins contain chemical compounds called “acrylates” in amounts that are prohibited in children’s products. The CPSC said MGA Entertainment has received 26 reports of incidents with the toy sets from children and adults, including reports of skin burns and irritation, and respiratory irritation, with one report that it triggered a case of asthma in the user. 21 million Miniverse toy sets are being recalled due to danger of skin burn, eye and respiratory irritation.
Persons: irritations, Multipack Organizations: New, New York CNN, toymaker MGA Entertainment, US Consumer Product Safety, MGA Entertainment, Consumer Product Safety, UPC, Target, Walmart, ALDI, Hobby, MGA Locations: New York, Canada
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
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The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.
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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMGA Entertainment CEO: Toy industry will be down 8-10% by the end of this yearIsaac Larian, MGA Entertainment founder and CEO, joins 'Squawk Box' to discuss his thoughts on a slowdown in toy spending this holiday season, the issues for the toymakers, and more.
Persons: Isaac Larian Organizations: MGA Entertainment
The holiday season, which begins with Black Friday at the end of November and lasts roughly until the end of December, is expected to be especially tough for retailers selling discretionary items, executives say. "We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season."
Persons: Peter Nicholls, Larian, Santa Claus, Barbie, Loo, Isaac Larian, Toymakers, Nic Aldridge, Aldridge, Mattel's, Steve Totzke, Florian Sieber, Simba, Sieber, Totzke, Frédérique Tutt, Jerry Storch, Richa Naidu, Matt Scuffham Organizations: REUTERS, Hasbro, Mattel, Consumers, Euromonitor, MGA Entertainment, Toymakers Hasbro, Reuters, Bandai, P, Global, Storch Advisors, Hudson's, Thomson Locations: London, Britain, Europe, Santa, United States, Loo Wee, U.S
"We are seeing some early Black Friday sales start just now," Barbie maker Mattel's (MAT.O) president and chief commercial officer, Steve Totzke, told Reuters on Monday. "The market for toys has been declining for the whole year," said Florian Sieber, CEO of German toy maker Simba. "We are expecting a good holiday season for Mattel," Totzke said. "We expect to continue to gain share throughout the holiday season." "But it's a reality that there won't be as many toys sold this year as last year."
Persons: Peter Nicholls, Larian, Santa Claus, Barbie, Loo, Isaac Larian, Toymakers, Nic Aldridge, Aldridge, Mattel's, Steve Totzke, Florian Sieber, Simba, Sieber, Totzke, Frédérique Tutt, Jerry Storch, Richa Naidu, Matt Scuffham Organizations: REUTERS, Hasbro, Mattel, Consumers, Euromonitor, MGA Entertainment, Toymakers Hasbro, Reuters, Bandai, P, Global, Storch Advisors, Hudson's, Thomson Locations: London, Britain, Europe, Santa, United States, Loo Wee, U.S
MGA Entertainment tapped Kylie Jenner to create six collectible mini Bratz in her likeness. Loyal Bratz fans have questioned the brand's choice to partner with Jenner. Bratz tapped Kylie Jenner for its first-ever celebrity doll since the brand's debut 2001 debut. "This is a seminal moment in Bratz history to join forces with Kylie Jenner as the brand's first-ever celebrity collaboration," Bratz creative director Jasmin Larian said in the release. Bratz dolls dominated the toy industry in its first five years, grossing $2 billion in sales in their first five years on shelves.
Persons: Kylie Jenner, Jenner, Jasmin Larian, Kylie, Yasmin, I've, Jen, hou, tim e Organizations: MGA Entertainment, Service Locations: Wall, Silicon
All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.
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The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
LONG BEACH, Calif., Feb 27 (Reuters) - Collapsing ocean shipping rates are not all good news for U.S. retailers, who paid as much as $20,000 to move a container of goods during the worst pandemic disruptions, as they now are bracing for delays due to plummeting demand. dolls to the short-term spot market from the long-term contract market. Volatile spot rates were the first to plummet when pandemic-weary consumers shifted spending from goods to travel and entertainment. Previously loyal customers are aggressively comparison- shopping, spreading their business around and gambling on the spot market, experts said. This time around, importer and exporter shipping managers, whose costs exploded when they were unexpectedly forced into the sky-high spot market, have the upper hand.
Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.
Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Last year's losing market created a new host of buying opportunities for long-term value investors across different sectors, Oakmark Funds' Bill Nygren said Thursday. In the energy sector, Oakmark opted to keep positions in APA , Conocophilips and Dominion Energy , which have more non-earning assets, Nygren said. The portfolio manager then used the cash to buy Canadian auto parts manufacturer Magna International . It is a single-digit price-to-earnings stock that fell to around $60 from $100 at its high, Nygren said. MGA 1Y mountain Magna International "We think they're under earning today because of supply chain problems," Nygren said.
Cramer's lighting round: Magna worries me
  + stars: | 2022-12-20 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
Loading chart...Magna International Inc : "MGA worries me. I would rather own an auto company directly. They're very inexpensive." Loading chart...Roblox Corp : "Roblox is too expensive. ... Not making money, too."
It’s an important moment for the toy industry, too, with the holiday season upon us. “The definition of adulthood has definitely evolved,” said Jeremy Padawer, chief brand officer at toy company Jazwares. Toy companies have even begun creating their own television and movie content in order to support toy lines. Still, the stakes remain high for the toy industry as it heads into the final weeks of the year. “Right now, adult toy buyers are the reason for growth in the toy business,” Larian said.
New York CNN Business —The holidays are rapidly approaching, and for the toy company Hasbro, a slowing economy could be a proverbial Grinch that steals Christmas. Before joining Hasbro, Cocks was an executive at Microsoft (MSFT) from 1999 through 2006 and 2008 through 2016. Cocks said Hasbro is investing “significantly” in digital toys, particularly digital versions of classic Hasbro board games like “Monopoly” and “Scrabble” as well as D&D and the company’s “Magic: The Gathering” game. It’s definitely been a boon for the game,” Cocks said. “If there’s a couple of truisms in life, there’s death, there’s taxes, and there’s parents wanting to have a great holiday for their kids.”
The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Melon Doris , 73, an architectural designer living in Beaufort, S.C., on her 1962 MG MGA 1600 Mk II, as told to A.J. In 1968, I graduated from the Fashion Institute of Technology in New York. I always loved cars, even though no one in my family knew anything about them. He taught me to drive in that car. I was living in Brooklyn, and I needed a car to get to my first job on Long Island.
CNN —Amir Malik is a man in love with golf. Amir Malik (L) is passionate about golf. Malik believes Muslim women in the UK are being held back from participating in more sports because of a lack of all-female facilities and sessions. Muslim Golf Association‘The golf course doesn’t discriminate’To date, MGA events have attracted over 1,300 participants. Muslim Golf AssociationWhile Malik hopes to soon see Muslim players competing on professional tours, he says he did not form the MGA to produce a Muslim Tiger Woods.
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