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☆ Hasbro 2023 profit forecast disappoints as toy demand drops sharply
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Hasbro, Inc. logo is seen on the Star Wars Galactic Snackin Grogu toy in the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. Toy demand has typically remained resistant to economic uncertainties, but it fell sharply in the holiday season, with Hasbro rival Mattel Inc (MAT.O) earlier this month projecting 2023 profit below expectations. For Hasbro, Walmart accounted for around 13% of sales, while Target made up for roughly 8% of sales in 2021. The toymaker said it will take a nearly $300 million hit to 2023 revenue from the licenses and brands that it exited. Hasbro said it expects 2023 adjusted earnings in the range of $4.45 to $4.55 per share, well below analysts' average estimate of $4.88 per share, according to Refinitiv data.

☆ Hasbro 2023 forecasts disappoint as inflation hits toy demand
▼ + stars: | 2023-02-16 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] The Hasbro, Inc. logo is seen on the Star Wars Galactic Snackin Grogu toy in the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. The overall revenue is projected to be down low-single digits, while Wall Street analysts were expecting a 2.5% increase to $6 billion. "It's a cautious outlook...(but) what I'm most concerned about is that Hasbro doesn't lose sight of the consumer products segment," said James Zahn, Editor-in-Chief of trade magazine "The Toy Book". "Consumer products is what Hasbro is rooted in as a business." Hasbro expects 2023 adjusted per-share earnings in the range of $4.45 to $4.55 compared with estimates of $4.88 per share.

☆ Stocks making the biggest premarket moves: Tapestry, Credit Suisse, Disney and more
▼ + stars: | 2023-02-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading:Tapestry — The company reported adjusted fiscal second-quarter earnings before the bell of $1.33, beating StreetAccount's estimate of $1.27, and raised its fiscal 2023 earnings outlook. Hilton Worldwide — The hotel operator reported adjusted fourth-quarter earnings of $1.59 per share before the bell, topping estimates of $1.22, per StreetAccount. PepsiCo -- The beverage giant reported adjusted fourth-quarter earnings and revenue before the bell that beat expectations, thanks to price hikes that boosted sales. The company reported $380 million in revenue, below the $397 million expected from analysts, according to Refinitiv. However, the company posted a wider-than-expected loss of $1.53 per share, versus the $1.36 loss per share predicted by analysts.

☆ Google to soon add generative AI features in search results
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Benoit TessierSTOCKHOLM, Feb 8 (Reuters) - Google (GOOGL.O) said on Wednesday it would soon integrate artificial intelligence (AI) capable of generating text and other content in search results, as it battles to answer the challenge of Microsoft's (MSFT.O) popular AI chatbot ChatGPT. At a launch event in Paris on Wednesday, Google executive Prabhakar Raghavan said so-called generative AI would enable users to interact with information in "entirely new ways". "As we continue to bring generative AI technologies into our products, the only limit to search will be your imagination." Generative AI is used to make human-like creations through code, drawing on vast amounts of data to produce new pieces of text, video, or audio. Google said it would soon allow more developers and partners to test Bard.

☆ Mattel shares tumble after holiday season fails to boost sagging sales
▼ + stars: | 2023-02-08 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

The Mattel company logo is pictured during the inauguration of the expansion of the Montoi plant, in Escobedo, Mexico March 15, 2022. Barbie-maker Mattel posted fourth-quarter results after market close on Wednesday that came in well below Wall Street's expectations after disappointing holiday sales. The company had hoped that the "all-important holiday season" would be a potential buoy for sales as demand has slowed amid inflation. As it enters its 2023 fiscal year, Mattel is projecting adjusted earnings per share for the full year of between $1.10 and $1.20. The project is a part of Kreiz's larger strategy to transition Mattel from purely a toy manufacturer to a multi-segmented house of toy franchises.

☆ Goldman Sachs downgrades Funko, cites risks to toymaker's long-term growth plans
▼ + stars: | 2023-02-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Goldman Sachs thinks it's time to dump Funko 's stock as the toymaker has little room for error to execute its long-term growth plans. Analyst Stephen Laszczyk downgraded the stock to sell from neutral and set his price target to $8.50, presenting a 30% downside from Tuesday's close. Laszczyk added that other headwinds for Funko include continued pressure on its margins stemming from the company's limited execution on direct-to-consumer retail and international expansion. Funko shares have rallied 10.9% this year, though they are down 31.5% in the past 12 months. Laszczyk also downgraded Hasbro to neutral from buy, noting there's upside for the company, but not until it deleverages its balance sheet.

☆ Morning Bid: Chipped
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +5 min

A surge of 'soft landing' hopes for the U.S. economy on Thursday got sideswiped overnight after a dire industry readout from chipmaking giant Intel decimated its stock price after the bell. "We expect some of the largest inventory corrections literally that we've ever seen in the industry," he told Reuters later. Annual 'core' PCE inflation is expected to have slowed to 4.4% last month, the lowest in more than a year, from 4.7% in November. U.S. bonds of Adani firms also fell after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stocks making the biggest moves midday: American Express, Intel, Silvergate Capital and more
▼ + stars: | 2023-01-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Colgate-Palmolive — Shares fell more than 4% after Colgate-Palmolive released its latest earnings results. The guidance came even as the company reported earnings that beat on top and bottom lines. Visa — The payments stock rose by more than 2% after a better-than-expected fiscal first quarter. Analysts surveyed by Refinitiv had expected earnings of $2.01 per share on revenue of $7.7 billion. Net revenue rose 12% year over year, with total cross-border volume climbing 22%.

☆ Jim Cramer's top 8 things to watch in the market Friday: Intel sinks, Salesforce board shakeup
▼ + stars: | 2023-01-27 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Intel (INTC) catches multiple price target cuts on Wall Street after missing estimates with fourth-quarter earnings and revenue. Piper Sandler raises On Semiconductor (ON) price target to $85 per share from $75; keeps overweight (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Hasbro to cut 1,000 full-time jobs globally in 2023
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

Jan 26 (Reuters) - Hasbro Inc (HAS.O) said on Thursday it would eliminate about 1,000 positions from its global workforce this year, or about 15% of full-time employees, as the toymaker looks to cut costs in a tough macroeconomic backdrop. Shares of Hasbro fell 4% to $61.30 in after-hours trading. The company estimated fourth-quarter revenue of about $1.68 billion, down 17% from a year earlier. Hasbro said President and Chief Operating Officer Eric Nyman is also exiting the company as part of organizational changes. Reporting by Deborah Sophia in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves after hours: Intel, Visa, Hasbro and more
▼ + stars: | 2023-01-26 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Intel — Shares of Intel plunged 8.2% after the company reported earnings that missed on the top and bottom lines. The company reported adjusted earnings of 10 cents per share on $14.04 billion in revenue where analysts expected 20 cents per share on revenue of $14.46 billion, per Refinitiv. Visa — Visa shares rose 1.5% after the company reported an earnings beat. KLA Corporation — Shares of KLA Corporation, a semiconductor manufacturer, shed 4.9% even though the company reported earnings that beat analysts' expectations on the top and bottom lines, according to Refinitiv.

☆ Mattel is giving preschoolers an age-appropriate Barbie
▼ + stars: | 2023-01-12 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Mattel is giving preschoolers a new age-appropriate Barbie doll that it says is better suited for their needs. Mattel launched a new Barbie doll, called My First Barbie, specifcially designed for preschoolers. My First Barbie is larger, 13.5 inches tall versus 11.5 inches for the standard Barbie fashion doll. My First Barbie is bigger than the originally Barbie fashion doll and features a softer body. First introduced as Barbie Millicent Roberts in 1959, Mattel sold 300,000 Barbie dolls in the first year of her launch.

☆ Shopify launches new subscription product to lure big retail clients
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - Shopify Technologies Inc on Tuesday launched a new service aimed at big retailers that will allow them to select tools and services the Canadian tech giant offers and integrate it with their own online platform. Shopify, which helps businesses set up their online store and website for a subscription fee, will allow retailers to pick and choose components, such as checkout and other back-office services, for their existing online businesses. The pricing for the service, called Commerce Components, will depend on the retailer's customization and components they choose to use. Currently, subscription for Shopify Plus starts at $2,000 a month and basic costs of $29. Reporting by Nivedita Balu in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ Here's why 2023 could be another solid year for dividend stocks — and how to play it
▼ + stars: | 2022-12-23 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

Dividend stocks proved valuable for investors in a turbulent 2022, and many investment professionals are sticking with the group for next year. The SPDR Portfolio S & P 500 High Dividend ETF (SPYD) was down just about 1% for the year on a total return basis, easily outpacing the broader market. And with consensus expectations pointing to high interest rates and slow or even negative economic growth in 2023, dividend stocks could have quite a while left in the spotlight. Many major shops on Wall Street are bullish on dividend stocks in one form or another heading into 2023. Credit Suisse's strategist Andrew Garthwaite said in a note to clients that he was overweight dividend aristocrats, or stocks that have a long track record of growing their payouts. To be sure, investing in dividend stocks can be tricky during economic downturns, as falling profits can lead to dividend cuts or even suspensions.

ChatGPT — an artificial intelligence-powered chatbot — is having a viral moment, offering a high-profile glimpse at the maturing technology's capabilities. Like other GPT models, ChatGPT can generate text in a variety of styles and formats, including responses to questions, descriptions, and even entire conversations. The growth of Azure is central to our long-term investment thesis in Microsoft, and artificial intelligence is playing an increasingly prominent role in cloud computing. Additionally, Club holding Alphabet is no stranger to artificial intelligence — and, more specifically, machine learning. While all three models — ChatGPT, Sparrow and LaMDA — have their differences, they share a foundational network architecture known as Transformer.

☆ Hasbro CEO says inflation won't ruin Christmas but Wall Street is worried
▼ + stars: | 2022-11-23 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

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.”

☆ 'Krunchy Dream' welcomes Russian customers after Krispy Kreme exit
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Soon after Russia launched what it calls a "special military operation" in Ukraine, Krispy Kreme suspended all shipments of doughnut making supplies and ingredients to Russia and ended the agreement with its lone Russian franchisee. [1/3] A man walks past the Krunchy Dream cafe, which opened on the site of one of Krispy Kreme's cafes after the U.S. chain left the Russian market, in Moscow, Russia November 21, 2022. REUTERS/Evgenia Novozhenina 1 2 3A company owned by restaurateur Arkady Novikov, Krispy Kreme's former franchise partner, applied to register the Krunchy Dream trademark in late September, the RBC daily reported on Monday. Novikov Group and Krispy Kreme did not immediately respond to requests for comment. In a financial results statement in August, Krispy Kreme said it had closed 30 franchise shops in Russia.

Reuters GraphicsMelissa Benhaim, a 32-year old publicist in Miami, started her holiday shopping slightly later than usual this year. A Saturday shopping day between Thanksgiving and Christmas this year gives shoppers extra time to hold out for better bargains. Holiday shopping is expected to slow broadly. Reuters GraphicsBut toy prices, even with discounts, are up about 2.4%, DataWeave found. Shoppers are paying $16.99 for the toy this year at Kohl's, after discounts, compared to $11.54 last year, according to DataWeave.

☆ Hasbro looks to sell part of eOne TV production business
▼ + stars: | 2022-11-17 | by ( Joyce Lee | Soo-Hyang Choi | ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - Hasbro Inc (HAS.O) said on Thursday it is looking to sell part of its eOne production unit, which makes TV shows including "Yellowjackets" and "The Rookie", as the toymaker looks to streamline its business and focus on core brands. The company bought eOne, maker the popular children's TV show "Peppa Pig", for about $4 billion in 2019. Hasbro said Peppa Pig is not a part of the business that it is putting up for sale. Hasbro shares rose marginally in premarket trading. Reporting by Uday Sampath in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Hasbro looks to sell part of eOne TV business
▼ + stars: | 2022-11-17 | by ( Joyce Lee | Soo-Hyang Choi | ) www.reuters.com time to read: 1 min

Nov 17 (Reuters) - Toymaker Hasbro Inc (HAS.O) said on Thursday it is looking to sell part of its eOne TV and film production business. Reporting by Uday Sampath in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ First TVs, now tortillas: U.S. companies set minimum prices to halt discounting
▼ + stars: | 2022-11-17 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +4 min

read moreFor many years manufacturers set the lowest price at which retailers could advertise certain big-ticket items like TVs. read more As a result, consumers have struggled to find a lower advertised price anywhere else. This compels brands that sell huge volumes of goods on Amazon to set, and then enforce, a minimum price. "We have no role in creating them or in their continued adoption," the Amazon spokesperson said when asked about minimum advertised pricing policies. Amazon said in response that it does not prevent sellers from offering lower prices elsewhere.

The comments follow a softer-than-expected inflation report last week, which had buoyed hopes that the Fed could scale back its hefty interest rate hikes and helped drive a euphoric market rally. The S&P 500 in the previous session logged its biggest weekly percentage gain in about five months, while the tech-heavy Nasdaq (.IXIC) notched its best week since March. "The market is expecting the Fed to continue its hawkish rhetoric on rates. ET, the S&P 500 (.SPX) was down 17.25 points, or 0.43%, at 3,975.68, and the Nasdaq Composite (.IXIC) was down 115.13 points, or 1.02%, at 11,208.20. The S&P 500 information technology sector (.SPLRCT) was down 1.2% and among the leading sectoral decliners on the benchmark index.

☆ Jefferies says buy these quality 'fallen angels' trading near 10-year valuation lows
▼ + stars: | 2022-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

To find these so-called "fallen angels," the firm searched for quality names that have undergone a significant correction, trading down more than 25% from their 52-week highs. Despite slumping shares and valuations trading near 10-year lows, these names offer a 10% return on invested capital, and more than 15% return on equity over the next two years. Shares are also trading relatively cheap, at less than 20 times forward price-to-earnings and offer decent earnings momentum ahead. Shares trade at nearly 17 times forward earnings, Jefferies found. Shares trade at about 12 times forward earnings.

☆ Stocks making the biggest moves midday: Carvana, Meta, Palantir, Viatris, Walgreens and more
▼ + stars: | 2022-11-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Carvana — Carvana shares shed more than 15%, with trading briefly halted at one point due to volatility. Walgreens raised its fiscal year 2025 sales goal for its U.S. health-care business to $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion to account for the deal. Viatris — The global health-care company rallied 16% after it announced it intends to create an ophthalmology franchise by acquiring Oyster Point Pharma and Famy Life Sciences. The toymaker's shares shed nearly 60% last Friday after it delivered disappointing quarterly results and issued a weak forward guidance that included a fourth-quarter loss. DoorDash — Shares of the food delivery company rallied 2.5% after being upgraded by Oppenheimer to outperform from perform.

☆ JPMorgan downgrades toymaker Funko on disappointing earnings, uncertain future
▼ + stars: | 2022-11-04 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

There's uncertainty ahead for toymaker Funko , and investors should take note, according to JPMorgan. The firm downgraded shares of Funko to neutral from overweight and lowered its price target to $16 from $32. Funko reported earnings of 28 cents per share, while analysts expected 50 cents per share, according to StreetAccount. Funko shares traded 35% lower in the premarket. "We believe valuation will be handcuffed until there is more visibility on the earnings outlook (especially a small cap company)," said Alexander.

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