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[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

Shares of the California-based toymaker fell about 4% in extended trade, after it also missed quarterly sales estimates for the first time since March 2020. Earlier this month, Hasbro Inc (HAS.O) tempered its full-year revenue outlook and warned that demand was starting to slip ahead of the festive season. Mattel, meanwhile, expects demand to accelerate during the crucial holiday shopping season, but said it would conduct more promotions to remain competitive. Kreiz said in an earnings call Mattel has not seen any "meaningful impact" on consumer demand for its toys from the price increases it has undertaken. Reporting by Uday Sampath and Ananya Mariam Rajesh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Shares of the California-based toymaker fell about 4% in extended trade, after it also missed quarterly sales estimates for the first time since March 2020. Earlier this month, Hasbro Inc (HAS.O) tempered its full-year revenue outlook and warned that demand was starting to slip ahead of the festive season. Mattel, meanwhile, expects demand to accelerate during the crucial holiday shopping season, but said it would conduct more promotions to remain competitive. However, excluding items, the company earned 82 cents per share, beating estimates of 74 cents. Reporting by Uday Sampath and Ananya Mariam Rajesh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Toymaker Mattel cuts annual profit forecast as inflation drags demand
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: +1 min

The Mattel sign is pictured at the Nuremberg International Toy Fair, Jan. 29, 2014, in Nuremberg, Germany. Mattel Inc cut its annual profit forecast on Tuesday and said it would ramp up promotions heading into the busy holiday season, as price hikes discourage inflation-hit Americans from spending on its Barbie dolls and action figures. Mattel, meanwhile, expects demand to accelerate during the crucial holiday shopping season, but said it would conduct more promotions to remain competitive. Mattel reduced its 2022 adjusted profit forecast to between $1.32 and $1.42 per share from $1.42 to $1.48 earlier, but its raised prices helped the toymaker post adjusted gross margin of 48.3% in the third quarter, compared with last year's 47.8%. The Fisher-Price toys maker reiterated its forecast for full-year sales.

☆ Toymaker Mattel agrees to pay $3.5 million to settle SEC charges
▼ + stars: | 2022-10-21 | by ( Chris Prentice | ) www.reuters.com time to read: +2 min

WASHINGTON, Oct 21 (Reuters) - California-based Toymaker Mattel Inc (MAT.O) has agreed to pay $3.5 million to settle U.S. Securities and Exchange Commission (SEC) charges over financial misstatements in 2017, the agency said on Friday. Mattel, which makes Barbie and Fisher-Price toys, incorrectly reported its losses during the third and fourth quarters of 2017 due to tax reporting errors, the SEC said. The issue went uncorrected until November 2019 and the lack of internal control for financial reporting related to the error remained undisclosed. A spokesperson for Mattel, which did not admit or deny the SEC's findings, said the firm is pleased to have the matter behind it. He further failed to maintain auditor independence by advising Mattel's then-chief financial officer about who should be selected for a senior position at the company.

☆ Toymaker Mattel agrees to pay $3.5 million SEC fine for misstatements in 2017 earnings
▼ + stars: | 2022-10-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

Toymaker Mattel has agreed to pay a $3.5 million fine to settle charges related to misstatements in two quarters of earnings in 2017, the Securities and Exchange Commission announced Friday. The SEC said Mattel "violated numerous professional standards" by understating its tax-related valuation for the third quarter of 2017 by $109 million. Mattel's $109 million tax expense error went uncorrected until its November 2019 restatement. The SEC said Mattel did not admit or deny the findings of its probe. While we're not going to comment on the underlying facts, we appreciate the SEC's recognition of the company's remedial measures," a Mattel company spokesperson said Friday.

With this, Goldman Sachs wraps up earnings reports from big U.S. banks this quarter on a largely positive note. "A better-than-feared earnings season may well be the catalyst the market needs to see a break in the steady grind lower." Netflix (NFLX.O) added 2.4% ahead of reporting its earnings after markets close. The reversal of parts of a controversial UK fiscal plan that had roiled bond markets also aided sentiment. Toymaker Hasbro Inc (HAS.O) fell 1.3% upon posting a 28% fall in quarterly profit, highlighting that inflation-hit consumers were further discouraged by price hikes.

☆ Hasbro quarterly profit slumps as price hikes dent demand
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 18 (Reuters) - Toymaker Hasbro Inc (HAS.O) reported a 28% fall in third-quarter earnings on Tuesday as inflation-hit consumers were further discouraged by price hikes. Earlier in October, Hasbro cut its fiscal 2022 sales forecast, citing a stronger dollar and a slowdown in demand. "As expected, the third quarter is our most difficult comparison and was further impacted by increasing price sensitivity for the average consumer," Hasbro Chief Executive Officer Chris Cocks said. The company reported adjusted net earnings of $196.2 million, or $1.42 per share, in the third quarter ended Sept. 25, compared with $271.2 million, or $1.96 per share, a year earlier. Register now for FREE unlimited access to Reuters.com RegisterReporting by Granth Vanaik in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Hasbro revenue meets expectations but earnings miss as inflation squeezes shoppers
▼ + stars: | 2022-10-18 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Hasbro reported earnings Tuesday morning that fell below analysts' expectations as inflation weighed on consumers. The toy maker faced tough comparisons in the third quarter, but surging prices added to the pressure. Revenue fell 15% compared to the period last year, led by a 35% decrease in entertainment revenue. "Magic: The Gathering" is a digital and trading card game that has grown into the company's first $1 billion brand. The 30th anniversary of the game occurs in the fourth quarter of this fiscal year.

☆ Stocks making the biggest moves premarket: Johnson & Johnson, Goldman Sachs, fuboTV and more
▼ + stars: | 2022-10-18 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Here are the companies making headlines before the bell:Johnson & Johnson (JNJ) – Johnson & Johnson shares rose 1.4% in the premarket after beating top and bottom line estimates for the third quarter, helped by growth in pharmaceutical sales. Hasbro had cut its sales forecast earlier this month, noting increased consumer sensitivity to higher prices. Goldman Sachs (GS) – Goldman earned $8.25 per share for the third quarter, beating the $7.69 consensus estimate, while revenue topped Wall Street forecasts as well. XPO Logistics (XPO) - XPO issued a preliminary third-quarter sales forecast that was slightly below analyst estimates and would be its smallest quarterly sales since 2015. However, the transportation company also raised its profit forecast, and the stock rose 1.5% in premarket trading.

☆ Lego sales jump 17% in first half of 2022, boosted by Star Wars and Harry Potter sets
▼ + stars: | 2022-09-28 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Lego Star Wars toys sit on display inside a Toys "R" Us Inc. store in Paramus, New Jersey, U.S., on Tuesday, Nov. 26, 2019. Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter. On Wednesday, the privately held Danish toymaker said revenue during the first six months of the year jumped 17%, reaching $27 billion Danish krone, or about $3.5 billion. In addition to top-selling Star Wars and Harry Potter models, Lego has seen strong performance in its homegrown Lego Technic and Lego City. Net profit between January and June 30 reached $6.2 billion Danish krone, or about $802 million, essentially in line with year-earlier levels.

☆ How the dollar's record rally is hitting companies this earnings season
▼ + stars: | 2022-07-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

The dollar's record rally is wreaking havoc on some of the biggest companies in the world this earnings season. Morgan Stanley's Michelle Weaver said in a note to clients this week that the dollar's rally presents a headwind to earnings for U.S. companies, which make roughly 30% of sales abroad combined. Technology stocks are among the biggest behemoths so far to report headwinds from the dollar's strength this earnings season. Meanwhile, consumer discretionary names like Hasbro and Mattel are also feeling the pinch from the dollar's rally. While companies remain cautious going forward, some analysts and big investors also believe the dollar's rally has already shown signs that it's rolling over.

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