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Morgan Stanley accompanied the move by cutting its price target to $100 from $120. His $185 price target, up from $160, forecasts that shares of Take-Two could rally 23% from Wednesday's close. — Lisa Kailai Han 5:55 a.m.: Bernstein initiates Ford at an outperform rating Investors who don't own Ford are missing out, according to Bernstein. — Lisa Kailai Han 5:55 a.m.: JPMorgan upgrades Hasbro Don't expect Hasbro's momentum to slow in the near future, according to JPMorgan. It also raised its price target on shares to $74 from $61, implying upside of 22%.
Persons: Bernstein, Morgan Stanley downgrades NetEase, Morgan Stanley, Alex Poon, Poon, Lisa Kailai Han, Omar Dessouky, Dessouky, — Lisa Kailai Han, Sam Poser, Sean Dodge, Dodge, GoodRx, Ford, Daniel Roeska, Roeska didn't, Roeska, Christopher Horvers, Fred Imbert Organizations: CNBC, Ford, JPMorgan, Hasbro, NetEase, Bank of America, Rockstar Games, Rockstar, Supreme, Corp, Trading, EMEA, Timberland, RBC, RBC Capital Markets, pharma, Kroger Locations: China, Wednesday's, Americas
Critical Role started off as a Twitch livestream, but it now mostly rolls out pre-recorded episodes. The crew returned to its chaotic roots to promote Daggerheart, a new game it created in-house. Daggerheart is positioned to be an answer to Hasbro's D&D — the game that CR became famous for playing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But while a March livestream was framed as a one-off event, the cast got back together on Tuesday night to promote their new game, Daggerheart.
Persons: Hasbro's, , livestream, Sam Riegel —, Matt Mercer's Organizations: CR, Service, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHasbro CEO: Toys will always be an important part of our businessHasbro CEO Chris Cocks joins 'Money Movers' to discuss Hasbro's recent strategic turnaround and what's clicking for the company.
Persons: Chris Cocks Organizations: Hasbro
Critical Role recently released "Candela Obscura," a gothic horror roleplaying game. These qualities make O'Brien ideal for stepping into the game master role for "Candela Obscura," Critical Role's new gothic horror game, and he's leaning hard into the tragedy. AdvertisementIt's also one of the more punishing gaming systems he's played in, O'Brien told during our video call. Mercer, the team's designated game master, is the one who crafts the narrative and controls how the story develops. "I always prefer complicated narratively satisfying endings to a neat little happy ending," O'Brien told me.
Persons: Liam O'Brien, , Matthew Mercer, O'Brien, I've, It's, he's, Twitch, Mercer, — O'Brien, — Taliesin Jaffe, Imari Williams, Aimee Carrero, Alexander Ward —, Taliesin Jaffe, Alexander Ward, Julius Caesar, Irish, Martin McDonagh, Spenser Starke, Rowan Hall, Aabria Iyengar, Starke, Mary Shelley, it's, Amazon, Marisha Ray, Travis Willingham, Ashley Johnson, Sam Riegel, Laura Bailey, Matthew Mercer Robyn von Swank Organizations: Service, Wembley, Darrington Press, Hasbro's, Hasbro, CR Locations: Europe, Ireland, New York, Mercer, Starke
Critical Role recently released "Candela Obscura," a gothic horror roleplaying game. AdvertisementIn October, Critical Role, a crew of eight self-professed "nerdy-ass voice actors," played their long-running "Dungeons & Dragons" game at a sold-out Wembley Arena. These qualities make O'Brien ideal for stepping into the game master role for "Candela Obscura," Critical Role's new gothic horror game, and he's leaning hard into the tragedy. AdvertisementIt's also one of the more punishing gaming systems he's played in, O'Brien told me during our video call. Mercer, the team's designated game master, is the one who crafts the narrative and controls how the story develops.
Persons: Liam O'Brien, , Matthew Mercer, O'Brien, I've, It's, he's, Twitch, Mercer, — O'Brien, — Taliesin Jaffe, Imari Williams, Aimee Carrero, Alexander Ward —, Taliesin Jaffe, Alexander Ward, Julius Caesar, Irish, Martin McDonagh, Spenser Starke, Rowan Hall, Aabria Iyengar, Starke, Mary Shelley, it's, Amazon, Marisha Ray, Travis Willingham, Ashley Johnson, Sam Riegel, Laura Bailey, Matthew Mercer Robyn von Swank Organizations: Service, Wembley, Darrington Press, Hasbro's, Hasbro, CR Locations: Europe, Ireland, New York, Mercer, Starke
The cast of Critical Role launched the open beta for their new gaming system, "Daggerheart," on Tuesday. Last year, people packed into a sold-out Wembley Arena to watch the eight-person cast of Critical Role play "Dungeons & Dragons." But on Tuesday night, they took a break from the game that made them famous and launched "Daggerheart," their answer to "Dungeons & Dragons." The previous edition's Open Game License, or OGL, allowed creators to publish and profit from work compatible with the game. It's possible to rebuild your "Dungeons & Dragons" characters in "Daggerheart," and the complex capabilities built into the game allow for extended narrative-driven campaigns.
Persons: they've, , Matthew Mercer, It's, it's, Travis Willingham, Willingham, there's, Elon Musk, Gizmodo Organizations: Twitch, Hasbro, Service, Wembley, Darrington Press, BI
Uber — Uber's shares jumped 11%, climbing to a new 52-week high, after the ride-hailing company announced an inaugural $7 billion share repurchase authorization program. The higher end of the company's full-year earnings per share guidance, $11.40, was also above estimates of $10.83 per share. On Tuesday, DaVita posted earnings of $1.87 per share, ex-items, on $3.15 billion in revenue. Robinhood Markets — Shares of the trading platform jumped 9% after the company posted a surprise earnings and revenue beat. Robinhood posted earnings of 3 cents per share, while analysts expected a 1 cent per share loss, according to LSEG.
Persons: Uber, Uber's, Lyft, IQVIA, Charles River, DaVita, FactSet, Robinhood, Zillow, LSEG, bitcoin, Energy rocketed, CleanSpark, Topgolf Callaway, Akamai, Kraft Heinz, Airbnb, CNBC's Hakyung Kim, Alex Harring, Jesse Pound, Pia Singh, Michelle Fox Organizations: Uber Technologies, Inc, IQVIA Holdings, Charles River Laboratories, Revenue, Miners, Energy, Marathon, MGM Resorts, Hasbro Locations: New York City, FactSet, LSEG, China, Macau, U.S, Detroit
Hasbro stock plunged 16% after it reported third-quarter earnings that missed analyst estimates. The toy company also lowered its revenue guidance, suggesting a weak holiday quarter ahead. Bank of America downgraded Hasbro to "Neutral" and said its Magic: The Gathering franchise is a victim of its own success. Hasbro stock is down 16% since it reported its earnings results on Thursday, and is down 37% since its early-September high. Bank of America downgraded Hasbro to "Neutral" and slashed its price target from $90 to $53.
Persons: , Jason Haas, Haas, We're, Tim Kilpin's Organizations: Hasbro, Bank of America, Service, Wizards, Coast, & Dragons
Shares of Hasbro and Mattel sank on Thursday, as both toymakers suggested sales will slow in the fourth quarter. The companies face challenges entering the critical fourth quarter, they said as they separately reported third-quarter earnings. Toys and games, products both Hasbro and Mattel are known for, could be on the chopping block this season as consumers watch their spending. Mattel's implied fourth quarter guidance on toy sales offered Wednesday also spooked Wall Street, despite its strong third-quarter results. Hasbro's revenue fell 10% for the quarter compared to the year-ago period, largely driven by decreases in its consumer and entertainment segments.
Persons: Chris Cocks, Mattel's Organizations: Hasbro, Mattel, Citi Research, LSEG, Lionsgate
REUTERS/Andrew Kelly/File photo Acquire Licensing RightsOct 26 (Reuters) - Hasbro (HAS.O) cut its annual revenue forecast for the second time this year on weak toy demand and joined Barbie-maker Mattel to warn of choppy holiday-quarter sales, sending its shares down 12% before the bell. The Monopoly maker expects 2023 revenue to tumble 13% to 15% compared to a prior forecast of a 3% to 6% decline. Its third-quarter revenue and profit also missed market expectations, with revenue from its core toy business dropping 18% as shoppers cut back on non-essential spending. Hasbro saw a 40% surge in digital and licensed gaming revenue on strong demand for its "Monopoly Go" and "Baldur's Gate III" games. Analysts have warned that uncertain holiday spend and softer toy demand could prompt retailers to keep supply tight and offer steep discounts to avoid a pile-up like last year.
Persons: FAO Schwarz, Andrew Kelly, Barbie, Chris Cocks, James Zahn, Savyata Mishra, Arun Koyyur Organizations: Hasbro, Inc, FAO, REUTERS, Mattel, Consumer Products, Thomson Locations: Manhattan , New York City, U.S, Bengaluru
Hasbro's third-quarter revenue performance missed Wall Street's expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors. Holiday shopping is traditionally a critical selling season for toy companies and can comprise a large portion of their annual toy sales. Rival Mattel Inc. had a better third quarter, reporting on Wednesday that its sales rose 9% in the period. Still, experts are pointing to toy industry sales being down for the year to date and the third quarter as a concern. Mattel Chairman and CEO Ynon Kreiz said during a conference call on Wednesday that the company anticipates the global toy industry will experience a mid single-digits decline in toy sales for the full year.
Persons: Barbie, Ynon Kreiz Organizations: Zacks Investment Research, Hasbro, Mattel Inc, Mattel Locations: Pawtucket, Rhode Island
A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. Here are some of the most overbought names: Sports apparel retailer Nike has a 14-day RSI of 81.89, and just under half of analysts covering the stock rate it a buy. Lockheed Martin is another one of the most overbought companies in the S & P 500. The U.S. defense contractor scored a 14-day RSI of 77.69, with a consensus price target implying 6.8% upside. Also on the oversold list is pharmaceutical company Moderna , which has a 14-day RSI reading of 15.5.
Persons: Piper Sandler, Lockheed Martin, Invesco, Jason Haas, Haas, — CNBC's Michael Bloom Organizations: Nike, Dow Jones, CNBC Pro, Insurance, Cardinal Health, Allstate, Humana, Investment, Hasbro, Wall, Bank of America, Monopoly, Moderna, Pfizer, FedEx Locations: U.S, Lowe's
To that effect, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. The analyst increased his price target for Verizon stock by $1 to $40, while maintaining AT&T's price target at $17. Also, he expects the prospects for improved free cash flow to lower net debt leverage and support the dividend payments. That said, with expectations of higher cash flow generation, Crum said that "the company should have more flexibility around growing its dividend going forward." (See Hasbro Stock Chart on TipRanks)Dell TechnologiesNext up is Dell (DELL), a maker of IT hardware and infrastructure technology, which rallied after its fiscal second-quarter results far exceeded Wall Street's estimates.
Persons: Hans Vestberg, Brendan McDermid, Wall, Michael Rollins, Rollins, MDT, Rick Wise, Geoff Martha, Wise, Drew Crum, Crum, TipRanks, Amit Daryanani, Daryanani, Dell Organizations: DELL, Verizon, New York Stock Exchange, Analysts, Verizon Communications, Citi, AT, Verizon Hedge, Hasbro, Dell Technologies, Dell, TipRanks, GPU, Walmart, &' $ Locations: New York, U.S
Hasbro sells its eOne film and TV unit
  + stars: | 2023-08-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHasbro sells its eOne film and TV unitCNBC's Julia Boorstin joins 'Power Lunch' to discuss Hasbro's decision to sell its film and TV units, the value of intellectual property in the entertainment industry, and Mattel's decision to expand its movie offering following the success of Barbie.
Persons: Julia Boorstin, Barbie Organizations: Hasbro
Bank of America thinks Hasbro's dominance in the in-person gameplay sector will be on full display when the company reports earnings on Thursday. The bank upgraded the stock to buy from neutral on Monday, and increased its price target to $85 from $68. "We spoke with several local game stores (LGS), distributors, players, and collectors and were encouraged to hear strong excitement and demand for this set," Haas said. "Collector boxes are currently fetching over $400 on the secondary market and TCGplayer, one of the primary online marketplaces for Magic cards, shows nearly 3x more sell-through than the prior Magic set." HAS YTD mountain Hasbro stock has been little changed from the start of 2023.
Persons: Jason Haas, Haas, — CNBC's Michael Bloom Organizations: of America, Hasbro, FactSet
July 24 (Reuters) - The fanfare around Margot Robbie-starrer "Barbie" could jolt the iconic Mattel (MAT.O) doll's sales out of a year-long slump, but Wall Street thinks the party in pink will be short-lived. While Mattel will report second-quarter results on Wednesday, days after the theatrical release of the movie, analysts say the boost for Barbie sales will be most pronounced in the quarter ending Sept. 29 before tapering off. Retailers worldwide have also pitched in, with brands from Zara (ITX.MC) to H&M (HMb.ST) and Gap rolling out themed merchandise like Barbie hoodies, perfumes and toothbrushes. But its gross billings - or the amount invoiced to customers - fell behind Hot Wheels in the first quarter of 2023. Mattel's forward 12-month price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 16.01, higher than 13.6 for Hasbro.
Persons: Margot Robbie, Barbie, Arpiné Kocharyan, Kocharyan, Ryan Gosling, Ken, Warner Bros, Zachary, Carol Osborne, Savyata Mishra, Devika Organizations: Mattel, UBS, Warner, Sunday, Reuters Graphics Reuters, CFRA Research, University of South, Muma College of Business, Hasbro, Thomson Locations: Zara, United States, Canada, Bengaluru
An incredibly rare Magic: The Gathering card from a new expansion was found on Friday. Instead, it's all to do with Hasbro's trading card game, Magic: The Gathering, which released an expansion this month that crosses over with JRR Tolkien's beloved fantasy series. —Magic: The Gathering (@wizards_magic) June 30, 2023While the search is over, the card's ownership may not be settled. The breakneck pace and high costs of new releases has also been an issue for local game shops that sell Magic: The Gathering cards. In April though, the bank upgraded the stock to "neutral" after earnings showed revenue from the card game surged in the first quarter.
Persons: , JRR, Francisco Rubio, Adam Martin, Dave, Eric LaGaccia Organizations: Service, Wall Street, Gremio de Dragones, Hasbro, City Comics, Bank of America Locations: Valencia, Spain, Buffalo , New York, Brooklyn
Furby, the ’90s toy phenomenon that divided kids and parents into opposing camps when it first hit stores and quickly became a craze, is making yet another comeback. The latest iteration of the animatronic toy launched on Amazon Thursday and rolls into stores nationwide on July 15 after a nearly 10-year gap. Still, Hasbro said it sold more than 40 million Furby toys globally in the first three years after they launched. In 2016, Hasbro launched Furby Connect, a version of the toy that incorporated Bluetooth for content upgrades via an app and an off button. “There’s a saying in the toy industry that what’s old is new again,” he said.
Persons: New York CNN —, Furby, pats, , Kristin McKay, Gen Alpha, , Jim Silver, “ Furby, Silver, , Barney Organizations: New, New York CNN, Hasbro, Amazon, Alpha, Hasbro Hasbro, Furby Locations: New York
[1/2] The Hasbro, Inc. logo is seen on a toy for sale in a store in Manhattan, New York, U.S., November 16, 2021. REUTERS/Andrew KellyApril 27 (Reuters) - Hasbro Inc (HAS.O) topped Wall Street expectations for quarterly revenue on Thursday as players snapped up its "Magic: The Gathering" game sets, helping counter slowing demand for its toys and action figures. Hasbro is also banking on the August release of "Baldur's Gate 3" video game to boost gaming revenue in the third quarter. In contrast, rival Mattel Inc (MAT.O) on Wednesday posted a bigger-than-expected quarterly loss, pinched by retailers trimming orders for its Barbie and Hot Wheels toys. Hasbro reported net revenue of $1.00 billion in the first quarter, down 14% from a year earlier, but better than analysts' estimates of $878.4 million, according to Refinitiv IBES data.
Hasbro stock surged 12% on Thursday after the company's first-quarter earnings impressed investors. The gaming company said its Magic: The Gathering card franchise is still firing on all cylinders. One Wall Street analyst has been concerned about gamer fatigue as the company continues to roll out new card sets. "There's a lot of wallet fatigue," Brooklyn-based Action City Comics owner Eric LaGaccia told Insider. But for now, that wallet fatigue among a certain group of Hasbro's core customers isn't enough to slow down what has become one of its top-selling brands.
Barbie maker Mattel posted first-quarter results after markets closed on Wednesday that beat revenue expectations but fell short of expectations on the bottom line. Other toy stocks, including Hasbro competitor Mattel and pop culture consumer company Funko , also jumped on Thursday. Toymaker stocks rallied Thursday after rivals Hasbro and Mattel posted quarterly results and offered optimistic comments about how their intellectual property will boost their businesses. Amid the challenging toy and game market, both Hasbro and Mattel are eyeing a future increasingly focused on intellectual property. Hasbro's "Transformers: Rise of the Beasts" from Paramount is slated for a June 9 release, while Mattel's much-hyped "Barbie" movie from Warner Bros. is scheduled for a July 21 release.
Hasbro stock faces challenges with Magic: The Gathering, according to Bank of America. The bank said stores and collectors have grown more cautious about investing in new product sets of the game. "We still see Magic underperformance as a key risk especially in 2H23 as Hasbro laps a crowded release schedule," BofA said. And it's that "wallet fatigue" that could hurt the sales growth of Magic: The Gathering for Hasbro going forward, according to BofA analyst Jason Haas. He reiterated an "Underperform" rating on Hasbro stock and $42 price target, which represents potential downside of 19% from current levels.
[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.
Magic: The Gathering fans are upset with how much product Hasbro has been releasing. Some game shop owners have had to sell cards at a lower cost — meaning they lose money and Magic loses value. At this point, given the huge costs to keep up with the game, fans felt that they were rightly concerned that Magic was becoming a luxury hobby. Hasbro's Magic: The Gathering strategy has alienated a lot of longtime fans, LaGaccia said, which has left many game shops with unsold product. Some fans have moved on from Magic to other card gamesSome Magic: The Gathering fans have found alternatives.
Hasbro stock has 29% downside potential as it continues to dilute the brand value of Magic: The Gathering. That's according to Bank of America, who reiterated its "Underperform" rating on the stock in a Tuesday note. "Within its Wizards segment, Hasbro continues to destroy customer goodwill by trying to over-monetize its brands." According to BofA, Hasbro continues to over-monetize the brands within its Wizards segment, which includes Magic: The Gathering and Dungeons & Dragons. "Within its Wizards segment, Hasbro continues to destroy customer goodwill by trying to over-monetize its brands," Bank of America said.
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