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☆ Hasbro stock jumps 12% after revenue from its Magic: The Gathering franchise surges despite concerns of gamer fatigue
▼ + stars: | 2023-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

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.

☆ Magic: The Gathering remains a 'key risk' for Hasbro stock as collectors grow cautious on investing in new card sets
▼ + stars: | 2023-04-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

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.

☆ 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.

☆ Frustrated Magic: The Gathering fans say Hasbro has made the classic card game too expensive
▼ + stars: | 2023-02-09 | by ( Travis Clark | Max Adams | ) www.businessinsider.com time to read: +6 min

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 'continues to destroy customer goodwill' and the stock could crash 29% as it dilutes the value of Magic: The Gathering, Bank of America says
▼ + stars: | 2023-02-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

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.

☆ Hasbro warns of weak holiday quarter results, cuts 15% of its workforce
▼ + stars: | 2023-01-26 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Hasbro said Thursday it would eliminate around 1,000 employee positions and warned of weak holiday-quarter results. The layoff of around 15% of its global workforce comes as the company seeks to save between $250 million and $300 million annually by the end of 2025. Hasbro said it expects fourth-quarter revenue, which includes the holiday season, to reach $1.68 billion, down 17% compared to the same period last year. Estimates called for Hasbro to reach $1.92 billion during the quarter, according to data from Refinitiv. For the full year, the company foresees revenue hitting $5.86 billion, down 9% compared to 2021.

☆ Hasbro delays new Dungeons & Dragons licensing rules following fan backlash
▼ + stars: | 2023-01-13 | by ( Sarah Whitten | ) www.cnbc.com time to read: +10 min

CNBC obtained copies of Hasbro's reformed licensing agreements — open game license 1.1 and an FAQ section for OGL 2.0. Leaders in the Dungeons & Dragons community greeted the news of the delay with cautious optimism. The attempt to create a new game license comes as Wizards of the Coast looks capitalize on a surge in popularity of Dungeons & Dragons. Chaotic neutralThe reworking of Hasbro's open game license is not an unexpected move for the business, MKM's Handler said. There were growing concerns that the community would fracture if publishers were forced to move away from the Dungeons & Dragons game mechanics to develop their own gaming systems.

☆ Hasbro defends Magic: The Gathering strategy, says 'there is no evidence' cards are overprinted
▼ + stars: | 2022-12-08 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

Photographer: Mark Abramson/Bloomberg via Getty ImagesHasbro is defending its strategy for its popular Magic: The Gathering game. Williams said the company typically spreads out its tentpole releases of Magic: The Gathering card sets in two-month intervals. She said Hasbro prints and reprints cards based on demand both during presales and once the product has been released. But Cocks said that he doesn't think raising prices on Magic cards is the answer to expanding the business over the long term. Hasbro's most engaged Magic players are those who play both online and in-person at local game shops or with friends.

☆ 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.”

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 is 'killing its golden goose' by destroying the long-term value of Magic: The Gathering, BofA says in scathing downgrade call
▼ + stars: | 2022-11-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Hasbro stock received a double downgrade from Bank of America on Monday due to its management of the popular Magic: The Gathering card game. The bank said Hasbro is overprinting Magic cards which is destroying its long-term value. BofA's downgrade is driven by Hasbro's overprinting of Magic cards, which is "destroying its long-term value" and "killing its golden goose." In a bid to keep up with growth, Hasbro had more frequent card set release with more product in each release. Hasbro stock is down 44% year-to-date.

☆ Bank of America says Hasbro could fall 34% as company 'kills' 'Magic: The Gathering' card game
▼ + stars: | 2022-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Hasbro is trying to squeeze extra money out of "Magic: The Gathering" fans in the short term, Bank of America says. Analyst Jason Haas downgraded the toy stock to underperform from buy as recent changes to the "Magic" cards brand amount to Hasbro "killing its golden goose." The toy company has tried to capitalize on that demand by upping the number of new releases and production volumes. Reprints can hurt the secondary-sale market because the packs include cards from the "Reserved List," which is a group of cards Hasbro previously promised to never reprint. Meanwhile, Haas said Hasbro could improve its outlook if it has a better slate of releases next year.

☆ Stocks making the biggest moves in the premarket: Hasbro, Oatly, Advanced Micro Devices and more
▼ + stars: | 2022-11-14 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Advanced Micro Devices (AMD) – The chip maker's stock rose 3.2% in the premarket after receiving upgrades at both Baird and UBS. Amazon.com (AMZN) – Amazon fell 1.7% in premarket trading after Bank of America removed the stock from its "US 1" list, although it maintained a "buy" rating. Teva Pharmaceutical (TEVA) – Teva was downgraded to "underweight" from "neutral" at J.P. Morgan Securities, which cited continuing growth challenges for the drugmaker. Teva fell 2.3% in premarket action. Lilly added 1.5% in premarket trading, while Biogen rallied 5.8%.

☆ Here are Monday's biggest analyst calls: Apple, Tesla, Amazon, Coinbase, AMD, Boeing & more
▼ + stars: | 2022-11-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Bank of America reiterates Tesla as equal weight Bank of America cut its price target on Tesla to $275 per share from $325 and said it sees sales volume headwinds. Read more about this call here Citi downgrades Bank of America to neutral from buy Citi said the risk/reward outlook for Bank of America is skewed to the downside. Baird upgrades Advanced Micro Devices to outperform from neutral Baird said demand for the semiconductor company's products remains strong. " JPMorgan downgrades Teva to underweight from neutral JPMorgan said that it's concerned about slowing growth. " Bank of America removes Amazon from the US1 list Bank of America removed Amazon from the firm's top picks list.

☆ Hasbro delivers dour quarter as higher prices cool demand
▼ + stars: | 2022-10-18 | by ( Granth Vanaik | ) www.reuters.com time to read: +2 min

Oct 18 (Reuters) - Hasbro Inc (HAS.O) missed quarterly profit estimates on Tuesday as the company's move to raise prices to offset surging commodity costs led inflation-weary customers to buy fewer toys and games. "There is still indications of fairly strong demand for toys," Linda Bolton Weiser, analyst at D.A. Still, Hasbro saw its net revenue fall 15% to $1.68 billion in the third quarter ended Sept. 25, partly dented by a stronger dollar. Shares of the 'Magic: The Gathering' maker were down about 2% in morning trading. 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.

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