We have seen earnings this morning from toy giants Hasbro Inc. (NYSE: HAS) and Mattel Inc. (NYSE: MAT). One is a relative winner, while one is not.
Hasbro managed to beat earnings expectations despite a 15% drop in earnings to$0.89 per share. That’s 3 cents better than analysts’ estimates. Revenue posted a 7% gain to$1.3 billion while Hasbro posted a 6% North American gain and a9% international gain. The company said that stronger sales in StarWars, Playskool, Nerf, and board games helped results.
Mattel missed earnings expectations despite posting less thana 1% gain in earnings. The toy maker made $0.66 per share, rather than the$0.71 analysts had expected. It posted a 6% gain in revenue to $1.95 billion andthe company noted that a weak dollar helped sales numbers by roughly2%. American Girl sales still rose 11%, but Barbie sales were off 1%at a time where advertising and operating costs were rising.
Mattel shares are down almost 4% pre-market at $13.89, and its 52-weektrading range is $13.11 to $22.07. So far we have yet to see any realdirection in Hasbro shares.
Jon C. Ogg
October 20, 2008
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.