95.36 0.00 (0.00%)
After hours: 4:25PM EST
|Bid||95.45 x 1400|
|Ask||96.11 x 900|
|Day's range||94.55 - 95.76|
|52-week range||76.84 - 126.87|
|Beta (3Y monthly)||1.04|
|PE ratio (TTM)||46.29|
|Earnings date||6 Feb 2020 - 10 Feb 2020|
|Forward dividend & yield||2.72 (2.85%)|
|1y target est||114.71|
Zacks Earnings Trends Highlights: Fastenal, United Rentals, Caterpillar, Texas Instruments and Hasbro
(Bloomberg Opinion) -- It has long been clear that the White House’s tariffs on billions of dollars’ worth of goods made in China were not going to be good for U.S. consumers or the retailers trying to get them to open their wallets. Exactly how bad, however, was hard to know.Now comes Wayfair Inc., the e-commerce home-goods site, with a kind of case study of their impact. Tariffs are hurting their business, executives said — not necessarily because they make their products more expensive, although they do, but because they make their customers more wary.Wayfair reported quarterly earnings on Thursday and forecast a significantly slower pace of sales growth next quarter than investors have become accustomed to. The company said that outlook in part reflected challenges related to tariffs, which jumped to 25% this summer on many of its products and had also created headwinds in the third quarter.On a conference call with investors, Wayfair executives said that certain items on their marketplace — some with a lot of customer reviews and enticing product images — have gotten more expensive as suppliers raise prices. This, it turns out, appears to be causing customers to spend more time deliberating over their purchases: Should they go with the highly rated but more expensive item? Or should they take a chance on something that’s cheaper but has fewer reviews?Executives also said that as suppliers of more expensive items saw their sales volume sink, they would sometimes cut prices. The result, they said, was a “repetitive cycle of volatility” as customers tried to figure out how to get the best value for their money.Wayfair leaders said this is consistent with what they’ve observed in their business over time: Any kind of significant price movement — even downward — results in consumers taking their time before clicking the buy button.Of course, not every consumer business will see the same dynamics as Wayfair. Home furnishings purchases are generally more carefully considered, because couches, coffee tables and the like are expensive and are a hassle to return. But fellow retailers (and Washington lawmakers) should nonetheless consider Wayfair’s a cautionary tale.The impact of tariffs on the consumer economy is often discussed rather simplistically: They will cause prices to rise, which means shoppers will buy less stuff. Wayfair’s experience shows it is more complicated than that. Yes, consumers will change their behavior, but not always in a straightforward or predictable fashion. And this uncertainty complicates the response for manufacturers, retailers and, not incidentally, consumer brands.Last week, for example, toy giant Hasbro Inc. saw its shares sink nearly 17% after it reported disappointing earnings that reflected tariff-related difficulty. Certain retailers canceled toy orders that were to be imported directly from China and instead put in orders as domestic shipments from Hasbro. The maker of My Little Pony and Play-Doh was left scrambling to accommodate the changes, and ultimately wasn’t able to ship all the orders in time.Few U.S. retailers and consumer brands will be able to escape the impact of President Donald Trump’s trade policy. At this point, the best they can do is to commit to being flexible — and to analyzing their data for the potentially weird ripple effects of tariffs.To contact the author of this story: Sarah Halzack at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Mattel stock rose more than 20% after the bell due to its third-quarter performance. The company reported its earnings after the markets closed on Tuesday.
(Bloomberg) -- Scopely Inc., the maker of free-to-play mobile games such as Looney Tunes World of Mayhem and Star Trek Fleet Command, raised $200 million for acquisitions in a new funding round.The infusion brings the total amount that Scopely has raised to more than $450 million, according to a person with knowledge of the matter. Participants in the new round, led by NewView Capital Management, include the Canada Pension Plan Investment Board and Scottish money manager Baillie Gifford, the company said Tuesday.The investment values the business at $1.7 billion, according to the person, who asked not to be identified because those details aren’t being announced publicly. The company was previously valued at $710 million in early 2018.Free-to-play is among the fastest-growing categories in the global video-game businesses. Titles generate revenue by convincing players to spend money in the game once they get started.Scopely, based in Culver City, California, has generated more than $1 billion in revenue since its founding in 2011. In January, the company said on it was on pace to produce $400 million in sales annually.In an interview, Co-Chief Executive Officer Walter Driver said the company invested early in a technology platform that allows it to add new features quickly, such as chatting between players and leader boards. The company is profitable on an operational basis, he said.One early hit, Dice With Buddies, continues to produce record revenue when coupled with other dice-related titles the company has launched since then, such as Yahtzee With Buddies, a partnership with Hasbro Inc.To contact the reporter on this story: Christopher Palmeri in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Procter & Gamble, Hasbro, Copart, Lululemon and KeySight Technologies highlighted as Zacks Bull and Bear of the Day