It's been nearly a week now since Hasbro (NASDAQ: HAS) dropped a bombshell on the stock market, announcing layoffs, an executive departure, and an earnings warning -- and sending its stock down 8% in a day. On Thursday last week, after trading was safely closed for the day, Hasbro revealed plans to lay off 15% of its global workforce -- 1,000 people -- in an effort to combat the cost of plunging sales at the toys and entertainment conglomerate. The good news is that Hasbro is still -- at least as of fourth-quarter 2022 -- enjoying "strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business."
e.l.f. Beauty and Hasbro have been highlighted as Zacks Bull and Bear of the Day.