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This list tracks the largest earnings misses for companies recently reporting earnings. This list is produced daily using the real-time earnings results reported by Selerity and limited to the top 30 stocks that meet the criteria.
Stocks ended lower Tuesday in a choppy session of trading as investors digested a deluge of corporate earnings results and continued to monitor trade and Brexit developments.
Hasbro released its third-quarter earnings today. While the revenues rose marginally during the quarter to $1.58 billion, the results disappointed analysts.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. When Hasbro Inc. thanked the Trump administration in August for delaying new tariffs on Chinese toy imports until Dec. 15, it may have been celebrating too soon.The toymaker tumbled as much as 18% Tuesday after reporting weaker-than expected third-quarter profit, a disappointing result it largely blamed on tariffs that aren’t even in place yet. The challenging quarter for Hasbro is just the latest example of U.S. companies issuing warnings about President Donald Trump’s trade spat with China.“The threat and implementation of tariffs negatively impacted our quarterly results,” Hasbro Chief Executive Officer Brian Goldner said on a call with analysts. “Importantly during the third quarter alone we saw multiple different dates for the enactment.”The shifting nature of when duties on toys would be implemented -- they were initially set for September, but are now slated for less than two weeks before Christmas -- significantly disrupted orders and the company’s supply chain. For example, some U.S. retailers that had placed large direct-shipment orders from China canceled them in July and August and asked for domestic shipments from Hasbro instead. Some of those requests were fulfilled, but the toymaker said it wasn’t able to rewrite all of the nixed orders in time.The company expects continued disruption this quarter as the tariffs are implemented -- assuming no trade deal is reached before then. Goldner tried to ease concerns by pointing out Hasbro is on track to reduce U.S. sourcing from China to 50% by the end of 2020.“We are having good success identifying and building products and geographies, including Vietnam, India and others,” he said.Shares fell the most intraday since 2015 in Tuesday trading. The stock had advanced almost 50% this year through Monday’s close, more than double the gain of the benchmark S&P 500 Index.(Updates with details from call)\--With assistance from Karen Lin, Janet Freund and Jonathan Roeder.To contact the reporter on this story: Matt Townsend in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Anne Riley Moffat at email@example.com, Lisa WolfsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com – Wall Street opened mixed on Tuesday, with the Nasdaq leading gains after a batch of mixed earnings helped to slightly ease concerns about the impact of U.S.-China trade disputes.
Hasbro shares were eyeing their biggest sell-off in more than 18 years, after the toy maker said the threat of more tariffs caused retailers to cancel or change orders during the third quarter. Like other companies manufacturing goods in China, Hasbro has been caught in the crossfire of the trade battle between Beijing and the US. Some of the group’s games were hit by tariffs enacted in September, leading Hasbro to increase pricing to offset their impact on margins.
Insurers' Q3 earnings are likely to have benefited from improved pricing, reinsurance agreements. However, catastrophe losses and lower interest rate might have acted as partial offsets.
Market participants are betting on the record-high U.S. indices as about 120 S&P 500 companies are scheduled to release their results this week.
The Travelers Companies (TRV) is likely to have benefited from higher premiums, investment income and improved productivity in the third quarter.
Zacks.com featured highlights include: Hasbro, Atkore International, Target, Hibbett Sports and Bristol-Myers Squibb
V.F. Corp's (VFC) higher investments toward brand development and technology enhancements might show on second-quarter fiscal 2020 performance.
People's United's (PBCT) third-quarter 2019 earnings reflect top-line strength, partially offset by elevated expenses and contraction of margins.
Citizens Financial's (CFG) Q3 earnings reflect capital strength and higher fee income, partially offset by escalating expenses and provisions.