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MAT

Mattel

$16.28

-0.2 (-1.21%)

16:13
07/25/18
07/25
16:13
07/25/18
16:13

Mattel cuts over 2,200 positions, or 22% of non-manufacturing workforce

Mattel announced a reduction of over 2,200 positions, representing 22% of global non-manufacturing workforce, as well as the planned sale of manufacturing sites in Mexico. The company says it is on track to deliver $650M in savings, reflecting "progress in Structural Simplification program to restore profitability and improve efficiency." Ynon Kreiz, Chairman and CEO of Mattel said, ""While the industry is evolving, the toy market continues to grow, and we should be able to reverse our own trends given our strong standing and the quality of our assets. With that said, we are in a turnaround and as expected, had a challenging second quarter driven primarily by the Toys 'R' Us liquidation. At the same time, we saw continued strong performance by Barbie and Hot Wheels, and we made substantial progress on our Structural Simplification program to restore profitability and improve productivity in the near-term. Our goal is to transform Mattel into an IP-driven, high performing toy company and I'm confident we have the right team, the right assets and the right strategy in place to achieve this and enhance long-term value for our shareholders."

  • 25

    Jul

MAT Mattel
$16.28

-0.2 (-1.21%)

06/28/18
DADA
06/28/18
DOWNGRADE
DADA
Underperform
Correction: Mattel downgraded to Underperform from Neutral at DA Davidson
06/28/18
06/28/18
DOWNGRADE
Target $12

Underperform
Mattel downgraded to Underperform, valuation "out-of-whack," says DA Davidson
As previously reported, DA Davidson analyst Linda Bolton Weiser downgraded Mattel to Underperform citing the +29% run-up in shares from the April 20 lows, despite a lack of improvement in fundamentals. Weiser said Mattel had a difficult Q2 comp due to Cars 3 channel fill, expects light shipments caused by the Toys "R" Us liquidation, and notes plastic resin spot prices are up 30% since late May 2017. As a result, the analyst cut her Q2 earnings estimate to (31c) from (24c), versus consensus of (30c), and reduced her 2018 earnings estimate to (23c) from (16c), and 2019 to 58c from 65c. Weiser views valuation as "out-of-whack" and trimmed her price target to $12 on Mattel shares.
06/28/18
DADA
06/28/18
DOWNGRADE
Target $12
DADA
Underperform
Mattel downgraded to Underperform at DA Davidson on impact of TRU liquidation
As reported earlier, DA Davidson analyst Linda Bolton Weiser downgraded Mattel to Underperform from Neutral, keeping her price target at $12. The analyst notes that the stock price has risen 29% from its April low even though the company's fundamentals have not improved. Weiser says Mattel is facing a challenging comps period in Q2 given last year's Cars 3 channel fill, along with the impact and shipment disruptions associated with the bankruptcy of Toys R Us. The analyst also points to higher input costs, with the plastic resin spot prices rising 30% in the past year and 2% since the company last reported Q1 results, anticipating raw material inflation to continue weighing on Mattel's gross margins.
06/28/18
06/28/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AeroVironment (AVAV) downgraded to Hold from Buy at Stifel with analyst Joseph DeNardi citing valuation, but he continues to maintain a positive bias on the stock. 2. Beacon Roofing (BECN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Michael Eisen saying he sees a threat to consensus estimates based on the higher oil price and freight costs amid declining industry demand. 3. Green Plains (GPRE) downgraded to Equal Weight from Overweight at Stephens with analyst Farha Aslam stating that its restructuring plan is a long-term positive, but in the near-term the company may be "forced to cut muscle." 4. Mattel (MAT) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser noting that the stock price has risen 29% from its April low even though the company's fundamentals have not improved. 5. Aquinox (AQXP) downgraded to Hold from Buy at Needham with analyst Alan Carr noting that the company's Phase 3 trial of rosiptor in Interstitial Cyrstitis failed to demonstrate efficacy, with no evidence of activity at any point or within any subset of patient subset. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here

TODAY'S FREE FLY STORIES

DDAIF

Daimler AG

$0.00

(0.00%)

18:46
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Initiation
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PUGOY

Peugeot

$0.00

(0.00%)

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FCAU

Fiat Chrysler

$14.18

0.045 (0.32%)

18:45
07/15/19
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Initiation
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  • 31

    Jul

TGI

Triumph Group

$23.07

-0.22 (-0.94%)

18:42
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Triumph Group selected by leading airline as MRO provider »

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TRQ

Turquoise Hill

$1.07

-0.02 (-1.83%)

18:32
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Turquoise Hill reports Q2 copper output 39.2KT, down 0.6% from last year »

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RIO

Rio Tinto

$61.50

0.77 (1.27%)

18:29
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18:29
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18:29
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Rio Tinto cuts FY19 Pilbara ore shipments view to 320M-330M tons »

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  • 25

    Sep

RIO

Rio Tinto

$61.50

0.77 (1.27%)

18:28
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Hot Stocks
Rio Tinto report Q2 Pilbara iron ore output 79.7M tons, down 7% from last year »

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  • 25

    Sep

VMW

VMware

$172.22

2.48 (1.46%)

18:24
07/15/19
07/15
18:24
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18:24
Hot Stocks
VMware: We have momentum across the board »

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  • 16

    Jul

CGIX

Cancer Genetics

$0.17

-0.0059 (-3.35%)

, IDXG

Interpace Diagnostics

$0.70

-0.0071 (-1.01%)

18:21
07/15/19
07/15
18:21
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Conference/Events
Interpace Diagnostics to hold a conference call »

Conference call to…

CGIX

Cancer Genetics

$0.17

-0.0059 (-3.35%)

IDXG

Interpace Diagnostics

$0.70

-0.0071 (-1.01%)

03/08/13
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17:55
07/15/19
07/15
17:55
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17:55
Conference/Events
Stephens business services analyst to hold a group dinner »

Group Dinner Meeting to…

EYEN

Eyenovia

$2.89

0.04 (1.40%)

17:51
07/15/19
07/15
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17:51
Hot Stocks
Eyenovia CEO buys 233.8K shares of common stock »

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ET

Energy Transfer LP

$14.91

0.09 (0.61%)

17:38
07/15/19
07/15
17:38
07/15/19
17:38
Periodicals
Energy Transfer considering sale of 33% Rover pipeline stake, Bloomberg says »

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INNT

Innovate Biopharmaceuticals

$1.12

0.02 (1.82%)

17:37
07/15/19
07/15
17:37
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17:37
Hot Stocks
Innovate Biopharmaceuticals gives corporate update, undertakes CEO search effort »

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LAMR

Lamar Advertising

$80.70

-0.31 (-0.38%)

17:36
07/15/19
07/15
17:36
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17:36
Hot Stocks
Lamar Advertising to acquire Ashby Street Outdoor Holdings »

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  • 07

    Aug

LMT

Lockheed Martin

$367.65

-1.81 (-0.49%)

17:24
07/15/19
07/15
17:24
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Hot Stocks
Lockheed Martin awarded $492.11M Army contract for M142 launchers »

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  • 23

    Jul

EGHT

8x8, Inc.

$25.62

-0.24 (-0.93%)

, FIVN

Five9

$48.00

-5.53 (-10.33%)

17:15
07/15/19
07/15
17:15
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Conference/Events
Stephens communications analysts to hold an analyst/industry conference call »

Communications Analysts,…

EGHT

8x8, Inc.

$25.62

-0.24 (-0.93%)

FIVN

Five9

$48.00

-5.53 (-10.33%)

LOGM

LogMeln

$76.57

0.41 (0.54%)

RNG

RingCentral

$123.31

0.34 (0.28%)

WORK

Slack Technologies

$34.78

1.04 (3.08%)

TWLO

Twilio

$145.36

3.185 (2.24%)

VG

Vonage

$12.79

-0.2 (-1.54%)

ZM

Zoom Video

$99.76

6.465 (6.93%)

GOOG

Alphabet

$1,150.39

5.84 (0.51%)

MSFT

Microsoft

$138.94

0.08 (0.06%)

AMZN

Amazon.com

$2,021.00

10.38 (0.52%)

03/08/13
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  • 17

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  • 13

    Nov

WTI

W&T Offshore

$4.83

0.13 (2.77%)

17:08
07/15/19
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Hot Stocks
W&T Offshore CEO buys 100K shares of common stock »

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SRT

StarTek

$7.10

0.04 (0.57%)

17:08
07/15/19
07/15
17:08
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17:08
Syndicate
Breaking Syndicate news story on StarTek »

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  • 12

    Sep

VTVT

vTv Therapeutics

$1.37

(0.00%)

17:08
07/15/19
07/15
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Hot Stocks
vTv Therapeutics jumps 20% after saying it will make presentation at AAIC »

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JBHT

J.B. Hunt

$92.50

-0.45 (-0.48%)

16:53
07/15/19
07/15
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Hot Stocks
Breaking Hot Stocks news story on J.B. Hunt »

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  • 15

    Jul

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  • 13

    Nov

ARW

Arrow Electronics

$68.82

-0.15 (-0.22%)

16:52
07/15/19
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Hot Stocks
Breaking Hot Stocks news story on Arrow Electronics »

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UBNK

United Financial

$14.02

-0.1 (-0.71%)

16:45
07/15/19
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Hot Stocks
Breaking Hot Stocks news story on United Financial »

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  • 17

    Jul

TRWH

Twin River Worldwide

$28.90

-0.08 (-0.28%)

16:44
07/15/19
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16:44
Hot Stocks
Standard General to tender 13M shares from Twin River Worldwide »

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HQY

HealthEquity

$70.29

-1.38 (-1.93%)

16:44
07/15/19
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16:44
Hot Stocks
HealthEquity director Robert Selander buys 610K in company shares »

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TSS

TSYS

$133.45

1.26 (0.95%)

, GPN

Global Payments

$165.94

1.69 (1.03%)

16:39
07/15/19
07/15
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16:39
Hot Stocks
Global Payments establishes new credit agreement to support merger with TSYS »

Global Payment (GPN)…

TSS

TSYS

$133.45

1.26 (0.95%)

GPN

Global Payments

$165.94

1.69 (1.03%)

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  • 30

    Jul

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