Diamonds and Dogs
The force is strong with Hasbro (HAS). Hasbro is surging 5% to a new 52 week high thanks to strong earnings due in part to Disney franchises, Star Wars and Frozen. Hasbro reported earnings of 38 cents a share easily beating estimates of 24 cents while sales surged to $831 million verse estimates of $777 million. The company also announced a dividend of 51 cents per share up 10% year over year. In their conference call, the CEO stated he was encouraged with global demand and thier outlook for the remainder of 2016.
Today's dog is feeling the punch from one of its competitors. Netflix (NFLX) is one of the few stocks not participating in today's broad market rally. The stock is down 4% on news their biggest rival; Amazon will offer their own streaming services for a dollar less than Netflix. Amazon will also offer Amazon Prime to their new streaming services subscribers. It's tough to compete with Amazon.