Diamonds and Dogs
Hasbro (HAS) is ready for Christmas. With less than 70 days until Christmas, Hasbro is firing on all cylinders as their stock jumped 8% on better than expected earnings. Rhode Island-based company reported net income for the quarter of $257.8 million, topping last year's $207.6 million thanks to strong sales in their games division, while tie-ins with Disney and DreamWorks movies have boosted sales to girls. The toy industry pulled out of a near decade-long funk last year with the help of Hollywood tie-ins and improved technology.
Chipotle Mexican Grill (CMG) can't get out of its own way. The Mexican –style fast food restauranteur has struggled to gain back customers after suffering a number food poisoning problems last year. The analyst at Nomura downgraded the stock and his price target from $405 to $372 today after channel checks showed that recent promotions (including but not limited to Chiptopia) do not appear to have had the fully desired effects from the company's perspective. Nomura also lowered its same-store sales estimate for the third quarter to a 19.5% drop from a 18% decline.
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