Diamonds and Dogs
Hasbro (HAS) soars 15% to a fresh 52-week high following better than expected earnings. The toy maker reported a beat on both its top and bottom lines for its holiday quarter. Revenue jumped 11.2% to $1.63 billion, driven by strong demand for girls' toys such as Disney Princess and Frozen dolls. The CEO, Brian Goldner said 2016 wa the first year the company topped $5 billion in revenue. Hasbro's growth outpaced the overall market, and per industry data, gaining share in almost every country they are in. Hasbro was ranked No. 1 in the industry for the month of December, among the top nine markets.
Tiffany (TIF) shares fell 2% in early trading following news late Sunday that its CEO Frédéric Cumenal was stepping down immediately after less than two years at the helm. This comes after the recent departure of its top designer and weak holiday sales. Cumenal will be replaced by former CEO and current Chairman Michael Kowalski while the company looks for a replacement. The executive shake-up came just hours before Tiffany was set to air its first Super Bowl ad, featuring Lady Gaga as part of its campaign for its new fashion jewelry collection.