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Tag: JAKKS Pacific Inc

  • Financial Results Boost JAKKS Pacific (JAKK) Stock

    Financial Results Boost JAKKS Pacific (JAKK) Stock

    JAKKS Pacific, Inc. (NASDAQ: JAKK) wrapped up the trading session on Wednesday with a notable 1.73% increase, reaching $17.06. Interestingly, JAKKS Pacific’s stock experienced a remarkable surge of 22.04% during the afterhours session, reaching $20.82. This surge in JAKK’s stock price came on the heels of the release of its financial results, which occurred after the conclusion of regular trading hours, and the successful attainment of a noteworthy agreement.

    On the previous day, JAKKS Pacific (JAKK) unveiled its financial results for the third quarter, concluding on September 30, 2023. The report indicated net sales of $309.7 million, representing a 4% decrease compared to the previous year’s figure of $323.0 million. Notably, JAKKS Pacific maintained a net income of $47.8 million, equivalent to $4.53 per diluted share during the reporting period. By contrast, in the same quarter of the previous year, JAKK reported a net income of $30.3 million, amounting to $2.96 per diluted share.

    Throughout the third quarter, JAKKS Pacific officially inaugurated its new office and self-operated warehouse in Italy, with plans to enhance its service in that market and Southern Europe more broadly, commencing in 2024. JAKKS Pacific has now shifted its strategic focus towards optimizing its presence across the European Union, capitalizing on the current strength of its product line. Concurrently, JAKK remains dedicated to proactively managing its inventory, bolstering internal discipline with regards to turnover, and maximizing its cash position.

    In a separate press release issued on the same day, JAKKS Pacific also unveiled a long-term agreement with Authentic Brands Group (Authentic), a prominent global brand development, marketing, and entertainment platform. Under this agreement, JAKK will undertake the design, production, and distribution of a wide array of innovative products inspired by Authentic’s portfolio of iconic brands. These brands include Forever 21, Juicy Couture, Element, Roxy, Quiksilver, Prince, and Sports Illustrated. The rollout of these new products is scheduled to take place both in physical retail stores and online, accessible through key specialty and mass retailers around the world, starting in 2024.

    This partnership between JAKKS and Authentic signifies the initiation of JAKKS’ strategy to create products catering to the Millennial and Gen Z generations under well-established brand names. It will propel JAKK into new product categories while expanding its presence in various retail channels. Furthermore, the introduction of spring and summer-focused product lines also serves to diversify JAKK’ business portfolio, offsetting its traditional dependence on the Halloween and holiday seasons.

  • Stocks to Watch as Markets Rally on Election Day

    Stocks to Watch as Markets Rally on Election Day

    The markets are up this morning as the U.S goes to the election. The NASDAQ is up by 0.65% while the S&P 500 and the Dow are all up by over 1%. This is an indicator that the markets have factored in a win by either of the candidates. If Joe Biden wins and the democrats win both houses, the markets anticipate that this could lead to a huge stimulus package that could reignite growth in an economy that has been battered by the coronavirus. As a result, this could see consumer spending rise, business rebound and by extension, the equity markets rise post-election. On the other hand, if Trump wins and republicans retain the senate, the stimulus package would still come, since democrats and republicans were close to a deal on a fiscal package even before the election.

    Businesses would also continue to enjoy the favorable tax regime under President Trump, and also the favorable regulatory environment that saw the markets rally before the COVID-19 pandemic created uncertainties in the economy. For this reason, the stock markets are likely to keep gaining all through the voting day.  In this environment of high optimism, stocks with big news are likely to have a higher momentum throughout the day. Some of the stocks that are performing well pre-market and could record huge gains in the day are as below:

    Alaska Communications Systems Group Inc [NASDAQ: ALSK]

    Alaska Communications Systems Group Inc is a top gainer pre-market and is up by over 50%. This follows the company’s announcement that it had entered into an agreement to be bought by Macquarie Capital and GCM Grosvenor for $300 million. Under the deal, Macquarie and GCM will buy all outstanding stock at $3 a share, or a premium of 57% of its closing price yesterday.

    Sundial Growers Inc [NASDAQ: SNDL]

    Sundial Growers Inc is another top performer this morning and is up by over 30%. This follows the company’s announcement that it will be releasing its Q3 results on the 11th of November. From its price action, it is clear that investors expect the company to report strong results for Q3, and are taking positions in anticipation of the same.

    JAKKS Pacific Inc [NASDAQ: JAKK]

    JAKKS Pacific Inc is another top performer this morning and is up by over 29.26%. This follows the company’s announcement of strong Q3 results. CEO Stephen Berman stated that the Q3 results beat their expectations given the challenges that the company faced in the quarter.