BUZZ-Toymakers Hasbro, Mattel slip as Trump tariff concerns loom

Reuters11-07

** Shares of toy manufacturers Mattel and Hasbro

fall in mid-day trading

** Donald Trump, who was elected as the next U.S. president, could propose 60% tariffs on U.S. imports of Chinese goods that will hurt toy makers, analysts say

** Mattel down as much as 7.5% to $18.70 - set for its worst day since July 23

** Hasbro slips as much as 6.5% to $62.62, its lowest since Aug. 5

** For HAS, imports from China account for ~40% of sales; for MAT it accounts for ~50% of sales vs industry average of ~80% - Jefferies

** "If the tariffs were more widespread across all imported goods, the toy companies could be impacted materially," says Jefferies analyst Kylie Cohu

** So far this year, HAS stock up ~24%, MAT down marginally, including session's moves

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment