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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Let's take a look at some stocks on the move today. Alexis christoffers looking a myriad of earnings today.
Myriad is the right word for it. I want to start with what I called earlier our loser DuJour, which is Mattel. Sorry, Barbie, but this stock is now down twenty nine percent pre market. It's price target was lowered over at Jeffreys this morning, down to nineteen dollars from twenty five dollars a share. So the holiday period, the bread and butter right for these companies was disappointing. For Mattel. A lot of retailers also offered big promotions that squeezed margins.
But I think what really is getting investors down is its full year guidance. It is considerably lower than expected. Remember we had Hasbro a few day is ago. Much different story, Yes, uh, you know, much better than expected, actually better than next.
The digital games their house. I think David bigger games. That's what I learned yesterday. We spoke to the toy analyst.
Learning they're moving from Rhode Island. They're moving from Rhode Island up to Boston, really okay, and they want to get closer to Durgan Parks. The problem here, alexis you don't remember this because I grew up in a Barbie thon with with with my kids, particularly the middle child. And what's important here is Barbie on the go sled toboggan was a must have in the house, okay. And that's a precursor for Barbie luge. So maybe they'll bounce back after the Olympics.
She's in the Olympics. I didn't I didn't realize, but yeah, I used to step on, you know, Barbie heads and arms and what have you in my house. And apparently that you know, sales are slumping.
In Mattapoisse at Massachusetts. There's a drive by. It's a house where the entire front lawn is Barbie now all year, where the snow's piled up. They don't care.
Mittel loves them.
It's first good.
Maybe that they'll send them some free Barbies next, all right, lift Oh yes, oh my gosh. Down sixteen percent right now. Disappointing forecast A surprise revenue miss. It's still going to buy back though a billion dollars up its own stock, So confidence I guess in the company there. But it's got this global expansion, new product offerings. We saw the same thing over at Uber when they're moving away from
their core business. It seems that investors don't love it, and so they're punishing the stock as a result.
This is a case study for me Uber and lyft Ipel about the same time. At that time they were kind of the same companies. Boy had those passp diverged. Since the IPO lift is six seven eight nine million and one hundred plus billion market capture, the revenues eight times fifty ish gazillion, it lift is six gazillion. Yeah, it's just crazy. I mean, it's like talk about it's the version there. All right, Well, so do you.
Have one more for us?
I do.
We've got to talk craft times right down nearly eight percent right now. That's on top of its one year return of minus sixteen percent. So it's going to pause that propose split into two separate companies. Remember it wanted to take like its its grocery store staples business. Oscar Myers meets lunchables, it wanted to cut that off from its faster growing sauces and seasonings business. Warren Buffett didn't
like that. He actually called the breakup disappointing. Remember he's the one who brought the two together in twenty fifteen. So Kraft Times as a new CEO, he says he sees opportunities ahead. That's CEO speak for Craft Times, where he wants to keep them together until he can make them strong enough to separate. So he's going to invest six hundred million dollars to turn the group around. Of course, this is the company behind Hines Ketchup and Philadelphia Cream Cheese,
so we'll see if it works. But there's an analyst over at td cowan Robert Moscow. He says this indicates the business not strong enough to operate on a standalone basis, so we'll have to see when investors get on board with this planned to split into two.
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