Slumping Barbie Sales Lead Mattel’s Q2 Downwards and 2 More Heavily Traded Stocks to Follow
Mattel Inc. (NASDAQ:MAT): Current price $43.16
Mattel’s iconic Barbie doll saw its fourth straight sales decline according to the company’s second quarter results, and the toymaker major posted a much weaker-than-anticipated second quarter profit. Newer brands, such as the teen monsters of the company’s own Monster High line, have gained market share, but Mattel shares are down 7 percent near the close Wednesday afternoon. Meanwhile, shares of Mattel’s smaller rival Hasbro fell by almost 3 percent. Sales of Barbie fell by 12 percent in the second quarter, but sales of its Other Girls line, which includes Monster High, increased by 23 percent.
JPMorgan Chase & Co. (NYSE:JPM): Current price $55.27
The Wall Street Journal said on its website on Wednesday that JPMorgan and the Federal Energy Regulatory Commission are nearing a resolution that might result in the bank making the biggest payment ever to the regulator. Although the amount to be paid is unknown, past discussions have involved a figure close to $1 billion, according to the Journal, which cited inside sources. Those sources also said that the parties are exchanging drafts of an accord, which would settle claims that the bank manipulated electricity markets in California and the Midwest.
U.S. Bancorp (NYSE:USB): Current price $36.74
Shares of U.S. Bancorp are closing down about 1.5 percent on Wednesday, after the company said it expects mortgage revenue to continue to fall in 2013. The lender was the second worst performer today on the 24-company KBW Bank Index, which increased by 0.5 percent. Second quarter net income rose by 4.9 percent to $1.48 billion, or 76 cents per share, according to a bank statement Wednesday. That number is in line with the average estimate of 34 analysts surveyed by Bloomberg. Company executives said that mortgage revenue will likely decline in the second half, but that its net interest margin will be stable in the third quarter.