Mattel Shares Sink In Premarket Trading And Take Hasbro Shares With Them

Mattel Inc. shares sank 6.8% toward a five-month low in Friday premarket trading after the toy company reported first-quarter earnings that missed expectations. The late-Thursday announcement also brought down Hasbro Inc. shares, which fell 2.1% in premarket activity. Mattel reported a loss per share of 33 cents and an adjusted loss per share of 32 cents. The FactSet consensus was a 17-cent loss. Sales plunged 15%, totaling $735.6 million down from $869.4 million last year. The FactSet consensus was $794.0 million. Mattel shares are down 19% for the last year, Hasbro shares are up 10.6% for the period, and the S&P 500 index is up 12.6% for the past 12 months.