Canaccord Genuity Morning Coffee on Hasbro (HAS): The Rock Says...
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Price: $93.54 -0.02%
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Hasbro (Nasdaq: HAS): The Rock says...
Hasbro is pushing back the release of “G.I. Joe: Retaliation” by nine months, days after the opening weekend for the “Battleship” film posted disappointing results. The G.I. Joe sequel, starring Dwayne Johnson (a.k.a. The Rock), Channing Tatum and Bruce Willis, will now be released on March 29, 2013 as Hasbro says it needs time for the film to be processed for 3D formatting. CEO Brian Goldner said, “It is increasingly evident that 3D resonates with moviegoers globally and together with Paramount, we made the decision to bring fans an even more immersive entertainment experience.” Despite the delay, management reaffirmed its revenue and earnings guidance for the year. Hasbro has looked to feature films as a source of revenue in recent years, which also help drive sales of toys based on the movies. “Battleship” was its first venture outside of the “G.I. Joe” and “Transformers” franchises. While its $25.3 million opening weekend may have been disappointing to some, it should be noted that the number was likely impacted by the strength of “The Avengers” and Hasbro owns the toy property for that film.
NOTE - 'The Avengers' is a Marvel film, which is currently owned by Disney (NYSE: DIS),
Hasbro is pushing back the release of “G.I. Joe: Retaliation” by nine months, days after the opening weekend for the “Battleship” film posted disappointing results. The G.I. Joe sequel, starring Dwayne Johnson (a.k.a. The Rock), Channing Tatum and Bruce Willis, will now be released on March 29, 2013 as Hasbro says it needs time for the film to be processed for 3D formatting. CEO Brian Goldner said, “It is increasingly evident that 3D resonates with moviegoers globally and together with Paramount, we made the decision to bring fans an even more immersive entertainment experience.” Despite the delay, management reaffirmed its revenue and earnings guidance for the year. Hasbro has looked to feature films as a source of revenue in recent years, which also help drive sales of toys based on the movies. “Battleship” was its first venture outside of the “G.I. Joe” and “Transformers” franchises. While its $25.3 million opening weekend may have been disappointing to some, it should be noted that the number was likely impacted by the strength of “The Avengers” and Hasbro owns the toy property for that film.
NOTE - 'The Avengers' is a Marvel film, which is currently owned by Disney (NYSE: DIS),
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