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- 🧸 Playtime Is Over?
🧸 Playtime Is Over?
Plus, a $50 million payday for a lucky guess...
Happy Thursday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.
🟨 | US stocks were mixed Thursday. The Dow closed down just slightly from the prior day’s record high, while the S&P 500 and Nasdaq continued to climb, as the post-election bump persisted and the Fed cut interest rates again.
📈 | One Notable Gainer: Shares of Warner Bros. Discovery popped almost 12% after Max added a record number of streaming subscribers last quarter.
📉 | One Notable Decliner: Match Group’s stock slumped nearly 18% on an earnings miss showing more and more users are swiping left on Tinder.
🧸 | Tomorrow's Trade: Is Playtime Over for Hasbro? Scroll down for more.
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S&P 500 Heatmap. Credit: Finviz
All Stock Heatmap. Credit: Finviz
Global ADR snapshot. Credit: Finviz
MARKET MOVERS
JPM (-4.4%) JPMorgan Chase CEO Jamie Dimon has no plans to join Trump administration (CBS)
TTWO (+7.5%) Take-Two Sells Small-Game Division for Undisclosed Sum (Bloomberg)
MELI (-16.2%) MercadoLibre Stock Tanks 15% After Earnings Miss -- But Is This the Buy Signal? (YF)
INTC (+4.7%) What a Second Trump Term Means for Intel (Business Insider)
APA (-11.3%) APA Corp slightly misses Q3 profit estimates, reduces 2025 capital forecast (Reuters)
OVERHEARD ON THE STREET
AP: As investors expected, the US Federal Reserve cut interest rates by 25 basis points in November, below September’s 50-basis-point cut.
CNBC: This chart shows how a Republican trifecta in Congress could impact the stock market.
AP: More Americans applied for first-time unemployment benefits last week, but layoffs remain low.
ABC: The average US 30-year mortgage rate rose for the sixth straight week, reaching its highest level since early July.
Reuters: Nissan will cut 9,000 jobs and reduce production due to weak sales in China and the US.
TOMORROW’S TRADE IDEA, TODAY
Is Playtime Over for Hasbro?
Play Fighting
The two biggest players in the toy industry, Hasbro (HAS) and Mattel (MAT), have been trending in the opposite direction as of late.
This isn’t exactly an uncommon occurrence. For much of their history, the two companies have jockeyed for market dominance like Rock 'Em Sock 'Em Robots, with one typically gaining the upperhand while the other suffers. That divergence in performance will often be exacerbated by long and short equity fund managers.
Recently, it has been Hasbro on top, with Mattel scrambling to catch up. But one analyst expects that dynamic to shift shortly.
Hasbro
Hasbro has been on an upward trajectory that began last year. The Transformers-maker officially broke through its resistance level in April.
Currently, Hasbro’s 40-week moving average is suggesting a sustainable uptrend. However, its recent earnings report resulted in intermediate-term sell signals from the DeMark Indicators and the MACD, per Fairlead Strategies’ Katie Stockton.
The analyst expect that this could cause the stock to dip over the next several weeks. Its support level is hovering near $61, according to Stockton.
Mattel
Mattel, on the other hand, is not currently in a cyclical uptrend. However, the company behind Barbie did recently break a downtrend line and is beginning to show bullish momentum.
The MACD is showing potential upside for the stock, and resistance is sitting around $22.50, while support rests at $19.40. Additionally, Stockton believes Hasbro is now overextended, which could result in Mattel outperforming its competitor.
With this in mind, Stockton feels that Mattel is in it for the long haul, while shorting Hasbro could pay off in the short term.
Which stock do you think will outperform over the next 12 months? |
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ON OUR RADAR
CNBC: Fed Chair Jerome Powell stated he would not resign if President-elect Donald Trump requested it.
WSJ: The mystery trader known as the “Trump whale” is poised to make nearly $50M in profit from a series of bold bets tied to the presidential election.
MarketWatch: Stocks are expected to continue rallying after the election and rate cuts, but the bond market shows signs of concern.
CNN: Goldman Sachs lowered its growth forecasts for Europe following Trump's win.
Barron’s: Trump appears poised to shake up the SEC, a move likely to please Wall Street.
WEDNESDAY’S POLL RESULTS
🟨🟨⬜️⬜️⬜️⬜️ 🐂 Bullish
🟩🟩🟩🟩🟩🟩 🐻 Bearish
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