- Shares of JAKKS Pacific (JAKK +7.3%) jump after the toy maker's Q3 results beat expectations handily.
- Management reiterated full-year guidance, seeing EPS of -$2.56 (consensus of -$2.74) and revenue of $620M ($612.3M). When asked about guidance in light of the Q3 beat on the conference call, CFO Joel Bennett responded, "We are taking a cautious approach to ensure that the retail sell-throughs and buy-ins stay consistent. At the same time, the sell-throughs that we have currently on our products throughout the segmentation from Halloween to our evergreen toy products are doing extremely well."
- B. Riley promptly upgraded JAKKS to Buy from Neutral with a PT of $8.50.
JAKKS jumps after Q3 results beat expectations, guidance above consensus
Oct 24 2013, 10:05 ET