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Watch List Highlights - Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Meredith Corporation (NYSE:MDP), Amazon.com, Inc. (NASDAQ:AMZN), Mattel, Inc. (NASDAQ:MAT)

Watch List Highlights - Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Meredith Corporation (NYSE:MDP), Amazon.com, Inc. (NASDAQ:AMZN), Mattel, Inc. (NASDAQ:MAT)
Written by
Joel Najarian
Published on
October 16, 2014
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Martha Stewart Living Omnimedia, Inc. (NYSE:MSO) shares climbed Thursday, after the media-and-merchandising company late Wednesday said entered a 10-year partnership with larger rival Meredith Corporation (NYSE:MDP) under which Meredith will assume ad sales, circulation, and production of its "Martha Stewart Living" and "Martha Stewart Weddings" magazines, with Meredith marketing Martha Stewart Living Omnimedia's magazines and digital assets alongside its own brands. Martha Stewart Living Omnimedia, Inc. (NYSE:MSO) was up 21% at $4.48 in recent trading shortly after Thursday's open. It has a 52-week range of $2.21 to $5.50. Meredith Corporation (NYSE:MDP), meanwhile, slipped 1.8% to $43.69, in a 52-week range of $40.11 to $53.84.Under the terms of the agreement, Martha Stewart Living Omnimedia's editorial team will continue to create all content for print and digital properties while Meredith will assume responsibility for the sales and marketing of www.marthastewart.com and www.marthastewartweddings.com and MSLO's related digital assets including its video library. MSLO will retain control over the brand's social media channels. The agreement, which applies to the U.S. and Canada, is effective Nov. 1, 2014. MSLO expects the partnership and related cost savings to boost its operating income by as much as $10 million to $15 million annually. The agreement will result in a Q4 restructuring charge, principally for severance, of approximately $2 million to $3 million, it added.Amazon.com, Inc. (NASDAQ:AMZN) said it is creating 80,000 seasonal positions across its U.S. network of fulfillment and sortation centers this holiday season in order to meet an increase in customer demand. Last year, Amazon converted thousands of seasonal employees into regular, full-time roles after the holidays, and expects to do the same this year. So far this year, it converted more than 10,000 seasonal employees in the U.S. into regular, full-time roles. Amazon.com, Inc. (NASDAQ:AMZN) now has more than 50 fulfillment centers in the U.S. and will have more than 15 sortation centers by the end of 2014.Mattel, Inc. (NASDAQ:MAT) reported Q3 results that were down from the same period a year ago and missed consensus on EPS and total revenues. The toy manufacturer reported Q3 EPS of $1.01, excluding items, down from $1.16 in Q3 2013 and missing analyst estimates of $1.02 for the quarter. Total revenue of $2.02 billion was down from $2.20 billion in Q3 2013 and missed analyst projections of $2.2 billion. The company reported both North American gross sales and International gross sales were down 7%. Worldwide gross sales by core brands saw Barbie down 21%, Hot Wheels up 5%, Fisher-Price down 16% and American Girl down 7%.The Board declared a Q4 dividend of $0.38 per share, reflecting an annualized dividend of $1.52 per share. "While third quarter results did not meet our expectations, they do reflect progress towards achieving our goal to end the year with improved POS momentum and reduced inventory levels," said Bryan G. Stockton, Chairman and CEO of Mattel. "Global POS was positive in the quarter, and inventories at retail, both in the U.S. and in international markets, were lower." Shares of Mattel, Inc. (NASDAQ:MAT) are at $30.54 within a 52-week range of $29.80 - $47.94.

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