Hasbro Drops 3%, Announces Layoffs - Adviser Investments

Hasbro Drops 3%, Announces Layoffs

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Monday, October 22. The NASDAQ and Dow Jones Industrial Average fell 0.5% and 0.4%, respectively, while the S&P gained 0.3%. Toy manufacturer Hasbro declined more than 3% after announcing employee layoffs and a 12% year-over-year revenue drop. Hasbro blames this sales slump and “disruptive year” on Toys “R” Us’ September 2017 Chapter 11 bankruptcy and subsequent liquidation.

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