Spin Master sees sales, earnings decline in second quarter amid weaker order volume
BNN Bloomberg
Spin Master Corp. says it earned US$28 million in the second quarter, down from US$88.1 million a year earlier.
The Toronto-based toy and entertainment company says revenue was US$420.7 million, down from US$506.3 million during the same quarter last year.
Earnings per diluted share were 26 cents, down from 83 cents.
Toy revenue for the company was US$346.3 million, down from US$437.6 million last year.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
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Canadian and U.S. stock markets gained ground on Wednesday as oil prices fell and tech stocks rose on both sides of the border.
Nvidia CEO CEO Jensen Huang has started his keynote at the chipmaker’s annual developer conference in San Jose, Calif., where he is set to detail its hardware and software plans.
Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60 per cent in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations.
Larry Berman says he can see a day in 2027 when the top 10 stocks in the S&P 500 are 50 per cent of the index similar to the Invesco QQQ Trust Series 1 (QQQ) today that seem destined to move significantly higher.
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Member countries of the International Energy Agency could release more oil into the market later “as and if needed” after they have already agreed the largest-ever reserve release, Executive Director Fatih Birol said on Monday.
Oil prices are down, and stocks are up Monday, though such moves have been quick to reverse since the war in Iran began.
Statistics Canada says the annual rate of inflation dipped below two per cent in February as the end of last year’s federal “tax holiday” helped take some steam out of the yearly price comparisons.
Middle Eastern sovereign wealth funds and state-backed companies are unlikely to scale back renewable energy investments in Africa despite disruptions from the Iran war, analysts say, given the strong long-term economic and strategic reasons driving such funding.
Crude oil stayed above US$100 a barrel on Monday and Gulf countries reported more attacks by Iran as the war entered its third week, while share prices were mixed.
Representatives from Beijing and Washington began their economic and trade talks in Paris on Sunday, Chinese official news agency Xinhua reported.