More Than Meets The Eye
With Iron Man, Indiana Jones and other product tie-ins, will Hasbro be this summer's blockbuster stock?
Hasbro CEO Al Verrecchia joins the panel for this conversation. Following is a synopsis of his main points (It’s worth noting that Verrecchia will step down from his post on May 22nd.
The two best things for Hasbro right now are our boys business and our girls business, replies Verrecchia. Transformers and Star Wars continue to do well as do My Little Pony and Littlest Pet Shop. The same brands that drove the business in ’07 are driving it in ’08.
What are you expecting from your summer movies tie-ins?
I’m not expecting another Star Wars but I think Iron Man and Indiana Jones will be stronger than people anticipate, Verrecchia replies. Also we expect Transformers, Star Wars and SpiderMan to remain among the top boys properties again this year, just like they were last year.
Is the economy affecting your business?
The economy isn’t as bad as one might think, replies Verrecchia. Sales are okay. And I also feel if you carve away the financial markets and just look at the rest of the business world, it’s not that bad.
Traders what do you think?
I think Hasbro is the best player in the industry, says Jeff Macke.
I wouldn’t jump in now but it’s okay to buy on a dip, adds Guy Adami.
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Trader disclosure: On Apr. 21, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (DIS), (YHOO), (MSFT), (HAS), (INTC); Najarian Owns (AAPL), (XLF), (YHOO), (UA) (NOK); Najarian Owns (BHI) Calls, (CHK) Calls, (MSFT) Calls, (RSH) Calls, (POT) Calls, (ICO) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (MSFT); Finerman's Firm Owns (SUN), (TSO), (VLO), (WMT), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns Shares Of Expro International Group PLC; Finerman's Firm Is Short Pounds; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money."