Democrats such as Elizabeth Warren had their eye on business and the working class during the first 2020 presidential primary debate in Miami.2020 Electionsread more
Huawei's legal chief told CNBC that the company makes "solutions for civil use."Technologyread more
The issue over health insurance marked the first stark divide among the candidates, and sparked a heated back-and-forth between many of the candidates on stage.Politicsread more
Four candidates mentioned China — but none of the Democratic contenders brought up trade in the debate.Politicsread more
In a strategy to draw attention away from Wednesday's Democratic debate, President Donald Trump's reelection campaign bought out YouTube's "masthead," the leading...2020 Electionsread more
The Federal Aviation Administration said on Wednesday that is has found an issue with the Boeing 737 Max that the manufacturer must address before it lifts the grounding...Airlinesread more
The collapse of the deal potentially ended Sinclair's hopes of building a national conservative-leaning TV powerhouse that might have rivaled Fox News.Mediaread more
Huawei legal chief Song Liuping told CNBC that the company is in the "early phase" of talks with Verizon over paying royalties.Technologyread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
U.S. President Donald Trump on Thursday asked India to withdraw retaliatory tariffs that New Delhi imposed this month, calling the duties "unacceptable."World Economyread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
It seems Wall Street is losing faith in Barbie-maker Mattel.
Lackluster first-quarter sales and a weaker-than-expected gross margin have lead to questions about whether the toy maker can complete its promised turnaround.
Shares of the company closed over 13 percent lower on Friday, last changing hands at $21.79.
Mattel blamed retail inventory overhang from the holidays for the 15 percent drop in sales that impacted its most famous brands including Barbie, Fisher-Price and American Girl.
The company had forecast in its fourth-quarter earnings report that year-end inventories would negatively impact 2017 revenue by less than 2 percent. Mattel's CEO Margo Georgiadis said during an earnings conference call Thursday that the overhang is largely behind the company.
The toy company posted a loss of 32 cents per share, excluding items. That was worse than the expected loss of 17 cents per share, according to a consensus of analysts polled by Thomson Reuters.
Mattel reported net revenue of $736 million for the quarter, below estimates for $801 million. A year ago, Mattel had a loss of 13 cents a share and revenue of $869.4 million.
"[The first quarter] is seasonally less important, but nonetheless a disappointing start to the year," Drew Crum, an analyst at Stifel, wrote in a research note Thursday. "While we think performance will improve beginning in 2Q with the theatrical release of 'Cars 3' driving growth, our confidence around sustaining the dividend continues to wane, which could serve as an overhang for the shares, at least near-term."
Mattel adjusted its 2017 outlook because of the disappointing first-quarter results, now expecting revenue growth to be in the mid-single digits. In February, the company said that it had expected revenue to grow in the mid- to high-single digits.
"Given the missteps seen in four of the last five years, we are skeptical about the current turnaround," Eric Handler, managing director of MKM Partners, wrote in a research note Friday.
Handler said that a lot is riding on the success of "Cars 3" toys, which are slated to garner about $300 million in sales for the company. Mattel will likely also see a boost from sales of "Wonder Woman" toys.
Linda Bolton Weiser, senior analyst at B. Riley. told CNBC earlier this week that the comparisons between the first and second quarter will be "night and day" for the toy industry. She said that the inventory issues from the fourth quarter will have been worked through and companies will begin to reap the benefits of entertainment licenses.