Tuesday was a volatile day on Wall Street, with most major benchmarks climbing to initial gains before finishing in the red. Quarterly results kept investors on their toes, with both positive and negative news coming from some of the most closely watched companies in the U.S. economy. Even though many stocks managed to post solid gains, bad news hit some companies hard. Hasbro (NASDAQ: HAS), Del Taco Restaurants (NASDAQ: TACO), and Howard Hughes (NYSE: HHC) were among the worst performers. Here's why they did so poorly.
Shares of Hasbro plunged 17% after the toy maker announced disappointing third-quarter financial results. Hasbro reported a roughly 1% gain in revenue, with flat performance internationally and a slight decline in its core U.S. and Canada toy business. The company said that revenue from its entertainment, licensing, and digital segment jumped 20% from year-ago levels, but weakness in its gaming category and its franchise brands business held back its growth. Tariffs on Chinese imports have been especially difficult for Hasbro to overcome, and investors have to hope that those levies will go away and that strength in partner-branded product sales will provide a lift to Hasbro's overall results in the future.
Image source: Hasbro.