Hight John sold $299K of HAS

Mattel reported Q2 net sales of $1.12B, above LSEG’s $1.10B estimate, but adjusted profit was 1 cent per share versus a 4-cent estimate. Mattel cited tariffs, inflation, higher royalties, and currency moves, with adjusted gross margin down to 48.6% and operating income down 60% on higher marketing. It reaffirmed FY EPS $1.27-$1.39 and sales growth 3%-6%.

Hasbro won a London High Court copyright case against SConnect, the Vietnamese company behind the “Wolfoo” children’s animation franchise. A judge ordered removal of Wolfoo videos from platforms including YouTube, finding repeated use of Peppa Pig audio across 92 English-language videos and about three-quarters of foreign-language samples. The court issued a broad injunction covering multiple territories.

Hasbro said Wizards of the Coast president John Hight will step down effective Sept. 1, moving to an advisory role. Hasbro reported Wizards’ most successful fiscal year in 2025, with 45% YoY revenue growth. Magic: The Gathering posted record $1.72B annual revenue, up 59%, and surpassed $500M quarterly revenue. Hasbro said Wizards’ business strength and 2027 video game plans remain on track.

Hasbro’s Q2 2026 earnings call highlighted Magic: The Gathering growth driven by larger initial print runs, a “GEM Squared” strategy, and recovery in North America consumer products. Management raised full-year revenue guidance to 5%-7% growth, expects digital spend to peak in 2026 with a 25% reduction by 2028, and recorded a $56 million digital impairment. Wizards margins projected high 30s to low 40s through 2027, plus at least $200 million in buybacks.

Hasbro CEO Chris Cocks, appointed in 2022, is shifting the company toward card games and adult demand. Hasbro reported 16% revenue growth to $1.14 billion, above analysts’ $1.07 billion, helped by Magic: The Gathering revenue up 32% to over $500 million, plus toy sales rising. Hasbro plans to cut video game spending by at least 25% yearly.

Stocks rose as chipmakers and AI-infrastructure shares rebounded. The iShares Semiconductor ETF (SOXX) gained over 3%, while Sandisk (SNDK), Micron (MU), Western Digital (WDC), and others rose. Bitcoin hit a 1-month high, lifting Coinbase (COIN) and Circle (CRCL). Hasbro (HAS) reported Q2 net revenue $1.14B and raised guidance; 3M (MMM) beat EPS and lifted outlook.