Magic Empire Global says bid price deficiency concern successfully resolved
Compliance with Nasdaq Requirements: Magic Empire Global has resolved its bid price deficiency concern and received notification from Nasdaq that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Timeline of Events: After initially being notified of non-compliance on February 26, the company demonstrated compliance by maintaining a closing bid price of $1.00 or greater for ten consecutive business days, leading to the closure of the prior bid price deficiency matter.
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Hasbro beats second-quarter expectations as gaming division offsets tariff-fueled toy slump
Hasbro's Financial Performance: Hasbro reported a net loss of $855.8 million for the second quarter, attributed to a $1 billion goodwill impairment and tariff impacts, despite a 16% increase in revenue from its digital gaming division, particularly from Magic: The Gathering and Monopoly Go!.
Future Outlook: The company raised its full-year guidance, expecting mid-single-digit revenue growth and adjusted EBITDA between $1.17 billion and $1.2 billion, while also implementing cost reductions and pricing strategies to mitigate tariff effects.
Dow Surges 150 Points; Disney Posts Upbeat Q2 Results
U.S. Stock Market Performance: U.S. stocks rose this morning, with the Dow Jones gaining over 150 points, driven by Walt Disney's better-than-expected fiscal results and a notable surge in shares of Asset Entities Inc. after announcing a merger agreement.
Global Market Trends: European shares declined, while Asian markets showed mixed results; additionally, U.S. mortgage applications increased by 11% from the previous week, indicating a potential uptick in housing activity.
