MEGL

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.

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.

Porch Group Financial Results: Porch Group, Inc. shares surged 21.4% in pre-market trading after reporting better-than-expected first-quarter earnings of 8 cents per share and sales of $104.75 million, along with raising its FY25 sales guidance above estimates.

Market Movers: Several stocks experienced significant movements in pre-market trading, including Magic Empire Global Limited (+77.3%), CuriosityStream Inc. (+24.2%), and notable declines for Vast Renewables Limited (-62.5%) and WW International, Inc. (-46.8%).