Stocks fell Monday, and traders instead flocked to the safe haven of U.S. Treasuries. Healthcare stocks were among the worst performers as new polls showed Democratic nominee Hillary Clinton widening her lead over Republican challenger Donald Trump. The S&P 500 lost 0.3% while the Dow Jones Industrial Average declined 0.29%. The Nasdaq Composite slipped 0.27%.
Stocks as a whole started the week on a glum note, but Wall Street did feature at least a few gems. Hasbro, Inc. (NASDAQ:HAS), Take-Two Interactive Software, Inc. (NASDAQ:TTWO) and United States Steel Corporation (NYSE:X) were among those in the lucky minority.
Hasbro, Inc. (HAS)
Toymaker Hasbro surged 7.4% on more than seven times the usual volume after the company reported third-quarter results that easily topped Wall Street estimates.
Rhode Island-based HAS earned $2.03 per share during the quarter, up from $1.64 a share a year earlier and way better than the $1.74 that analysts expected. Meanwhile, revenues shot up from $1.47 billion to $1.68 billion — record quarterly revenue, and better than estimates for $1.57 billion.
Giving Hasbro its mojo? Walt Disney Co (NYSE:DIS) princesses and Frozen dolls, which it stole from Mattel, Inc. (NASDAQ:MAT) a while back.
Take-Two Interactive Software, Inc. (TTWO)
Shares of video game maker Take-Two Interactive Software, Inc. jumped 5% on nearly quadruple the average daily volume as excited gamers believe the company is teasing a much-anticipated follow-up to a beloved title.
Following a pair of social media posts, the first of which appeared Sunday morning, speculation is swirling TTWO is teasing a followup to Red Dead Redemption, a Wild West-themed game that was released in 2010. It was a hit among critics and players alike.
TTWO also publishes the popular Grand Theft Auto series, but Red Dead drew acclaim for its relative seriousness to GTA. It’s also widely viewed as having one of the best storylines in video game history.
Monday’s surge pushed TTWO back above its 50-day moving average, which shares plunged through earlier this month.
United States Steel Corporation (X)
Steelmaker United States Steel Corporation soared 3.4% following a favorable mention in financial magazine Barron’s.
Barron’s notes that shares of X have the potential to deliver gains of up to 50% over the next year. X has more than doubled this year as China has pared some steel production and the U.S. government has taken steps to defend U.S. steelmakers by levying hefty tariffs on foreign producers flooding the market with cheap supply.
After trading above $27 earlier this year, X has succumbed to profit-taking and is down more than 20% over the past 90 days.
As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.
