MattelNASDAQ: MAT

BEDMINSTER, N.J., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) announces that negotiations under the previously disclosed non-binding term sheet regarding global rights to MAT2203, its oral formulation of amphotericin B, have been terminated following notification from the prospective partner. As a result, Matinas has implemented an 80% workforce reduction effective immediately, eliminating 15 positions including three members of senior management, and has ceased all product development activities to conserve cash.

Top global toy maker Mattel is a solid little company ripe for an acquisition by one of the content-short techies. Its gross margins and cost controls contribute value that a stagnant revenue line cannot until its TV and film IP value is recognized. We think at $19 it's a strong buy with low risk.

Mattel, Inc. MAT shares are trading higher on Thursday. Analysts adjusted the company's price target following the third-quarter results reported on Wednesday.

MAT's third-quarter 2024 results reflect benefits realized from the Optimizing for Profitable Growth program amid soft sales trends worldwide.

Mattel and Hasbro decreased guidance for the end of the year as toy sales continue to drop during the third quarter. The lowered guidance comes before the holiday season, where softened results could have major major effects for retail companies like Mattel and Hasbro.

Mattel has lowered its sales forecast for the year, in large part due to a 17% decline in gross billings for Barbie merchandise during the third quarter.

While the top- and bottom-line numbers for Mattel (MAT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Mattel (MAT) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.08 per share a year ago.

Mattel Inc. reported mixed third-quarter results, as a drop in demand for Barbie toys weighed on sales overall — but management said it expects a solid holiday season ahead and a toy-centric film lineup that could help drive sales.