Why Organovo, eBay, Mattel, Alphabet, and More Are in the Spotlight

Mattel, Inc. (NASDAQ:MAT) shares have surged by over 5% in extended-market trading after the toy maker reported its third quarter results. For the period, Mattel earned $0.70 per share on revenue of $1.80 billion, largely in-line with the Street’s estimates of $0.71 per share in earnings and $1.77 billion in sales. Although sales rose by only 0.6% year-over-year on an as-reported basis, they increased by 2% on a constant currency basis. Traders were also heartened by Mattel’s operating margin, which inched up by 90 basis points to 17.7%.

“Our core brands continue to show improved strength and vibrancy, contributing to very encouraging and broad-based top-line momentum. And we continued to manage costs effectively, while making important investments in brand building, commercial excellence and emerging market expansion. Overall, our strategies are generating good progress on many fronts, and while we still have a critical fourth quarter to execute, we remain broadly on track to deliver on our full-year outlook,” CEO Christopher Sinclair said.

34 funds tracked by Insider Monkey were long Mattel, Inc. (NASDAQ:MAT) at the end of June, down by three quarter-over-quarter.

According to the Wall Street Journal, Alphabet Inc (NASDAQ:GOOG) recently scored a major victory in its quest to capture cord-cutting market-share. Alphabet’s Google unit has persuaded CBS Corporation (NYSE:CBS) to offer broadcast content through its planned web TV service, which will likely launch early next year. Although CBS is the first major television network to be included, Alphabet’s Google division is either close to similar agreements, or is in advanced talks for channels owned by Walt Disney Co (NYSE:DIS), NBCUniversal, and 21st Century Fox. According to the WSJ, the web TV service will be named ‘Unplugged’ and will cost between $25 and $40 per month.

126 funds that we track owned Class C shares of Alphabet Inc (NASDAQ:GOOG) at the end of the second quarter, off by 16 funds from the end of the previous quarter, while 135 owned its Class A shares, down by 20 quarter-over-quarter. Meanwhile, 59 funds were long CBS Corporation (NYSE:CBS) at the end of the second quarter, owning 8.00% of its float.

Disclosure: None