Mattel aims to make 80% of its games colorblind accessible by the end of the year, before raising that amount to 90% in 2025, the company announced Tuesday.Mattel said the move is part of an inclusivity effort and will target some of its most popular products, including Uno, Phase 10, Dos, Blokus and Tumblin' Monkeys games, according to a press release. The toy manufacturer's portfolio-wide changes will ensure that classic colors are not the only way to differentiate cards or components for the majority of ...

BEDMINSTER, N.J., June 24, 2024 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB), a clinical-stage biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nanocrystal (LNC) platform delivery technology, announces the recent successful treatment of a 22-year-old male with polymicrobial necrotizing fasciitis (flesh-eating disease) that involved drug-resistant Lichtheimia, an angio-invasive species of the fungus Mucorales. This patient was treated at N ...

Targeting IDE397 Phase 2 monotherapy expansion dose clinical data update in over ~15 evaluable MTAP lung and bladder cancer patients in H2 2024, including RECIST 1.1 clinical efficacy waterfall, swim-lane plot, ctDNA molecular response analysis, AE profile, PK and pharmacodynamicsInitiating IDE397 Phase 2 monotherapy expansion in MTAP bladder cancer, in addition to the earlier reported Phase 2 expansion in MTAP squamous lung cancerActivated over 35 clinical trial sites globally across the U.S., Canada, Euro ...

BEDMINSTER, N.J., June 13, 2024 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE American: MTNB), a clinical-stage biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nanocrystal (LNC) platform delivery technology, announces that MAT2203, its oral formulation of the potent antifungal amphotericin B, will be featured in a fireside chat with David S. Perlin, PhD, a recognized expert in antifungals. The event is being sponsored by Alliance Global Partners (A.G.P.) ...

Mattel, Inc. (MAT) is likely to benefit from an IP-driven toy business, entertainment offerings and digital initiatives. Also, the emphasis on the Optimizing for Profitable Growth program bodes well. However, an uncertain macroeconomic environment is a concern.Let us discuss the factors that highlight why investors should retain the stock for the time being.Factors Likely to Drive GrowthMattel is actively pursuing its strategy to expand its IP-driven toy business and entertainment offerings to drive growth. ...

Mattel, Inc. (MAT) recently announced a collaboration with Universal Pictures to create a live-action theatrical film, Monster High. The announcement follows MAT’s ongoing success with Hollywood studios in leveraging its intellectual property (IP), as evidenced by Barbie’s stellar performance last year.Based on the popular toy line, the movie follows the teenage offspring of famous monsters like Dracula, Frankenstein and the Wolfman as they navigate the challenges of high school.Launched in 2010, Monster Hi ...

Mattel, Inc. (MAT) has announced a strategic multi-year partnership with Outright Games, a top publisher of family-friendly interactive entertainment. This collaboration will launch three new games — Matchbox Driving Adventures, Monster High: Skulltimate Secrets and Barbie Project Friendship — across all consoles and PCs before the end of 2024.This partnership is a significant step in Mattel's strategy to deepen engagement in the digital gaming sector. Leveraging its iconic brands, Mattel aims to create com ...

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Financial Performance - Mattel's net sales for Q1 2024 were $809.5 million, a decrease of 1% from $814.6 million in Q1 2023[83]. - Gross billings in Q1 2024 were $898.9 million, down 1% from $911.3 million in Q1 2023, with a favorable currency exchange rate impact of 1%[85]. - Net sales for the North America segment increased by $7.3 million, or 2%, to $477.8 million in Q1 2024[92]. - Net sales for the International segment decreased by $12.4 million, or 4%, to $331.7 million in Q1 2024[97]. - Gross billings for the North America segment increased by $3.6 million, or 1%, to $506.4 million in Q1 2024[95]. - Gross billings for the International segment decreased by $16.1 million, or 4%, to $392.5 million in Q1 2024 compared to $408.6 million in Q1 2023, with a favorable impact from currency exchange rates of 2%[98]. Cost and Margin Analysis - Gross margin improved to 48.0% in Q1 2024, up from 40.0% in Q1 2023, driven by lower inventory management costs and cost savings[79]. - Cost of sales decreased by $68.2 million, or 14%, to $420.6 million in Q1 2024 from $488.8 million in Q1 2023[86]. - Cost of sales decreased by $17.6 million, or 9%, to $184.1 million in Q1 2024, contributing to an increase in gross margin to 44.5% from 41.4% in Q1 2023[99]. - Other selling and administrative expenses decreased by $11.8 million to $352.9 million, or 43.6% of net sales, in Q1 2024[89]. Cash Flow and Financial Position - Operating cash flows for the trailing twelve months were $1.11 billion, contributing to a cash balance of $1.13 billion at the end of Q1 2024, compared to $461.7 million in Q1 2023[79]. - Cash flows provided by operating activities were $35.5 million in Q1 2024, a significant improvement from cash flows used of $206.4 million in Q1 2023, driven by $165.3 million in working capital improvements[108]. - Mattel's cash and equivalents decreased by $131.1 million to $1.13 billion at March 31, 2024, primarily due to $100 million in share repurchases[110]. - Total debt remained stable at $2.33 billion as of March 31, 2024, consistent with the figures from December 31, 2023, and March 31, 2023[113]. - Stockholders' equity decreased by $123.9 million to $2.03 billion at March 31, 2024, primarily due to share repurchases of $100.0 million and a net loss of $28.3 million for the first three months of 2024[114]. Shareholder Actions - The Board of Directors authorized a new $1.00 billion share repurchase program, with $100.0 million executed in Q1 2024[79]. Sales Performance by Category - Dolls gross billings decreased by 4% in Q1 2024, primarily due to lower sales of Disney Princess and Disney Frozen products[85]. - Infant, Toddler, and Preschool gross billings fell by 10%, with 7% attributed to lower sales of Baby Gear and Power Wheels products[85]. - Vehicles gross billings increased by 5%, driven by higher sales of Hot Wheels products[85]. - Dolls gross billings decreased by 7%, primarily due to lower sales of Disney Princess and Disney Frozen products, while Infant, Toddler, and Preschool gross billings decreased by 13%[98]. Cost Savings Initiatives - The "Optimizing for Profitable Growth" program aims for annual gross cost savings of $200.0 million from 2024 to 2026[79]. - The Optimizing for Profitable Growth (OPG) program aims for targeted annual gross cost savings of $200 million by 2026, with approximately 70% expected to benefit cost of sales[100]. - The OPG program has recorded cumulative severance and restructuring charges of approximately $35 million as of March 31, 2024, with realized cumulative cost savings of approximately $17 million[102]. Other Financial Metrics - Interest income increased by $10.8 million to $17.3 million in Q1 2024 from $6.5 million in Q1 2023[90]. - Sales adjustments decreased to $89.4 million in Q1 2024, representing 11.0% of net sales, down from 11.9% in Q1 2023[85]. - Sales adjustments decreased to $28.6 million in Q1 2024 from $32.3 million in Q1 2023, representing 6.0% of net sales[95]. - Sales adjustments decreased to $60.8 million in Q1 2024 from $64.5 million in Q1 2023, with sales adjustments as a percentage of net sales remaining relatively flat at 18.3%[99]. - Accounts receivable decreased by $408.6 million to $673.3 million at March 31, 2024, primarily due to seasonal declines[110]. - Inventories increased by $97.7 million to $669.3 million at March 31, 2024, primarily due to seasonal inventory build[111]. - Accounts payable and accrued liabilities decreased by $224.4 million to $1.08 billion as of March 31, 2024, from $1.31 billion at December 31, 2023, due to seasonal declines in expenditure levels[112]. Currency Impact - Currency exchange rate fluctuations impacted Mattel's results, with a one percent change in the U.S. dollar estimated to affect net sales by approximately 0.3% and have less than a $0.01 impact on net income per share[122].

Mattel, Inc. (MAT) reported first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. The top line missed the consensus estimate for the second straight quarter.  The company experienced robust bottom-line performance, largely propelled by increased margins and the repurchase of $100 million worth of shares during the quarter, and remained aligned with its annual targets. It anticipates ongoing advantages from the Optimizing for Profitable Growth initi ...