U.S. job openings drop to 6.43 million in December from 6.79 million

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Hasbro’s stock surges after profit beats expectations

Shares of Hasbro Inc. surged 5.1% toward a 4-month high in premarket trading Tuesday, after the toy seller reported a fourth-quarter profit that was well above expectations, while revenue came up a bit short. Net income increased to $267.3 million, or $2.01 a share, from $8.8 million, or 7 cents a share, in the year-ago period. Excluding non-recurring items, such as a one-time currency gain from hedging activities as part of the eOne acquisition, adjusted earnings per share came to $1.24, beating the FactSet consensus of 90 cents. Revenue rose 3% to $1.43 billion, boosted by “strong demand” for Disney’s “Frozen 2” and “Star Wars” products, but was below the FactSet consensus of $1.44 billion. For 2019, partner brands revenue, which includes sales of “Frozen 2,” “Avengers,” “Spider-Man” and “Star Wars” products, rose above expectations, while franchise brands and Hasbro gaming revenue fell below expectations. The stock has gained 5.6% over the past three months through Monday, while the S&P 500 has advanced 8.6%.

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