Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Mattel (MAT) tanked in early trading after it announced it would suspend its dividend, accelerate cost-cutting and scale back new product launches after a huge earnings miss. Revenue dropped 13% worldwide, largely because of the Toys ‘R’ Us bankruptcy. Sales in nearly every toy brand and category, particularly American Girl, were down.
There are more headaches for Apple (AAPL) customers. Americans will most likely be waiting as long as five weeks for their new iPhone Xs. Apple started accepting early orders and shipping times grew lengthier, signaling tight supply before the device’s Nov. 3 release. The devices sold out in Hong Kong and the UK in a matter of hours.
Apple isn’t the only Bay Area giant with a production problem right now. Tesla (TSLA) shares were lower after the company slashed 40% of its orders for Model 3 parts from Hota. Taiwan’s Economic Daily News reports the company’s chairman said Tesla told them 2,000 orders would be cut due to a “bottleneck” in production. Hota shares were down over 7% in Friday trading in Taipei.
Expedia (EXPE) shares fell early Friday after quarterly profit and revenue missed Wall Street expectations. This was also the company’s first earnings report without long-time CEO Dara Khosrowshahi, who left the company to take the same role at Uber back in August. Separately, Britain’s competition regulator said it’s looking into multiple hotel booking websites over concerns they don’t, in fact, find the best deals.