Why Hasbro, Inc. (HAS) Went Up On Thursday?

We recently published a list of 10 Firms Stand Out Amid Market Downturn. In this article, we are going to take a look at where Hasbro, Inc. (NASDAQ:HAS) stands against other firms that stand out amid market downturn.

Pessimistic sentiment persisted on the stock market on Thursday as investors moved to sell off shares in an effort to minimize risks from uncertainties brought about by President Donald Trump’s continued tariff threats and policy shifts.

The Dow Jones plunged 1.01 percent, the S&P 500 declined 0.43 percent, and the tech-heavy Nasdaq lost 0.47 percent.

Amidst the overall market downturn, 10 companies stood out, clocking in double-digit gains during the trading session, thanks to a flurry of positive catalysts including strong corporate earnings results.

To come up with Thursday’s top performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A child playing with their toy in their home, showing their joy for Hasbro products.

Hasbro, Inc. (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) surged by 12.95 percent on Thursday to end at $69.06 apiece as investors cheered news of improved earnings performance and continued revenue growth expectations this year despite the threats of tariffs.

In a statement, HAS said it was able to slash its net losses attributable to the company for the fourth quarter by 97 percent to $34.3 million from $1.06 billion in the same period last year, despite revenues dropping by 14.5 percent to $1.1 billion from $1.288 billion.

It also swung to a net income of $385.6 million in full-year 2024 from a $1.49-billion net loss in 2023, despite revenues declining by 17 percent to $4.13 billion from $5 billion year-on-year.

For this year, HAS CEO Chris Cocks said the company would bring to the market “a stellar lineup” of toys and games to fans, expanding the reach of its Intellectual Property through partnerships while continuing to focus on operational rigor and anticipating the future of play.

Overall, HAS ranks 6th on our list of firms that stand out amid market downturn. While we acknowledge the potential of HAS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HAS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.