Hasbro Climbs Off Worst Levels But Remains Firmly Negative

(RTTNews) - After gapping open significantly lower, shares of Hasbro Inc. (HAS) have climbed off their worst levels of the day but remain firmly negative in afternoon trading on Monday. Hasbro is currently down by 3.1 percent after hitting its lowest intraday level in nearly four months.

The initial drop by Hasbro came after the toymaker reported third quarter results that came in below analyst estimates due in part to lost Toys "R" Us revenues.

Hasbro reported adjusted third quarter earnings of $1.93 per share on revenues of $1.57 billion compared to analyst estimates for earnings of $2.23 per share on revenues of $1.71 billion.