Weekly Roundup: Hasbro Rallies, Meta Drops, GM Suffers Worst Week Since 2023
Today's biggest winners and losers in the stock market. On this episode of Stock Movers, we take a look at some of the week's biggest gainers and decliners: - Hasbro (HAS) shares rallied this week after the toymakers boosted its adjusted Ebitda guidance for the full year. The improved guidance beat the average analyst estimate. Bloomberg Intelligence analyst Lindsay Dutch says Hasbro’s raised outlook reflects further strength and better-than-expected growth for its Magic: The Gathering game. - Meta (META) shares fell after Chief Executive Officer Mark Zuckerberg told investors the company would bet even more aggressively on artificial intelligence. Meta shares fell more than 7% to as low as $648.26, and its credit risk gauge reached a record high. The price of five-year credit default swaps on the company’s debt, which increases as investor concern grows, rose as much as 8.9 basis points to around 119.3 basis points a year, according to ICE Data Services. - GM (GM) shares recorded their worst week in nearly three years, leading a wider selloff in automotive stocks on Friday. Yet, bullish Wall Street analysts are doubling down on the carmaker. GM’s stock fell 9.6% this week, its largest such drop since November 2023, and analysts are saying investors should buy the dip. Shares of GM added to losses on Friday, declining side-by-side with weakness in makers of car parts. Electro-optic technology producer Gentex Corp. and safety system firm Autoliv Inc. both slumped after reporting results premarket. See omnystudio.com/listener for privacy information.