Yahoo Finance Stock selloff continues; Hasbro/Mattel talk; Budweiser Super Bowl ads
Wall Street is kicking off the week with more pain. All three major averages (^DJI, ^GSPC, ^IXIC) are deep in the red with technology shares continuing to lead the declines, as oil (CLH16.NYM) resumes its slide after a brief rally.
While China's markets are closed this week for the Lunar New Year holiday, data over the weekend showed China's foreign currency reserves fell by almost $100 billion in January, to the lowest level in more than three years.
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Hasbro (HAS) reported a beat on both its top and bottom lines for its holiday quarter. Strong demand for boys' toys based on "Star Wars" and "Jurassic World" helped Hasbro post its biggest jump in quarterly revenue in five years.
LeapFrog (LF) is being bought by Hong Kong's VTech, which will buy the maker of electronic educational toys for $72 million in cash.
GoPro (GPRO) inked a patent licensing deal with Microsoft that will cover file-storage technology. However the two companies did not provide any further details. This comes after GoPro reported weak fourth-quarter results last week.
Chipotle (CMG) is in the spotlight this morning. The burrito chain is closing all its stores until 3 p.m. today for a company-wide meeting on food safety. The meeting comes after Chipotle reported its worst quarter as a public company as food scares, including E. coli and norovirus cases, took a big toll on sales. The company is trying to restore its tarnished image by rolling out its largest marketing campaign this week.
Twitter (TWTR) was not happy over the weekend following a Buzzfeed report that the company may soon switch to an "algorithmic" method of displaying tweets by relevance instead of showing them in reverse-chronological order. Twitter's is scheduled to report quarterly results on Wednesday.
Ford to expand in Mexico: report
Presidential hopeful Donald Trump may have issues with Mexico, but Ford (F) apparently doesn't! The Wall Street Journal says the automaker is vastly expanding production south of the border, planning to build a new factor and doubling the output of vehicles coming from Mexico.
Super Bowl ad buzz
Super Bowl 50 is in the books, with the Denver Broncos raising the Vince Lombardi trophy. But who won when it comes to Super Bowl ads? Yahoo Finance's Dan Roberts gives us some of the winners and losers in video above.
