JAKKS Pacific falls after forecasting 2008 profit below expectation
JAKKS Pacific, Inc. (Nasdaq:JAKK) shares are falling more than 12% after the Malibu-Calif.-based toy maker forecast 2008 profits of $2.91 per share, which is lower than Wall Street’s expectation of $2.97 per share. In morning trading, 1.1 million shares of JAKKS have been traded versus an average of 547,000 shares.
In Wednesday morning trading, JAKK shares are falling 11.44%, or $3.14, at $24.30. For detailed price information and recent news stories about JAKKS Pacific, click JAKK.
