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Toy Companies Surging On Reports Of Potential Combination

The Wall Street Journal reported Monday that Hasbro Inc. (HAS) has made an offer to acquire rival toy company Mattel Inc. (MAT).

Hasbro has gapped open sharply higher this morning and is now up 5.16 at $96.61 on above average volume. The stock has climbed to a 2-week high and has re-crossed its 50-day moving average.

Mattel has also gapped up sharply this morning and is currently higher by 2.88 at $17.50 on above average volume. The stock has broken out to a 3-month high.

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