To: Matt Kaarlela who wrote (482 ) 10/11/1999 4:31:00 PM From: 2MAR$ Read Replies (1) | Respond to of 1239
(REUTERS) Toy showcase, Pokemon give pop to toy stocks Toy showcase, Pokemon give pop to toy stocks By Kristin Roberts NEW YORK, Oct 11 (Reuters) - Toy company stocks felt a pop on Monday as small investors on Wall Street predicted Pokemon would continue to craze kids well into next year. "Clearly, the Pokemon phenomenon shows no sign of let-up, and in fact many observers are of the opinion that Pokemon will be bigger next year than this year," said David Leibowitz, an analyst with Burnham Securities. Pokemon-related companies watched their stocks push higher, with some hitting record levels, as investors geared up for Wednesday's toy showcase in New York and the Pokemon movie from Time Warner Inc.'s <TWX.N> Warner Brothers hitting screens in November, analysts said. Most of the trades boosting toy stocks were in small blocks of 100 to 500 shares, indicating that individual investors instead of institutional traders were taking positions, analysts said. Individuals on Internet trading Web sites were chatting up the toy stocks Monday. Shares of 4Kids Entertainment Inc. <KIDE.O>, which distributes the Pokemon animated television program, posted the most dramatic gains, rising more than nine points to a new 52-week high of $49.25. 4Kids' licensing division, Leisure Concepts Inc., is the exclusive agent for Nintendo of America for the Japan-born Pokemon character. Pokemon is a product of video game maker Nintendo Co. Ltd. <7974.OS>. Grand Toys International Inc. <GRIN.O>, the Pokemon distributor in Canada, gained $1.25 to $12.19 on the Nasdaq market, up from a 52-week low of $1.875. Even sports trading card maker Topps Co. Inc. <TOPP.O> inched up to $8.31, off a low of $2.56. The company said previously that it struck a deal to market Pokemon trading cards and lollipops throughout the Americas. Pokemon's popularity is not just confined to one side of the Atlantic, analysts said. "The word coming out of the U.K. and other parts of Europe is that Pokemon is really strong and just right out of the box got off to a very strong start," said Sean McGowen, analyst at Gerard Klauer Mattison. Shares of larger toy makers such as Hasbro Inc. <HAS.N> and Mattel Inc. <MAT.N> also gained ground Monday, but more modestly, as they readied for Wednesday's showcase. Hasbro gained $1.75 to $21.94, off a high of $37. Hayley Kissel, an analyst with Merrill Lynch, noted that Hasbro is set to report strong third-quarter earnings this week that may beat Wall Street targets. ((Wall Street Desk 212-859-1730)) REUTERS *** end of story