Mattel Falls After Huge Q3 Miss, Suspension Of Dividend

Mattel, Inc. MAT shares are trading lower by $2.22, or 14 percent, at $13.13 in Friday' s session.

After the close on Thursday, the company posted a Q3 EPS miss of 50 cents on lower revenues by $26 million. The company also announced it's suspending its dividend.

Following a much lower open, Mattel immediately bottomed at $12.71 and began to rebound. That low comes in between its April 2009 low ($11.27) and its May 2009 low ($13.88). Since reaching that depressed level, it has climbed back into the $13.00 and continues to make new highs for the day.

As of 10:34 a.m. EST, the high for session stands at $13.34.