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Stock Market & Financial Investment News

News Breaks
February 7, 2014
10:39 EDTATVI, EA, TTWOActivision Blizzard hits new 52-week high after game pipeline impresses
Shares of diversified gaming company Activision Blizzard (ATVI) hit a new 52-week high after posting stronger than expected fourth quarter results and announcing that its pipeline of games was the "strongest in company history." WHAT'S NEW: Last night, Activision Blizzard reported Q4 adjusted EPS of 79c and revenue of $2.27B against consensus views of 73c and $2.22B respectively. The company‘s first quarter and fiscal 2014 outlook slightly trailed expectations, however, CEO Bobby Kotick said, "As we look to 2014 and beyond, we have the strongest and most diverse pipeline of games in our history. In 2014, we expect these releases to enable us to grow non-GAAP revenues year over year and generate record non-GAAP earnings per share." ANALYST REACTON: This morning, research firm Brean Capital said Activision posted strong Q4 results in a difficult macro environment. The firm saw improving industry fundamentals, a strong release slate, and proven execution as reasons for increasing its price target to $22 from $20. It also reiterated its Buy rating on the shares. PRICE ACTION: In early morning trading, Activision Blizzard rose $2.19, or about 13% to $19.35 on very heavy volume. Earlier in the session, the stock made a new 52-week high of $19.95, and it has gained approximately 60% over the past twelve months. OTHERS TO WATCH: Activision’s competitors include Electronic Arts (EA) and Take-Two Interactive (TTWO).
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April 11, 2014
08:15 EDTEAElectronic Arts price target raised to $35 from $32 at Cowen
Cowen raised its price target on Electronic Arts citing the continuation of the console cycle, improved visibility on new titles, and the entrance into strong seasonality. Shares are Outperform rated.
07:59 EDTATVIActivision Blizzard could be pressured by lock-up expiration, says Argus
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April 7, 2014
07:46 EDTATVITurtle Beach reaches licensing agreement with Blizzard Entertainment
Turtle Beach, the gaming audio brand of Parametric Sound (PAMT), announced a new multi-year licensing agreement with Blizzard Entertainment, a subsidiary of Activision Blizzard (ATVI) around the Heroes of the Storm multiplayer game. As part of the agreement, Turtle Beach will develop PC gaming headsets for players.

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