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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).
News For ATVI;EA;TTWO From The Last 14 Days
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July 23, 2014
15:02 EDTEAElectronic Arts downgraded to Hold from Buy at Benchmark Co.
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09:47 EDTEAElectronic Arts falls after earnings report, levels to watch
The shares are down 3.4% to $37.12 at time of writing, bouncing off the session low at $36.19 which is now support. Resistance is at $38.38. The company reported last night after the close, beating for the reported quarter. The company's view for FY15 adjusted EPS is now $1.85, below consensus of $1.89. Price targets were upped at three firms: UBS to $40, Piper Jaffray to $44, and Stifel to $46.
07:38 EDTEAElectronic Arts price target raised to $40 from $35 at UBS
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07:17 EDTEAElectronic Arts price target raised to $46 from $42 at Stifel
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05:43 EDTEAElectronic Arts price target raised to $44 from $38 at Piper Jaffray
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July 22, 2014
16:05 EDTEAElectronic Arts sees Q2 adjusted EPS 50c, consensus 51c
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16:05 EDTEAElectronic Arts sees FY15 adjusted EPS $1.85, consensus $1.89
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16:03 EDTEAElectronic Arts reports Q1 adjusted EPS 19c, consensus (4c)
Reports Q1 non-GAAP revenue $775M, consensus $713.24M. The company said, “EA delivered first quarter EPS above prior year and our guidance through a combination of revenue growth, higher gross margins and lower operating expenses. We have gotten off to a great start and are encouraged by the trends in our industry and business."
15:30 EDTEANotable companies reporting after market close
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15:14 EDTEAElectronic Arts July weekly 38.5 straddle priced for 7.2% move into Q1
11:20 EDTEAElectronic Arts July weekly volatility increases into Q1 and outlook
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July 21, 2014
07:34 EDTEAElectronic Arts execution should lead to multiple expansion, says Brean Capital
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July 18, 2014
07:22 EDTTTWO, ATVI, EATotal June video game sales up 24%, spending on games down 3%, VentureBeat says
Sales of physical video game products, including consoles, games and accessories, rose 24% from the same month of last year to $736.4M in the U.S. in June, reported VentureBeat, citing NPD Group data. Spending on games slid 3% year-over-year to $286.8M, the report noted, with NPD stating that sales of launch titles this June "did not compare favorably" to those launched in 2013. The report also noted that PS4 again outsold Xbox One in the month. Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Take-Two (TTWO), Sony (SNE) and Microsoft (MSFT). Reference Link
06:38 EDTEA, ATVI, TTWOJune NPD video game software sales fell 3%, says Piper Jaffray
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06:06 EDTATVIXbox Live, PlayStation Network users report connectivity issues, Re/code says
Xbox Live (MSFT) and PlayStation Network (SNE) users yesterday reported problems with connecting to their online services, Re/code reports. The connectivity issues could be connected to the start of a beta period for the upcoming Bungie-Activision (ATVI) game Destiny, the publication says. Reference Link
July 16, 2014
11:47 EDTATVIVivendi almost fired Activision CEO over buyout, Bloomberg says
Activision Blizzard (ATVI) CEO Robert Kotick was nearly fired after he demanded that he head a group helping to buy out most of Vivendi's (VIVHY) share in the video-game firm he led, according Bloomberg citing court filings. Reference Link
09:03 EDTEAElectronic Arts price target raised to $44 from $37 at Sterne Agee
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08:49 EDTTTWOTake-Two price target raised to $27 from $24 at MKM Partners
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July 15, 2014
06:06 EDTEAElectronic Arts names Ken Moss as Chief Technology Officer
Electronic Arts (EA) announced on its website that it has named Ken Moss as its Chief Technology Officer. As CTO, Ken will lead the organization, strategy and vision for EA’s Digital Platform and Information Technology divisions. Moss comes to EA most recently from eBay (EBAY), where he led the Marketplace Technology, Science and Data global organization. He is a 20-year veteran of Microsoft (MSFT), where he founded and led the engineering and product teams on Search -- which later became Bing -- and played an important role in Microsoft’s transition to large-scale services. Reference Link

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