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Stock Market & Financial Investment News

News Breaks
March 28, 2014
10:30 EDTGME, EA, TTWO, ATVIGameStop rebounds, Sterne Agee remains upbeat on shares
Shares of video game retailer GameStop (GME) are rebounding after research firm Sterne Agee said, in a note to investors earlier today, that the company's outlook remains positive. WHAT'S NEW: After GameStop yesterday morning reported weaker than expected fourth quarter results and provided lower than expected fiscal 2014 earnings per share guidance, Sterne Agee analyst Arvind Bhatia remains upbeat on the stock. Strong sales of new video game consoles bode well for GameStop's outlook, and the company's EPS could reach $4 this year, contended Bhatia. GameStop's EPS guidance was actually in-line, after adjusting for variations in share buybacks, the analyst stated. Investor sentiment towards the retailer should improve as 2014 continues, wrote Bhatia, who kept a $52 price target and Buy rating on the shares. PRICE ACTION: In mid-morning trading, GameStop climbed 2.7% to $38.33. GameStop shares had declined a bit over 4% yesterday following its quarterly report. OTHERS TO WATCH: Publicly traded video game makers include Electronic Arts (EA), Take-Two Interactive (TTWO), and Activision Blizzard (ATVI).
News For GME;EA;TTWO;ATVI From The Last 14 Days
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July 23, 2014
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
12:42 EDTGMEGameStop teases 'big announcement' for tomorrow
On its official corporate Twitter feed, GameStop announced it has a "Big announcement coming tomorrow" along with a pixelated obscured image. Reference Link
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 EDTGME, TTWO, EA, ATVITotal 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, TTWO, ATVI, GMEJune 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 17, 2014
09:27 EDTGMEGameStop valuation compelling, says BofA/Merrill
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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
11:35 EDTGMEGameStop management to meet with BB&T
Meetings to be held in New York July 22-23 hosted by BB&T.
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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