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Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:59 EDTATVI, GME, MSFT, SNE, NTDOY, EA, TTWOGameStop surges after Q2 EPS, revenue beat expectations
Shares of video game retailer GameStop (GME) are surging after the company reported second quarter earnings per share and revenue that surpassed analysts' consensus. WHAT'S NEW: GameStop's Q2 EPS was 22c, higher than analysts' 18c consensus. The retailer's Q2 revenue was $1.73B, which was better than analysts' consensus of $1.63B. GameStop's Q2 same-store-sales were up 21.9%. During the quarter, new hardware sales increased 124.8%, as worldwide demand for Microsoft’s (MSF) Xbox One and Sony’s (SNE) PlayStation 4 remained very high. New software sales grew 15.6% driven by the strong performance of recently released new titles, such as Ubisoft’s Watch Dogs and Nintendo’s (NTDOY) Mario Kart 8. GameStop anticipates Q3 EPS in the range of 58c-64c, which is in-line with analysts' 59c consensus. The company sees Q2 SSS to be up 1%-5%. The retailer anticipates FY14 EPS to be in the range of $3.40-$3.70, which falls in-line with analysts' consensus of $3.68 GameStop foresees FY14 SSS to be up 6%-12%. ANALYST OPINION: R.W. Baird raised its price target on GameStop to $52 from $50 after the company reported Q2 results "above expectations" which were prompted by strong demand for hardware, growing software sales, and increasing digital receipts. Baird said that advantages exist in the retailer's "technology brand" which remains on schedule for 300-400 openings for the year. Baird kept an Outperform rating on GameStop. Piper Jaffray feels that GameStop's guidance for the year could be "conservative" in the second half as SSS expectations look to be low in the midst of a quicker than anticipated uptake of next generation consoles along with strong software attach rates. Piper feels that the video game industry as a whole is still working through a console transition "air pocket," but still, noted that it foresees the optics of the video game market will get better in the second half when software sales become positive. The firm increased its price target on the stock to $53 from $52 while maintaining its Overweight rating. PRICE ACTION: In late-morning trading, GameStop climbed $2.43, or 6%, to $42.92. OTHERS TO WATCH: Publicly traded video game makers include Electronic Arts (EA), Take-Two Interactive (TTWO), and Activision Blizzard (ATVI).
News For GME;MSFT;SNE;NTDOY;EA;TTWO;ATVI From The Last 14 Days
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September 10, 2014
11:38 EDTGME, ATVIGameStop achieved high share of Destiny sales, says BofA/Merrill
Activision (ATVI) announced that it sold more than $500M of Destiny on its first day, making it the biggest new video game franchise launch in history. BofA/Merrill believes GameStop (GME) had a very high share of Destiny sales and expects further clarity in the coming months. The analyst continues to believe GameStop is leveraged to momentum in the console cycle and believes competitive threats from full game downloads id overblown. Shares of GameStop are Buy rated with a $56 price target.
10:14 EDTATVIActivision early sales of Destiny above expectations, says RW Baird
RW Baird said Activision Blizzard's initial Destiny wholesale shipments of over $500M exceeded expectations and the firm added that its checks suggest "very healthy" pre-orders to date for Call of Duty: Advanced Warfare. The firm believes there is upside potential for Activision in Q3 and Q4 and reiterate its Outperform rating on the stock.
10:01 EDTSNEViacom and Sony reach internet distribution agreement
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09:01 EDTATVIActivision says sells over $500M of Destiny worldwide as of day one
Activision Publishing, a wholly owned subsidiary of Activision Blizzard, announced that the company sold more than $500M of Destiny into retail stores and first parties worldwide as of day one, making the game the biggest new video game franchise launch in history.
08:51 EDTGMEGameStop volatility at low end of historic range
GameStop September call option implied volatility is at 31, November is at 33, January is at 36; compared to it 26-week average of 41 according to Track Data, suggesting decreasing price movement.
07:31 EDTGMEGameStop, Alliance Data announce branded private label credit card program
GameStop Corporation (GME) and Alliance Data Systems Corporation (ADS) announced the introduction of a GameStop-branded private label credit card program. Under the terms of the long-term agreement, Alliance Data’s Retail Services business, which manages more than 135 private label and co-brand credit programs, will deliver a customized loyalty-driven private label credit program designed to further enrich GameStop’s relationship with its more than 28 million members of the successful PowerUp Rewards loyalty program. The new GameStop PowerUp Rewards Credit Card will provide cardholders with convenience and benefits exclusive to account holders, including being able to make purchases with the card in-store and online, promotional financing for larger purchases, online and mobile platform card management and payment services, as well as no annual fee and exclusive offers for savings throughout the year. Upon the opening of an account, PowerUp Rewards Pro members will receive a one-time award of 15,000 bonus points, and PowerUp Rewards Basic members will receive a one-time award of 5,000 bonus points.
07:23 EDTMSFTMicrosoft coverage assumed with a Buy at MKM Partners
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September 9, 2014
18:38 EDTMSFTMicrosoft in serious talks to acquire Mojang AB for more than $2B, WSJ says
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07:28 EDTMSFTThe Money Event, Inc to hold a conference
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06:54 EDTMSFTChamber of Commerce says China antitrust efforts may be illegal, NY Times says
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06:37 EDTMSFTMicrosoft begins rolling out 'Delve' to Office 365 business customers
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September 8, 2014
09:40 EDTMSFTActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA YHOO BAC FB MSFT NFLX GILD MCD
07:34 EDTMSFTU.S. claims China breaks commitments amid Qualcomm, Microsoft probes, WSJ says
As Microsoft (MSFT) and Qualcomm (QCOM) are being investigated for potential monopolistic activity by Chinese regulators and lawmakers there recently alleged price manipulation by foreign automakers including Toyota (TM), Honda (HMC) and Daimler (DDAIF), the U.S. Chamber of Commerce alleged that China's use of its antimonopoly law has been subjective and its implementation skewed to favor China's local companies, reported The Wall Street Journal. Reference Link
06:37 EDTMSFTBaidu hires Microsoft's Zhang Yaqin, WSJ reports
Baidu (BIDU) has hired Zhang Yaqin, a top Microsoft (MSFT) executive in China, to become its president for new business,t he Wall Street Journal reports. Zhang was Microsoft's VP and chairman of its Asian-Pacific research and development group. Reference Link
06:21 EDTMSFTSmartwatch market to reach $10B by 2018, says Citigroup
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06:10 EDTEAPopCap Games founder John Vechey leaves company, Re/code reports
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06:08 EDTMSFTMicrosoft gives MSN.com a facelift, Re/code reports
Microsoft has given MSN.com a major facelift a year after MSN was merged with Bing Apps, Re/code reports. The updated MSN will still feature news, sports and cars, but will also include interactive content involving food and fitness. MSN is expected to be fully rolled out by the end of the month, and optimized MSN apps for iOS and Android could be released by the end of hte year. Reference Link
September 5, 2014
10:05 EDTTTWOOn The Fly: Analyst Downgrade Summary
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06:33 EDTMSFTMicrosoft, competitors aim to halt Google EU agreement, Reuters says
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06:09 EDTTTWOTake-Two downgraded to Neutral from Buy at Sterne Agee
Sterne Agee downgraded Take-Two to Neutral due to valuation.
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