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Stock Market & Financial Investment News

News Breaks
May 23, 2014
11:04 EDTWMT, GME, SNE, MSFTGameStop advances after profits beat expectations, outlook backed
Shares of multichannel video game retailer GameStop (GME) are rising this morning after the company reported better than expected first quarter profits and backed its fiscal 2014 guidance. WHAT'S NEW: GameStop reported Q1 earnings per share of 59c, which beat analysts' consensus estimate of 57c, and revenue of $2B, which was relatively in-line with an estimate of $2.03B. Consolidated comparable sales for the quarter increased 5.8%. For the quarter, the new hardware category grew 81.1% from the year-ago period, driven by strong worldwide consumer demand for Sony's (SNE) PlayStation 4 and Microsoft's (MSFT) Xbox One. The company said total market sales in the U.S. from launch through April of XBox One and PS4 hardware more than doubled the combined sales of Xbox 360 and PlayStation 3 hardware through their first six months of sales. Looking ahead, the company backed its fiscal year 2014 EPS view of $3.40-$3.70. The consensus forecast of analysts for FY14 EPS prior to the report was $3.68. Full year SSS are expected to be up 6%-12%. The company also forecast second quarter EPS of 12c-20c with SSS up 12%-19%. The consensus forecast for Q2 EPS prior to the report was 17c. WHAT'S NOTABLE: On its earnings conference call, GameStop CEO Paul Raines said the company is seeing "stronger" demand for the Xbox One as a result of the console's recent price drop last week, adding that the good news for the company is "we'll sell a lot more units." Also during the call, an analyst asked if GameStop's business has been impacted from Wal-Mart (WMT) recently entering the used game space. Raines said the company has not seen any impact from competitors entering the used game space and commented that "I would encourage you to go do some trades at all of our competitors, because I think all of them are in the trade business. We have a deep knowledge of how execution looks at all of those competitors and we do not have any impact from them." PRICE ACTION: GameStop is trading up $1.85, or about 5%, to $38.74 in mid-morning trading.
News For GME;MSFT;SNE;WMT From The Last 14 Days
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January 21, 2015
06:36 EDTSNESony's 'The Interview' nets $40M in online and TV sales, Re/code says
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06:35 EDTSNESony planning to reduce headcount in Japan by 1,500, Variety reports
According to media reports in Japan, Variety reports that Sony is planning to reduce its headcount in various divisions in Japan by about 1,500 by the end of FY14 through early retirement programs. The process, which began last August, involved Sony's corporate planning and finance departments, but has now been expanded to include corporate headquarters staff. Reference Link
January 20, 2015
18:38 EDTSNESony probed Indian operations for corruption, Bloomberg reports
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13:01 EDTWMTWal-Mart launches cash pickup option for tax refunds
As Americans begin to file their tax returns, Walmart (WMT) announced the launch of a first-of-its-kind service that allows consumers to “skip the check” and pick up their tax refunds in cash. Walmart Direct2Cash is available nationwide starting today and will help customers save time and money when compared to traditional tax refund options. Walmart is working with Tax Products Group, a Green Dot Company (GDOT), and Republic Bank & Trust Company, member FDIC, two providers of tax-related financial products and services, to provide Walmart Direct2Cash as an option to millions of customers. The more than 25,000 tax preparation locations using software with the Walmart Direct2Cash option may provide this service for no additional fee or charge a maximum of $7 at the time of filing. Walmart does not charge customers a fee when refunds are claimed in a store.
11:08 EDTMSFTMicrosoft acquires Equivio, terms not disclosed
Rajesh Jha, Microsoft's Corporate VP, Outlook and Office 365, announced on the company's blog that Microsoft has acquired Equivio, a provider of machine learning technologies for eDiscovery and information governance. Jha explains, "We are making this acquisition to help our customers tackle the legal and compliance challenges inherent in managing large quantities of email and documents." Reference Link
10:20 EDTGMEOptions with decreasing implied volatility
Options with decreasing implied volatility: RPRX TLM BBY GME CBST NPSP
09:44 EDTWMTSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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09:39 EDTMSFTMicrosoft Outlook in China hacked by government censorship department, CNBC says
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January 16, 2015
10:12 EDTWMTSprint unit Virgin Mobile to offer no contract data sharing plans
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09:47 EDTSNE, MSFTPolice arrest U.K. man in connection with Sony, Microsoft hack, Bloomberg says
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06:08 EDTSNESony may look to sell handset business, DigiTimes reports
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05:45 EDTGMEDecember NPD video game software sales dropped 2%, says Piper Jaffray
Piper Jaffray notes December NPD video game software sales fell 2% year-over-year, with the full quarter down 6% and 2014 down 13%. Piper attributes the declines to legacy weakness and a portion of sales shifting to full-game downloads. The firm expects software growth in 2015 and maintains Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
January 15, 2015
19:46 EDTSNE, MSFTMicrosoft's Xbox wins holiday retail fight against PS4, Re/code reports
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16:17 EDTGMEGameStop names Tony Bartel COO
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15:13 EDTMSFTQihoo 360, Microsoft announce advertising alliance in China, TechWeb says
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10:19 EDTGMEOptions with decreasing implied volatility
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09:24 EDTWMTEpiq Systems to hold a webinar
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07:52 EDTSNE'Avatar' sequel pushed back to 2017, AP says
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07:08 EDTMSFTMicrosoft Windows shipments still growing, says Bernstein
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06:27 EDTMSFTIntel to partner with more IT players for Internet of Things, DigiTimes reports
Intel (INTC) is preparing to team up with more IT firms such as AT&T (T), Verizon (VZ), Cisco (CSCO), SAP (SAP), and Microsoft (MSFT) in order to expand the Internet of Things industry in 2015, reports DigiTimes. According to sources from the upstream supply chain, Intel has been playing an active role in helping Taiwan build its smart city infrastructure and has also cooperated with Chunghwa Telecom to develop the IoT and cloud computing applications. Reference Link
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