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Stock Market & Financial Investment News

News Breaks
March 18, 2014
10:14 EDTWMT, GMEGameStop drops after Wal-Mart announces used game trade-in plan
Shares of video game retailer GameStop (GME) are sliding after Wal-Mart (WMT) announced that customers would be able to trade in their used video games in return for store credit. Two research firms, however, remained largely upbeat on GameStop's outlook. WHAT'S NEW: Wal-Mart earlier this morning announced that customers will be able to trade in their used video games and use the store credit received on any other products sold by the company. Wal-Mart said it would accept thousands of games under the program, which will kick off next week on March 26. The retail giant added that it would sell the used games it receives. GameStop sells both new and used video games. ANALYST REACTION: In a note to investors earlier today, Robert W. Baird analyst Colin Sebastian said he saw little or no evidence that competition in the used game business would hurt GameStop's financial results. Wal-Mart and at least five other major retailers have tried in the past to enter the used video game market, but have met with only modest success, the analyst wrote. It's difficult to launch a profitable used game business, according to the analyst, who kept a $55 price target and Outperform rating on GameStop. Meanwhile, Oppenheimer analyst Brian Nagel thinks the news will weigh on GameStop's shares in the near-term. However, over the long-term, Nagel believes that GameStop has a "significant leg up" on any new entrant into the used video game market. Nagel kept a $47 price target and Outperform rating on GameStop. PRICE ACTTION: In early morning trading, GameStop fell $1.97, or 5%, to $37.78. Wal-Mart shares were fractionally higher near $74.83.
News For GME;WMT From The Last 14 Days
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April 17, 2015
15:42 EDTWMTWal-Mart to slash layer of in-store management, Bloomberg reports
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07:15 EDTGMEMarch NPD video game software sales declined 3%, says Piper Jaffray
Piper Jaffray notes March NPD video game software sales declined 3% year-over-year, with major titles for the month including Electronic Arts' (EA) Battlefield Hardline, Bloodborne from Sony (SNE) and Take-Two's (TTWO) Grand Theft Auto V. Piper notes the monthly decline is the first in 2015, leaving the segment up 2% through the first three months combined. It keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts, GameStop (GME) and Take-Two.
April 16, 2015
07:21 EDTGMEGameStop estimates raised on stronger industry software sales at SunTrust
SunTrust says that video game software sales have finally turned positive, and the firm expects industry software sales to increase 3%-5% this year, given the momentum of the new hardware cycle and a better title lineup versus last year. SunTrust keeps a Buy rating on GameStop.
06:05 EDTWMTFormer Wal-Mart CEO Duke heads to Carlyle Group, WSJ reports
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April 14, 2015
18:32 EDTWMTCourt rules Wal-Mart can reject shareholder proposal on gun sales, WSJ says
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April 13, 2015
15:16 EDTGMEGameStop management to meet with Piper Jaffray
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April 12, 2015
15:43 EDTWMTWal-Mart's Walton family puts shares in newly formed trust, Reuters says
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April 10, 2015
18:29 EDTWMTWal-Mart says Walton family to place 6% of shares in trust, Reuters reports
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April 8, 2015
12:05 EDTWMTWal-Mart: Pay raises for over 34,000 associates in Florida effective this week
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06:19 EDTWMTWal-Mart de Mexico reports March sales up 9.4% from last year
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05:16 EDTWMTWalmart announces pay raises for over 72K associates in TX go into effect
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