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August 11, 2014
11:48 EDTKINGKing Digital shares weaker after Pacific Crest downgrade
Shares of interactive entertainment company King Digital (KING) are falling in late-morning trading after the company was downgraded at Pacific Crest. WHAT'S NEW: In a note to investors earlier today, Pacific Crest analysts downgraded the company to Sector Perform from Outperform, saying King Digital's "Candy Crush Soda Saga" will not drive a return to growth. The firm believes that the game's popularity may have already peaked and leveled off. WHAT'S NOTABLE: In light of their low confidence in the "Soda Saga" game and the current trends in King Digital's portfolio, Pacific Crest is lowering its 2015 estimates, although it expects near-term estimates in the third quarter to meet expectations. The firm believes that the company faces the same risks as other videogame companies and must be able to develop another hit game to sustain growth, and says growth forecasts are more difficult to achieve in the fourth quarter and beyond. PRICE ACTION: Shares of King Digital are down 58c, or 3.01%, to $18.71 in late-morning trading. Year-to-date, shares are down over 1.5%.
News For KING From The Last 14 Days
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December 19, 2014
08:14 EDTKINGKing Digital volatility at high end of historic range
King Digital January and February call option implied volatility is at 72, May is at 64; compared to its 26-week average of 57 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on January 6.

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