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Stock Market & Financial Investment News

News Breaks
February 4, 2014
11:38 EDTATVI, EA, GME, TTWOTake-Two retreats as analysts remain pessimistic following results
Shares of video game maker Take-Two Interactive (TTWO) are falling despite the fact the company reported stronger than expected results last night. Following the company's report, at least two Wall Street research firms lowered their ratings on its stock, while a number of others were similarly cautious. WHAT'S NEW: Take-Two's third quarter profit and revenue both came in above analysts' consensus estimates, although its fourth quarter profit and revenue guidance was below the consensus outlook. The video game maker, however, raised its full year earnings per share outlook to $4.15-$4.25 from $3.50-$3.75, due to its stronger than expected third quarter results and the effects of its share repurchases in November 2013. Analysts' consensus outlook for the company's full-year EPS was $3.80. ANALYST REACTION: A number of analysts released cautious notes about Take-Two following the company's results. In a note to investors earlier today, Pacific Crest analyst Evan Wilson said he continued to recommend selling the stock. The video game maker probably does not have a major game under development that it plans to release in fiscal 2015, Wilson believes. As a result, he does not expect the company's profitability and cash to hit records levels "for some time." While the company reported strong results due to better than expected sales of its "Grand Theft Auto" game, its net cash balance was much lower than expected, the analyst stated. Consequently, the stock isn't cheap, wrote Wilson. Meanwhile, Brean Capital analyst Todd Mitchell suggested that the company has not indicated how it plans to increase the digital revenue generated by its GTA Online game and has not disclosed its vision for games that will run on the newest video game consoles. Consequently, the company has not assured investors that its cash flow is stable and the stock isn't likely to rise further, the analyst contended. He kept a Hold rating on the shares. Additionally, Wedbush downgraded Take-Two to Neutral from Outperform due to lack of visibility and said investors should be cautious about the company's product pipeline, while Benchmark Co. lowered its rating on the stock to Hold from Buy. OTHERS TO WATCH: Other publicly traded video game makers include Activision Blizzard (ATVI) and Electronic Arts (EA). GameStop (GME) is a retailer of games produced by Take-Two and the others. PRICE ACTION: In late morning trading, Take-Two tumbled $1.80, or 9.5%, to $17.10.
News For TTWO;EA;ATVI;GME From The Last 14 Days
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June 25, 2015
16:53 EDTTTWOTake-Two initiated with a Buy at Mizuho
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16:50 EDTEAElectronic Arts initiated with a Buy at Mizuho
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16:48 EDTATVIActivision Blizzard initiated with a Buy at Mizuho
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June 24, 2015
19:53 EDTEAComcast to offer EA games over cable box, DSLReports says
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15:53 EDTGMESunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTGMEAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
10:36 EDTEA, GME, TTWO, ATVIElectronic Arts advances after analysts positive on E3 showing
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10:00 EDTTTWO, EAOn The Fly: Analyst Upgrade Summary
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07:13 EDTATVIActivision Blizzard well positioned for upside, says Brean Capital
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07:10 EDTTTWO, EATake-Two upgraded to Buy with $35 target at Jefferies
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07:09 EDTEAElectronic Arts price target raised to $75 from $66 at Brean Capital
Brean Capital raised its price target on Electronic Arts to $75 from $66 as they believe management's guidance may prove to be conservative. The firm also sees the company leading its peers on digital monetization on consoles and the cross-over into mobile. Brean Capital reiterated its Buy rating on Electronic Arts shares.
07:05 EDTEAElectronic Arts upgraded to Buy with $80 target at Jefferies
Jefferies upgraded Electronic Arts to Buy from Hold and raised its price target for the stock to $80. The firm views EA as well positioned amid faster than expected console sales and thinks the company's game pipeline is the best its ever been.
06:44 EDTTTWOTake-Two upgraded to Buy from Hold at Jefferies
Price target $35.
06:44 EDTEAElectronic Arts upgraded to Buy from Hold at Jefferies
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June 23, 2015
17:20 EDTGMEGameStop backs FY15 EPS view $3.63-$3.83, consensus $3.87
Backs FY15 revenue growth view on negative 1% to 4%. Full year comparable store sales are still expected to range from +1.0% to +6.0%.
17:16 EDTGMEGameStop backs Q2 EPS view 21c-25c, consensus 24c
Backs Q2 revenue growth view of negative 3% to flat; Backs Q2 SSS view of range from flat to +3.0%. Guidance from company slides presentation.
07:27 EDTEAJefferies to hold a conference
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June 19, 2015
07:51 EDTGMEGameStop CFO says 'blown away' by Microsoft virtual reality demonstration
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June 17, 2015
09:46 EDTTTWO, EA, ATVIJefferies to hold company meetings at E3 Expo
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07:19 EDTTTWO, EA, ATVIPiper Jaffray to hold company meetings
Piper Meetings @ E3 Conference will be held in Los Angeles on June 17.
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