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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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January 27, 2015
16:02 EDTEAElectronic Arts reports Q3 EPS $1.22, consensus 92c
Reports Q3 net revenue $1.43B, consensus $1.29B.
15:35 EDTEANotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Apple (AAPL), consensus $2.60; AT&T (T), consensus 55c; Amgen (AMGN), consensus $2.05; Yahoo (YHOO), consensus 29c; ACE (ACE), consensus $2.29; Stryker (SYK), consensus $1.45; Western Digital (WDC), consensus $2.10; Electronic Arts (EA), consensus 92c; Juniper (JNPR), consensus 31c; Total System Services (TSS), consensus 53c; Freescale Semiconductor (FSL), consensus 33c; Amdocs (DOX), consensus 81c; VMware (VMW), consensus $1.07; International Game Technology (IGT), consensus 25c; United States Steel (X), consensus 87c; Cytec (CYT), consensus 61c.
January 26, 2015
10:00 EDTEAOn The Fly: Analyst Downgrade Summary
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08:53 EDTTTWOTake-Two named a high conviction idea for 2015 at MKM Partners
MKM Partners named Take Two a high conviction idea for 2015. The firm is positive on Take Two's potential for FY15 EPS upside, growing cash balances, sustained long-term profitability and sizable share repurchases. The firm rates shares a Buy with a $35 price target, up from $30.
08:06 EDTEAElectronic Arts upside harder to justify, says Brean Capital
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06:58 EDTEAElectronic Arts downgraded to Buy from Strong Buy at Needham
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January 21, 2015
10:47 EDTGMEOptions with decreasing implied volatility
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January 20, 2015
10:20 EDTGMEOptions with decreasing implied volatility
Options with decreasing implied volatility: RPRX TLM BBY GME CBST NPSP
January 16, 2015
09:12 EDTATVIOn The Fly: Pre-market Movers
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08:03 EDTATVIActivision says Call of Duty: Advanced Warffare was top-selling console game
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05:45 EDTTTWO, GME, EA, ATVIDecember 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
16:17 EDTGMEGameStop names Tony Bartel COO
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10:19 EDTGMEOptions with decreasing implied volatility
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January 14, 2015
16:33 EDTGMEOn The Fly: Closing Wrap
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10:21 EDTGMEOptions with decreasing implied volatility
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10:00 EDTGMEOn The Fly: Analyst Upgrade Summary
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09:16 EDTGMEOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
07:47 EDTGMEGameStop new software sales promising, says SunTrust
After GameStop reported roughly in-line holiday SSS but said that its new software sales had risen 6%, the firm thinks the overall holiday data bodes well for the company's Q4 results. The firm keeps a Buy rating on the shares.
07:23 EDTGMEGameStop looks to be capitalizing on new products, says Oppenheimer
After GameStop reported that its total holiday SSS fell 3.1% but reiterated its previous Q4 EPS guidance, Oppenheimer says the company looks to be capitalizing on new products, while the short thesis on the stock was "somewhat" undermined by the company's report. The firm says the company is not yet out of the woods, but keeps an Outperform rating on the shares.
06:38 EDTGMEGameStop upgraded to Outperform from Underperform at Pacific Crest
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