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Stock Market & Financial Investment News

News Breaks
February 4, 2014
11:38 EDTEA, ATVI, 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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September 30, 2014
08:31 EDTGMEGameStop Technology Institute announce collaboration with AT&T
GameStop (GME) announced that its GameStop Technology Institute business unit is collaborating with AT&T (T) to further its focus on delivering to its brick-n-mortar retail stores technology advancements that drive positive customer experiences and accelerate the pace of change within the retail industry. As part of the relationship, GTI is working closely with AT&T to define the technical capabilities required to enable customers to interact seamlessly and responsibly through their electronic devices with digital product promotional materials (e.g., video game trailers, special discounts, etc.) located on store shelves and within identified product communication zones. To accomplish this, the company is utilizing AT&T Network Services, such as AT&T Business Fiber, so GameStop stores have reliable and scalable speeds.
September 25, 2014
17:45 EDTATVIPatent claims against Activision Blizzard use of lip synchronization dismissed
Activision Blizzard announced that the United States District Court, Central District of California has invalidated all patent claims asserted against the company by McRO, Inc. d.b.a. Planet Blue. The Court concluded that two patents for automatically animating lip synchronization and facial expressions of 3D characters were invalid, and as a result, the case against Activision Blizzard has been dismissed. The Courtís decision to invalidate the patents follows precedent set by the Supreme Courtís recent ruling in Alice Corp., confirming that abstract ideas are not patentable.
08:02 EDTGMEGameStop nearly doubles seasonal hiring efforts for 2014 holiday season
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September 24, 2014
07:30 EDTGMEB. Riley to hold a tour
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September 23, 2014
13:19 EDTATVIBlizzard cancels development of Titan, Polygon reports
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September 22, 2014
10:01 EDTATVIActivision Blizzard moves to dismiss 'frivolous' lawsuit by Manuel Noriega
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07:24 EDTEAElectronic Arts new business model positive, says Stifel
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September 18, 2014
11:20 EDTTTWOTake-Two says will be profitable for foreseeable future
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11:16 EDTTTWOTake-Two says best use of cash is game development projects
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07:32 EDTTTWOMKM Partners to hold a conference
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September 17, 2014
13:41 EDTATVISell-through suggests 10M unit Destiny estimate may be low, says Piper Jaffray
Piper Jaffray said Activision's Destiny sell-through of over $325M in its first five days equates to over 5M units, giving the firm confidence in its year-end estimate for 10M Destiny units sold and making that estimate seem potentially too low. Piper maintains its Overweight rating and $27 price target on Activision.
12:39 EDTATVIActivision Blizzard sell-off on Destiny data overdone, says RW Baird
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11:24 EDTATVIActivision Blizzard weakness a buying opportunity, says Pacific Crest
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11:22 EDTATVIActivision reports Destiny grosses over $325M in first five days
Activision Publishing, a wholly owned subsidiary of Activision Blizzard, announced that its Destiny franchise sold-through more than $325M worldwide in its first five days, citing Chart-Track, first parties, retail customer sell-through information and Activision Blizzard internal estimates. Destiny players logged more than 100M hours of online play by the end of the first week and participated in 137M activities, according to Bungie, the company added.

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