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May 14, 2013
13:21 EDTCOOL, ZNGA, THQI, GME, EA, GLUU, ATVI, TTWOTake-Two rises after results beat expectations
Video game maker Take-Two (TTWO) is climbing after the company reported stronger than expected fourth quarter results and issued upbeat long-term guidance. WHAT'S NEW: Take-Two's fourth quarter earnings came in at 38c, versus analysts' consensus estimate of 23c. The company's fourth quarter revenue was also higher than expected. Take-Two's strong results were driven by "robust demand for our groundbreaking new releases, iconic catalog titles and expanding portfolio of digitally delivered offerings," said Take-Two CEO Strauss Zelnick. Zelnick added that he expected the company to become profitable in fiscal year 2015 and "for the foreseeable future." Take-Two's future games will enable it to bring its bottom line into positive territory, Zelnick explained. On a negative note, the company provided guidance for a higher than expected first quarter EPS loss, as well as lower than expected revenue. ANALYST REACTION: In a note to investors earlier today, Sterne Agee analyst Arvind Bhatia raised his price target on the stock to $21 from $17. The stock should continue to rise ahead of the company's release of the next version of its popular Grand Theft Auto game on September 17, the analyst believes. Moreover, investors' confidence should be increased by the company's long-term guidance, contended Bhatia. who kept a Buy rating on the shares. Conversely, Robert W. Baird analyst Colin Sebastian called Take-Two Interactive "an interesting idea" but warned that his outlook on the video game sector remains cautious. Sebastian kept a Neutral rating on the stock, although he did increase his price target to $17 from $13. PRICE ACTION: In mid-afternoon trading, Take-Two rose 55c, or 3.33%, to $16.95. Other video game makers also advanced, with Electronic Arts (EA) rising 2% to $22.17 and Activision Blizzard (ATVI) climbing 2.4% to $15.
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October 5, 2015
19:16 EDTGMEGameStop management to meet with SunTrust
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09:39 EDTTTWO, EA, ATVIeSports seen as next big growth opportunity in media
Competitive video game playing in organized leagues, or eSports, is on the verge of reaching mainstream adoption and moving from an engagement tool to a monetization opportunity for video game makers, according to Baird analyst Colin Sebastian, who calls the trend the "biggest media and sports growth opportunity you've never heard of." NEXT BIG THING: eSports could have 200M active and engaged participants as early as next year and can grow from about $200M this year to $1B in revenues by 2018, Sebastian tells investors this morning in a research note. Game publishers such as Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two Interactive (TTWO) are "natural beneficiaries," according to Sebastian, who believes that eSports has the potential to drive earnings growth and multiple expansion for the sector. eSports is still mainly a tool to help engage and keep core gamers, but Sebastian expects this to change quickly as game makers focus on incremental revenue opportunities and increasing average revenue per user. The analyst also sees "significant opportunities" from eSports for online streaming platforms, like Amazon's (AMZN) Twitch and Google's (GOOG) newer platform, as well as for Microsoft (MSFT), Sony (SNE) and PC and component makers. ANOTHER eSPORTS BULL: Jefferies analyst Mark Lipacis previously told investors that he believes the surging popularity of competitive video gaming on a global basis will benefit game publishers as well as hardware companies like NVIDIA (NVDA). In a note to investors last month, the analyst said that Activision Blizzard had five of the top fifteen most popular games on Twitch in July, and contended that the company looks best positioned among game makers to benefit from the eSports opportunity. On the date of his eSports note, Lipacis upgraded NVIDIA to Buy from Hold, saying secular growth in gaming will trump PC weakness. The company's Gaming Graphics Processing Unit is "under the radar" and has grown 23% annually over the past three years, noted Lipacis, who raised his price target for shares to $30 from $23. PRICE ACTION: In early trading, Activision Blizzard rose 1.4% to $31.90, Electronic Arts gained 1.04% to $67.18 and Take-Two Interactive advanced 0.85% to $29.64.
08:00 EDTATVI, TTWO, EAeSports should drive higher valuations for game makers, says Baird
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06:01 EDTEAElectronic Arts should be bought on any game launch selloff, says Piper Jaffray
Piper Jaffray analyst Michael Olson recommends buying shares of Electronic Arts on any "sell the news" around the November 17 Star Wars Battlefront launch. His analysis shows a "brief, and minor," pullback in shares of major game publishers following the launch of big titles. This selloff historically creates a buying opportunity, however, with publisher shares up an average of 40% in the 12 months following launch, Olson tells investors in a research note. He reiterates an Overweight rating on Electronic Arts with an $86 price target.
October 2, 2015
08:01 EDTCOOLMajesco names Barry Honig CEO
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08:01 EDTGLUUGlu Mobile Q3 bookings upside tempered by new games, says Canaccord
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05:23 EDTZNGAStocks with implied volatility movement; OLN ZNGA
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September 29, 2015
09:30 EDTGMEGameStop says plans to hire over 28,000 seasonal associates nationwide
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September 28, 2015
08:29 EDTATVIActivision price target raised to $35 on pipeline progress at Cowen
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