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Stock Market & Financial Investment News

News Breaks
May 14, 2013
13:21 EDTTTWO, EA, ZNGA, ATVI, GME, COOL, GLUU, THQITake-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.
News For TTWO;EA;ZNGA;ATVI;GME;COOL;GLUU;THQI From The Last 14 Days
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July 29, 2014
13:58 EDTEA, GMEGameStop turns negative after EA announces subscription game service
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13:49 EDTEAElectronic Arts announces subscription game service in partnership with Microsoft
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July 25, 2014
14:08 EDTGLUUGlu Mobile August volatility elevated into Q2 and outlook
Glu Mobile August call option implied volatility is at 90, September is at 74, January is at 63; compared to its 26-week average of 75 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 30.
July 23, 2014
15:02 EDTEAElectronic Arts downgraded to Hold from Buy at Benchmark Co.
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09:47 EDTEAElectronic Arts falls after earnings report, levels to watch
The shares are down 3.4% to $37.12 at time of writing, bouncing off the session low at $36.19 which is now support. Resistance is at $38.38. The company reported last night after the close, beating for the reported quarter. The company's view for FY15 adjusted EPS is now $1.85, below consensus of $1.89. Price targets were upped at three firms: UBS to $40, Piper Jaffray to $44, and Stifel to $46.
07:38 EDTEAElectronic Arts price target raised to $40 from $35 at UBS
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07:17 EDTEAElectronic Arts price target raised to $46 from $42 at Stifel
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05:43 EDTEAElectronic Arts price target raised to $44 from $38 at Piper Jaffray
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July 22, 2014
16:05 EDTEAElectronic Arts sees Q2 adjusted EPS 50c, consensus 51c
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16:05 EDTEAElectronic Arts sees FY15 adjusted EPS $1.85, consensus $1.89
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16:03 EDTEAElectronic Arts reports Q1 adjusted EPS 19c, consensus (4c)
Reports Q1 non-GAAP revenue $775M, consensus $713.24M. The company said, “EA delivered first quarter EPS above prior year and our guidance through a combination of revenue growth, higher gross margins and lower operating expenses. We have gotten off to a great start and are encouraged by the trends in our industry and business."
15:30 EDTEANotable companies reporting after market close
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15:14 EDTEAElectronic Arts July weekly 38.5 straddle priced for 7.2% move into Q1
12:42 EDTGMEGameStop teases 'big announcement' for tomorrow
On its official corporate Twitter feed, GameStop announced it has a "Big announcement coming tomorrow" along with a pixelated obscured image. Reference Link
11:20 EDTEAElectronic Arts July weekly volatility increases into Q1 and outlook
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July 21, 2014
13:44 EDTGLUUGlu Mobile price target raised to $10 from $6 at Cowen
Cowen increased its price target on Glu Mobile as the firm hiked its FY14 EPS estimate for the company to 26c from 3c. Most of the increase will be reflected in the company's Q3 results, Cowen stated. The firm said it was raising its estimates based on the strong performances of two of the company's new games, Kim Kardashian: Hollywood and Dino Hunter: Deadly Shores. Cowen continues to identify the stock as its top overall idea and kept an Outperform rating on the shares.
07:34 EDTEAElectronic Arts execution should lead to multiple expansion, says Brean Capital
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July 18, 2014
07:22 EDTEA, ATVI, GME, TTWOTotal June video game sales up 24%, spending on games down 3%, VentureBeat says
Sales of physical video game products, including consoles, games and accessories, rose 24% from the same month of last year to $736.4M in the U.S. in June, reported VentureBeat, citing NPD Group data. Spending on games slid 3% year-over-year to $286.8M, the report noted, with NPD stating that sales of launch titles this June "did not compare favorably" to those launched in 2013. The report also noted that PS4 again outsold Xbox One in the month. Publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME), Take-Two (TTWO), Sony (SNE) and Microsoft (MSFT). Reference Link
06:38 EDTTTWO, ATVI, GME, EAJune NPD video game software sales fell 3%, says Piper Jaffray
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06:06 EDTATVIXbox Live, PlayStation Network users report connectivity issues, Re/code says
Xbox Live (MSFT) and PlayStation Network (SNE) users yesterday reported problems with connecting to their online services, Re/code reports. The connectivity issues could be connected to the start of a beta period for the upcoming Bungie-Activision (ATVI) game Destiny, the publication says. Reference Link
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