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Stock Market & Financial Investment News

News Breaks
January 31, 2013
10:24 EDTTTWOTake-Two puts active on delay of Grand Theft Auto V to September
Take-Two February 14 puts are active on total put volume of 6K contracts (2K calls). February put option implied volatility is at 49, March and June is at 39; compared to its 26-week average of 51 according to Track Data. Active put volume suggests traders taking positions for larger price movement after the company said Grand Theft Auto V will launch on September 17 and into the expected release of Q3 on February 5.
News For TTWO From The Last 14 Days
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August 17, 2015
10:21 EDTTTWOOptions with decreasing implied volatility
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August 14, 2015
12:29 EDTTTWOKing Digital sinks after posting weaker than expected network metrics
Shares of King Digital (KING), an interactive entertainment company for the mobile world, are sinking after the company reported weaker than expected network metrics in the second quarter. WHAT'S NEW: After the close on Thursday, King Digital reported Q2 adjusted earnings per share of 49c and revenue of $500M, ahead of analysts' consensus estimates of 43c and $490.03M, respectively. King reported Q2 total gross bookings of $529M, above the high end of its previously provided guidance range, but down 12% sequentially and 13% year over year. Excluding the impact of changes in foreign exchange rates, King said gross bookings would have decreased by approximately 11% sequentially, and by approximately 6% y/y. King noted that 81%, or $430M, of gross bookings were derived from the mobile audience. The company said "Candy Crush Saga," "Candy Crush Soda Saga" and "Farm Heroes Saga" ranked within the top 10 grossing games in App Store and Play Store in the U.S. during Q2. King said its monthly unique users fell 1% to 340M in Q2, down from 345M last year, while monthly active users were 501M vs. 485M last year; daily active users were 142M in Q2 vs. 138M last year. The company said year-over-year increases in monthly active users and daily active users were primarily due to the introduction of new games, particularly "Candy Crush Soda Saga," partially offset by decline in "Candy Crush Saga" and other more mature games. It said increases also reflect growth in activity from mobile players, partially offset by continued decrease in activity from Facebook (FB) players. WHAT'S NOTABLE: Looking ahead, King Digital said it expects gross bookings in the third quarter of $460M-$485M based on the timing of game releases and recent trends. The company sees fourth quarter bookings "fairly consistent sequentially." ANALYST REACTION: This morning, JPMorgan analyst Doug Anmuth downgraded King Digital Entertainment to Neutral from Overweight citing an elevated risk profile following the company's Q2 results. King's network metrics were weaker than expected while a key component of the company's pipeline, the upcoming mid-core game, is pushed to 2016, Anmuth said. He cut the price target for shares to $17 from $20. PRICE ACTION: In early afternoon trading, King Digital fell $1.81, or 11.84%, to $13.40 on nearly four times its average daily trading volume. Including today's pull back, the shares have lost approximately 3% over the past year. OTHERS TO WATCH: Other companies in the mobile gaming space include Glu Mobile (GLUU), Zynga (ZNGA), Shanda Games (GAME), Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two Interactive (TTWO).
10:24 EDTTTWOOptions with decreasing implied volatility
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05:51 EDTTTWOJuly NPD video game software sales flat year-over-year, says Piper Jaffray
Piper Jaffray analyst Michael Olson points out that July NPD video game software sales were flat year-over-year. Olson expects software growth as the pipeline improves later in the year and keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).

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