Tag Archives: shares

Following news that the OpCapita buyout may not be happening and reports that this week marks the company’s last stand, shares in GAME Group have crashed – and then rebounded again.

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Following the release of L.A. Noire in the United States, Rockstar Games’ parent company Take-Two Interactive has seen its shares skyrocket to a new three-year high.

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After CEO John Riccitiello’s presentation at the Goldman Sachs Technology and Internet Conference yesterday, EA’s stock rose sharply.

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Serious Sam and Cooking Mama publisher Majesco has pulled itself out of a recent fit of stock doldrums and rejoined the glowing ranks of the NASDAQ.

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Wedbush Morgan’s Michael Pachter has issued a note stipulating the company has increased it’s market valuations of Activision, THQ and Ubisoft with Acti shares rising to $16 from $13.75, THQ to $9 from $5.50 and Ubi to €21 from €16.50.

Why the price hike? “Since the end of March overall stock market valuations have increased significantly and valuations for entertainment companies have increased even further,” says the note.

“We were initially skeptical about whether the market rally was sustainable, but now feel that overall market valuations have stabilized and, as such, are raising the price targets for three of our covered entertainment software companies – Activision, THQ, and Ubisoft.”

That’s why.

Take-Two stock has fallen 10.4 percent to $8.54 following the company’s announcement that it was to offer $100 million in convertible senior notes yesterday.

All together now: “You should have sold to EA.”

More on GI.

IFIS (International Financial Information Service) has produced data on analysts and their predictions of Capcom’s share price in Japan, and the vast majority of them showed a large arrow going up.

In fact, out of the 20 firms listed, not a single one had a “sell” recommendation on Capcom stock, with the lowest rating out of the lot being “neutral.”

More on Joystiq. There’ a pretty graph there, too.

Square Enix has purchased more stock in Eidos, further extending its plans to acquire the company.

The firm bought approximately 11 percent of shares, previously owned by Insight Investment Management and Pioneer Investment Management for $0.46 each.

Square’s stake in Eidos is now over 32 percent.

Warner and Pioneer have both backed the deal.

More over at GI.biz.

The market reacted badly to THQ’s news of a near-$200 million Q3 loss yesterday, sending its shared down 18 percent to $3.40.

The stock actually hit $2.45 at one point, its lowest level since October 1997.

THQ confirmed the loss earlier this week, as well as the need to drop 600 staff in an effort to cut costs.

More here.

We can’t take much more of this. Ubisoft’s share price was down 19 percent at the start of trading this morning, following the company’s third fiscal quarter results yesterday.

Its stock price is now at €10.53 after the market’s knee-jerk reaction to Ubisoft’s adjustment of the company’s full year guidance, tweaked downward yesterday to between €1,040 million and €1060 million for full year revenues.

More over at GI.

The games industry am cry.

By Mike Bowden

GI reports that stock in Microsoft and Sony fell yesterday following both companies announcing company-wide cuts.

After announcing that it would be cutting 5000 jobs, Microsoft saw its share price drop almost 12 per cent ($2.27), down to $17.11 by the close US markets yesterday.

Sony, who cut both jobs and is undergoing internal restructuring, saw its share value drop to ¥136 ($1.54), to ¥1802 ($20.4).

It’s the end of the world as we know it.

By Mike Bowden

Midway’s stock’s dropped 40 percent since Sumner Redstone dropped his 87 percent share in the firm for a song earlier this week.

The publisher is now trading at 23 cents.

Midway was served a delisting notice from the NYSE in late November, so we really could be seeing the end here.

Watch and wince.

Capcom shares hit a five-year high in Tokyo trading yesterday, climbing 18 percent to close at 1,938 yen.

The boost came after Mitsubishi UFJ Financial Group increased its rating to “strong outperform” on the firm, guessing earnings will rise 39 per cent to 71.6 billion yen in the year ending March 31.

“The three titles to watch out for in the second half are Biohazard 5, Street Fighter IV and Bionic Commando,” said Hirotoshi Murakami, a Tokyo-based analyst at Mitsubishi UFJ.

Thanks, GI.

According to this SEC filing, EA boss John Riccitiello bought 42,500 shares in the firm yesterday, a $1 million investment.

The news comes after the publisher confirmed Q2 losses last week, with shares taking a heavy hit in the wake.

Riccitiello bought in at $24.50.

Thanks,

2 Posted in: EA, Trade
Tags: John Riccitiello, shares

Midway’s shares slumped 12% on the New York Stock Exchange yesterday, meaning the sare value hit a 52 week low of 79 cents per share, writes Edge.

Meanwhile, Forbes is reporting “that Sumner Redstone, the majority-owner of Midway Games’ parent company National Amusements, is said to be ‘wrapped up in talks with his creditors’.”

Oh dear.

More through the links.

By Mike Bowden

A positive City story in the mire, THQ’s having a good day on the NASDAQ after Piper analyst Anthony Gikas said the stock’s valuation “has become more attractive.”

The firm’s stock rose 47 cents, or 4.9 percent, to $10.08 in morning trading. THQ shares have lost 64 percent of their value so far this year.

“Although the product line is struggling, the company has an experienced management team that we believe will prevail over the longer term. As broad market conditions stabilize, we expect shares of THQ could rebound materially and in short order,” said Gikas.

More on Yahoo!.

According to this Bloomberg report, Nintendo investors clearly weren’t impressed with the firm’s DSi announcement yesterday, with the company’s shares falling 3.7 percent in the aftermath.

The stock rested at 39,500 yen on the Tokyo Stock Exchange. The stock, which more than doubled in each of the past two years, has lost 41 percent in 2008, while Sony shares dropped 51 percent.

“Nintendo’s announcement on the DS didn’t exceed investors’ expectations,” said Yoku Ihara, head of equity research at Retela Crea Securities Co.

“The stock market was so bearish that the news didn’t help the shares gain.”

More through the link.

Take-Two’s share have dropped 5.1 percent this morning, following news that EA has officially walked away from buyout negotiations with the firm.

“It boils down to price negotiations and the two companies not being able to come to terms,” said Arvind Bhatia, a Dallas- based analyst with Sterne Agee & Leach Inc. “Take-Two shares will likely trade back to the levels they were before EA’s bid.”

Short! This does now constitute advice. More on Bloomberg.

Former SCi head Jane Cavanagh has handed 1.9 million shares in the firm to her family, GI reports.

Cavanagh left the firm when things got a little “sticky” earlier this year, but apparently still retains 7.7 million shares in the company, which represents a total of 2.99 per cent voting rights, according to a financial statement.

More through the link.

According to this Telegraph report, Sony and Nintendo’s shares are up today on assurances from the Fed that the US economy is stable enough to keep interest rate rises on hold.

Sony’s shares, says the piece, are now at a five month high.

“The Fed doesn’t want to kill whatever growth they’re having,” Mushtaq Ibrahim, who manages about $1.4bn as chief investment officer at Amanah SSCM Asset Management Bhd in Kuala Lumpur, told Bloomberg. “You will probably see some upside in US growth rather than downside.”

More through the link.