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Activision Blizzard, Inc (ATVI) Moves 10.0% Higher: Will This Strength Last?
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Activision Blizzard, Inc shares rallied 10% in the last trading session to close at $90.99. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.7% gain over the past four weeks.
The upswing in share price came as a federal judge handed Microsoft a major victory by declining to block its looming $69 billion takeover of Activision Blizzard. The U.K.'s Competition and Markets Authority, which had previously objected to the deal, stated that it was ready to consider Microsoft's proposals to resolve antitrust concerns.
Moreover, King division’s Candy Crush Saga announced a partnership with one of the most anticipated movies of the summer, Barbie, which is slated to hit cinemas on Jul 21. On Jul 13, Candy Crush Saga will launch in-game Barbie experiences that feature exclusive content accessible only to Candy Crush Saga players. The company's constant efforts the expand gaming portfolio is expected to drive user growth in the near term.
This company is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of +81.6%. Revenues are expected to be $2.45 billion, up 49.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Activision Blizzard, Inc, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ATVI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Activision Blizzard, Inc belongs to the Zacks Toys - Games - Hobbies industry. Another stock from the same industry, Electronic Arts (EA - Free Report) , closed the last trading session 5.2% higher at $137.33. Over the past month, EA has returned 3.8%.
Electronic Arts' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1. Compared to the company's year-ago EPS, this represents a change of +212.5%. Electronic Arts currently boasts a Zacks Rank of #2 (Buy).
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Activision Blizzard, Inc (ATVI) Moves 10.0% Higher: Will This Strength Last?
Activision Blizzard, Inc shares rallied 10% in the last trading session to close at $90.99. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.7% gain over the past four weeks.
The upswing in share price came as a federal judge handed Microsoft a major victory by declining to block its looming $69 billion takeover of Activision Blizzard. The U.K.'s Competition and Markets Authority, which had previously objected to the deal, stated that it was ready to consider Microsoft's proposals to resolve antitrust concerns.
Moreover, King division’s Candy Crush Saga announced a partnership with one of the most anticipated movies of the summer, Barbie, which is slated to hit cinemas on Jul 21. On Jul 13, Candy Crush Saga will launch in-game Barbie experiences that feature exclusive content accessible only to Candy Crush Saga players. The company's constant efforts the expand gaming portfolio is expected to drive user growth in the near term.
This company is expected to post quarterly earnings of $0.89 per share in its upcoming report, which represents a year-over-year change of +81.6%. Revenues are expected to be $2.45 billion, up 49.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Activision Blizzard, Inc, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ATVI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Activision Blizzard, Inc belongs to the Zacks Toys - Games - Hobbies industry. Another stock from the same industry, Electronic Arts (EA - Free Report) , closed the last trading session 5.2% higher at $137.33. Over the past month, EA has returned 3.8%.
Electronic Arts' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1. Compared to the company's year-ago EPS, this represents a change of +212.5%. Electronic Arts currently boasts a Zacks Rank of #2 (Buy).