For Immediate Release
Chicago, IL – November 07, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include GameStop Corp (NYSE:(GME - Free Report) –Free Report),Activision Blizzard, Inc. (NASDAQ:(ATVI - Free Report) –Free Report),Electronic Arts Inc (NASDAQ:(EA - Free Report) –Free Report),Sony Corp (NYSE:(SNE - Free Report) –Free Report) and Take-Two Interactive Software Inc. (NASDAQ:(TTWO - Free Report) – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday’s Analyst Blog:
Videogame Stock Roundup: ATVI, EA, GME
The last week was a crucial one as we had results from almost all big names in the video game industry. Plus, leading video game retailer,GameStop Corp (NYSE:(GME - Free Report) – Free Report) slashed its third quarter and full year 2016 outlook citing weak sales of new games.
Recap of the Developments
Activision Blizzard, Inc. (NASDAQ:(ATVI - Free Report) –Free Report): Yesterday, Activision posted third-quarter 2016 results wherein adjusted earnings of 46 cents beat the Zacks Consensus Estimate of 39 cents but revenues of $1.568 billion missed the consensus mark of $1.575 billion. Shares were down nearly 4% in aftermarket trading. However, on a year-over-year basis, revenues were up nearly 59% driven by the overwhelming success of Overwatch (over 20 million users since its release on May 24, 2016), World of Warcraft: Legion (sold 3.3 million copies on the first day itself), King Digital Entertainment, increasing digital revenues and continued strength in the Call of Duty title. The company also raised its guidance for the year. Currently, Activision has a Zacks Rank #1 (Strong Buy).
Electronic Arts Inc (NASDAQ:(EA - Free Report) –Free Report): EA reported better-than-expected second-quarter fiscal 2017 results. Adjusted earnings per share (including stock based but excluding deferred revenue and other onetime items adjusted for taxes) of 43 cents were way ahead of the Zacks Consensus Estimate of 29 cents. Revenues (including deferred revenues) were $1.098 billion, much ahead of $1.091 billion. It is to be noted that EA and a host of other video game companies have changed the way they report their non GAAP fiscal results to meet stricter guidelines imposed by the SEC. The company will no longer include the impact from revenue deferrals accounting treatment on certain online enabled products. EA also raised fiscal 2017 guidance given anticipation of strong demand for new Battlefield and Titanfall games and strength in mobile games. Currently, Electronic Arts has a Zacks Rank #1.
Sony Corp (NYSE:(SNE - Free Report) –Free Report): Sony posted second-quarter fiscal 2016 earnings per share of ¥3.76 (4 cents) that declined 85.6% year over year. Net sales also declined 15.1% to ¥1,411.9 billion ($14.0 billion). Six out of the nine segments including Games & Networks reported dismal numbers. Sales and operating revenues at the GN&S segment fell 11.3% year over year to ¥319.9 billion ($3,167 million) marred by forex fluctuations and price cut for PS4 hardware. Sony carries a Zacks Rank#3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here .
Take-Two Interactive Software Inc. (NASDAQ:(TTWO - Free Report) – Free Report): Take Two reported second-quarter fiscal 2017 results wherein both adjusted earnings of 35 cents per share and revenues of $420.2 million beat the respective Zacks Consensus Estimate of 14 cents and $404.7 million. Revenues grew over 21% year over year driven by key offerings like NBA 2K16, BioShock: The Collection, and XCOM 2 and continued strength in Grand Theft Auto V and Grand Theft Auto Online games .The company provided guidance for the third quarter of fiscal 2017. Take Two expects non-GAAP revenues of $475 million to $525 million. Non-GAAP earnings are expected to be in a range of 30 to 40 cents per share. Take-Two carries Zacks Rank#3.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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