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Take Two (TTWO) Delays Redemption 2 Release, Stock Tanks
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Shares of video game publisher, Take Two Interactive (TTWO - Free Report) dropped over 10% in after-market trading, following the company's announcement that the release of its much anticipated Red Dead Redemption 2 will be delayed from fall of 2017 to spring of 2018.
The delay has sent investors into a tizzy as Read Dead Redemption 2 was expected to emerge as one of the company’s biggest revenue-generating games of the year. Per a MarketWatch report, an MKM Partners analyst, in his earnings preview report for Take Two, has observed that “Red Dead Redemption 2, along with its online companion game, should be the largest driver for the year with an estimated 15 million units shipped and net recurrent digital revenue of $50 million.
The company stated “We are very sorry for any disappointment this delay causes, but we are firm believers in delivering a game only when it is ready. We are really excited to bring you more details about the game this summer.”
Red Dead Redemption is the second title of Rockstar’s Red Dead franchise. Released in May 2010, Red Dead Redemption was a phenomenal hit, with over 15 million copies sold, reportedly. It also garnered positive reviews from critics. The game follows the story of a fugitive, John Marston, largely after 1911 and has an Old West/Wild West backdrop. It followed Rockstar’s Read Dead Revolver release in 2004. Grand Auto Theft is another super popular Rockstar title.
At present, Take Two Interactive sports a Zacks Rank #1 (Strong Buy). In the last one year, Take Two generated a return of 89.51% compared with the Zacks Toys/Games/Hobby/ Product industry’s gain of 35.35%.
In the trailing four quarters, TiVo, Ollie's Bargain and MercadoLibre delivered average positive earnings surprises of 67.56%, 16.8% and 26.74%, respectively.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Take Two (TTWO) Delays Redemption 2 Release, Stock Tanks
Shares of video game publisher, Take Two Interactive (TTWO - Free Report) dropped over 10% in after-market trading, following the company's announcement that the release of its much anticipated Red Dead Redemption 2 will be delayed from fall of 2017 to spring of 2018.
The delay has sent investors into a tizzy as Read Dead Redemption 2 was expected to emerge as one of the company’s biggest revenue-generating games of the year. Per a MarketWatch report, an MKM Partners analyst, in his earnings preview report for Take Two, has observed that “Red Dead Redemption 2, along with its online companion game, should be the largest driver for the year with an estimated 15 million units shipped and net recurrent digital revenue of $50 million.
The company stated “We are very sorry for any disappointment this delay causes, but we are firm believers in delivering a game only when it is ready. We are really excited to bring you more details about the game this summer.”
Red Dead Redemption is the second title of Rockstar’s Red Dead franchise. Released in May 2010, Red Dead Redemption was a phenomenal hit, with over 15 million copies sold, reportedly. It also garnered positive reviews from critics. The game follows the story of a fugitive, John Marston, largely after 1911 and has an Old West/Wild West backdrop. It followed Rockstar’s Read Dead Revolver release in 2004. Grand Auto Theft is another super popular Rockstar title.
Take-Two Interactive Software, Inc. Price
Take-Two Interactive Software, Inc. Price | Take-Two Interactive Software, Inc. Quote
At present, Take Two Interactive sports a Zacks Rank #1 (Strong Buy). In the last one year, Take Two generated a return of 89.51% compared with the Zacks Toys/Games/Hobby/ Product industry’s gain of 35.35%.
Other Stocks to Consider
Other stocks worth considering in the broader tech space include TiVo Corp , Ollie's Bargain Outlet Holdings (OLLI - Free Report) , and MercadoLibre (MELI - Free Report) . All sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the trailing four quarters, TiVo, Ollie's Bargain and MercadoLibre delivered average positive earnings surprises of 67.56%, 16.8% and 26.74%, respectively.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>