Hell Yaw! For my fellow sufferers in this limp d*** of a stock, this effing kicks ass. Not that the news should actually surprise anyone. (Pssst... This new forecast only assumes 105 yen to the dollar!)
Aug. 29 (Bloomberg) -- Nintendo Co., the world's biggest maker of handheld game machines, raised its full-year net income forecast by 26 percent, citing a weaker yen, and sales of its DS and Wii players.
Net income will climb to 410 billion yen ($3.7 billion) in the year ending March 31, compared with 325 billion yen forecast in April and 257.3 billion yen a year earlier, the Kyoto-based company said in a statement today.
Nintendo gained 6.9 percent to 511,000 yen as of 2:14 p.m. on the Osaka Securities Exchange, the most since Nov. 14. The benchmark Nikkei 225 Stock Average climbed 2.3 percent.
The company said it was assuming an exchange rate of 105 yen to the dollar and 160 yen to the euro for its forecasts, compared with a previous projection of 100 yen and 155 yen.