Today’s Research Reports on Stocks to Watch: GameStop and Twitter
NEW YORK, NY / ACCESSWIRE / January 15, 2018 / GameStop shares were shredding on Friday as a result of the company reporting that it expects to see impairment charges of $350 to $400 million as a result of more people holding on to their cell phones longer and not upgrading. Shares of Twitter saw a day of green with a little over 4% in gains. It was announced last week that the company's CEO Jack Dorsey is leaving Walt Disney's board.
RDI Initiates Coverage on:
GameStop Corp.
http://www.rdinvesting.com/report/?ticker=GME
Twitter, Inc.
http://www.rdinvesting.com/report/?ticker=TWTR
GameStop Corp. shares collapsed on Friday, closing the day down 11.02%. Trading volume for the video game retailer was roughly four times higher than usual after the company reported mixed holiday season results. GameStop reported for the nine-week period ended December 30th that sales had climbed to $2.77 billion. This was a growth of 10.6% YOY. Total comparable-store sales increased 11.8%. GameStop also reported that it saw a 38.3% increase in hardware sale. The company is expecting $3.10 to $3.40 for its adjusted earnings per share for the full year. Analysts are waiting for the company to deliver adjusted EPS of $3.31 per share. CEO Dan DeMatteo remarked, "Our results demonstrate our customers' enthusiastic response to new products and our ability to execute on strategically targeted promotions." The company will be releasing its full year results for 2017 in late March. So what sent shares tumbling? GameStop also announced that it expects impairment charges of between $350 million to $400 million.
Access RDI's GameStop Corp. Research Report at:
http://www.rdinvesting.com/report/?ticker=GME
Twitter, Inc. shares closed up 4.35% on about 37 million shares traded on Friday. Though there was no particularly significant news from the company, shares may have headed higher after both rivals Snap and Facebook saw their shares plummet. It was announced however that Twitter's CEO Jack Dorsey would be leaving the board of Walt Disney according to a regulatory filing. A Disney spokesperson wrote in an e-mail to Fortune, "Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to board matters." Dorsey's departure will take effect in March at the time of Disney's annual meeting. Twitter had a strong year last year with the stock gaining 47% according to data from S&P Global Market Intelligence. The company has signed deals with both the NFL and the MLB as well as other sports leagues to livestream certain games.
Access RDI's Twitter, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=TWTR
Our Actionable Research on GameStop Corp. (NYSE: GME) and Twitter, Inc. (NYSE: TWTR) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
