NEW YORK, NY / ACCESSWIRE / January 11, 2019 / U.S. markets finished in the green on Thursday, however gains were held back by a sharp decline in Macy’s shares that pressured retail stocks lower. The Dow Jones Industrial Average was up by 0.51 percent to close at 24,001.92, while S&P 500 gained 0.45 percent to settle at 2,596.64. Nasdaq increased 0.42 percent to close at 6,986.07.
According to TD Ameritrade’s Chief Market Strategist, JJ Kinahan, “Retailers are having a bad morning, and that’s obviously weighing on markets today.” However, the market appears to see this as a company-specific issue rather than a comment on the broader economy, and said that “the recent selloff was all about uncertainty over trade and growth.”
The Market Edge Initiates Coverage on:
Activision Blizzard, Inc.
Electronic Arts Inc.
Activision Blizzard's stock moved 1.02% higher Thursday, to close the day at $51.35. The stock recorded a trading volume of 6,412,466 shares, which was below its three months average volume of 10,903,923 shares. In the last year, Activision Blizzard's shares have traded in a range of 43.71 - 84.68. The share price has gained 17.48% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $48.04 is below its 200-day moving average of $67.12. Shares of the company are trading at a Price to Earnings ratio of 67.74. Shares of Activision Blizzard have gained roughly 7.25 percent in the past month and are up 9.72 percent year-to-date.
Access The Market Edge's Activision Blizzard, Inc. Research Report:
On Thursday, shares of Electronic Arts recorded a trading volume of 4,745,527 shares, which was below the three months average volume of 5,027,511 shares. The stock ended the day 2.36% higher at $91.01. The share price has fallen 39.83% from its 52 week high with a 52 week trading range of 73.91 - 151.26. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $82.14 is below its 200-day moving average of $110.10. Shares of the company are trading at a Price to Earnings ratio of 29.20. Shares of Electronic Arts have gained roughly 8.69 percent in the past month and are up 14.77 percent year-to-date.
Access The Market Edge's Electronic Arts Inc. Research Report:
The Market Edge
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
The Market Edge has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of MarketEdgeReport.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. MarketEdgeReport.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.marketedgereport.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
The Market Edge, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: The Market Edge