Take-Two Interactive and Activision Blizzard are Two Video Game Companies Hitting New Highs
NEW YORK, NY / ACCESSWIRE / May 24, 2017 / "Grand Theft Auto" maker Take-Two Interactive released a strong fourth quarter report that had shares rallying to a new high. Despite announcing that one of the most anticipated games ever, Red Dead Redemption 2, would be delayed for a release until spring of next year, traders were still cautiously optimistic about the company. Activision also hit a new high after BTIG's Rich Greenfield mentioned Disney should get a bigger role in the video game arena.
RDI Initiates Coverage on:
Activision Blizzard, Inc.
https://ub.rdinvesting.com/news/?ticker=ATVI
Take-Two Interactive Software, Inc.
https://ub.rdinvesting.com/news/?ticker=TTWO
Activision Blizzard, Inc. closed up 1.19% yesterday and hit a new high of $60.13 during intra-day trading. There was no significant news to explain the move, but BTIG's Rich Greenfield did release a five-point plan for Disney that included the possible acquisition of a video game company such as Activision. According to Greenfield, Disney should get a bigger role in the video-gaming market by buying Electronic Arts or Activision Blizzard as it would give Disney a way to form consumer connections and acquire usage data.
Access RDI's Activision Blizzard Research Report at:
https://ub.rdinvesting.com/news/?ticker=ATVI
Take-Two Interactive Software, Inc.'s shares closed up 5.49% yesterday on significantly higher volume than usual. The publisher distributor of video games and video game peripherals even hit a new high after releasing strong earnings. The earnings were so good that traders didn't even seem to mind that there would be a delay in Red Dead Redemption 2, which is a video game that has been highly anticipated by many. The game has been pushed out to FY19 and will be released in the spring of 2018. "...Red Dead Redemption 2 will be their first game created from the ground up for the latest generation of console hardware, and some extra time is necessary to ensure that they deliver the best experience possible," Chief Executive Strauss Zelnick remarked. For the fourth quarter ended March 31st, Take-Two reported net revenue of $571.6 million, a growth of 51.5%. Net revenue on an adjusted basis came in at $407.1 million, which was way ahead of the $355.4 million that analysts had expected. Shares of Take-Two have seen gains of more than 47% this year so far. The stock hit as high as $76.70 during intra-day trading on Tuesday.
Access RDI's Take-Two Interactive Research Report at:
https://ub.rdinvesting.com/news/?ticker=TTWO
Our Actionable Research on Activision Blizzard, Inc. (NASDAQ: ATVI) and Take-Two Interactive Software, Inc. (NASDAQ: TTWO) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
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.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
