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Given its convenience and social aspects, multiplayer online gaming could continue its fast growth and transform the gaming industry away from the console model.
Activision Blizzard, Inc.
Electronic Arts Inc.
Take-Two Interactive Software, Inc.
Caesars Entertainment Corporation
Churchill Downs Incorporated
International Game Technology PLC
Glu Mobile Inc.
Cheetah Mobile Inc.
The fiscal 2020 fourth-quarter earnings report that Take-Two Interactive (NASDAQ: TTWO) released on May 20 showed strong momentum building during the early weeks of the COVID-19 shelter-in-place period. One reason is that investors are used to them reporting lumpy results from year to year, given that they operate in a business where revenue cycles are often tied to the timing of big releases.
There has been significant divergence between individual stock prices and their expected earnings next year, presenting some buying and selling opportunities for investors
Lots of cleaning and temperature-taking will accompany Las Vegas’ attempt to open again. The bets are all over the board for the how Big Four stocks fare: Caesar’s, MGM, Wynn, and Las Vegas Sands.
Zynga (ZNGA) closed the most recent trading day at $8.97, moving -0.88% from the previous trading session.
Activision Blizzard (NASDAQ: ATVI) has been responsive to the protests occurring nationwide. Seasonal content for "Call of Duty: Modern Warfare," "Call of Duty: Warzone," and "Call of Duty: Mobile" have all been delayed, with the company stating that "now is not the time" to focus on new releases.In a move to provide more outspoken support of the "Black Lives Matter" movement, the company has replaced its loading screens in "Modern Warfare" and "Warzone" with a message of support.The black screen, titled "Black Lives Matter," reads:> "Our community is hurting. The systemic inequalities our community experiences are once again center stage. 'Call of Duty' and Infinity Ward stand for equality and inclusion. We stand against the racism and injustice our Black community endures. Until change happens and Black Lives Matter, we will never truly be the community we strive to be."In addition to joining other companies such as Sony Interactive Entertainment (NYSE: SNE) and Microsoft Corporation (NASDAQ: MSFT) in speaking out against police brutality and racism, Activision is also making internal changes in-game. The company has committed to eradicating racist user content from its games by focusing on moderation and developing new tools that will allow players to report inappropriate content.See more from Benzinga * Activision Blizzard CEO Bobby Kotick's Pay 'Problematic,' Say Activist Shareholders * Damon 'Karma' Barlow, 3-Time Champion, Retires From 'Call Of Duty'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Activision stock tries to recover amid a shift to mobile and free games. What the fundamentals and technical analysis say about buying ATVI stock now.
Zynga (ZNGA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Is (GLUU) Outperforming Other Consumer Discretionary Stocks This Year?
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
Here we present five gaming stocks poised to benefit as people spend more time at home hooked on to their mobiles, personal computers and gaming consoles amid coronavirus-led restrictions.
The Securities and Exchange Commission defines penny stocks as securities trading under $5 per share issued by companies with very small market capitalizations. Stocks in this category often attract investors looking for explosive gains in short periods of time, but they come with very high levels of risk and have low rates of success. While penny stocks might look cheap on a superficial level, the underlying companies tend to be very shaky and provide little visibility into their operations and outlooks.
(Bloomberg) -- China’s No. 2 online retailer JD.com Inc. is seeking to raise as much as HK$31.4 billion ($4.05 billion) for a second listing in Hong Kong, as the Nasdaq-listed firm seeks a foothold closer to home amid rising U.S.-China tensions.JD.com is offering 133 million new shares at as much as HK$236 each, according to terms of the deal obtained by Bloomberg News. The maximum price represents a 7.8% premium to JD.com’s Thursday closing price in New York.JD.com’s share sale is set to be the largest in Hong Kong this year, coming hot on the heels of NetEase Inc.’s $2.7 billion offering in the city.Escalating tensions between Washington and Beijing are increasing risks for Chinese companies like JD and NetEase that are seeking to broaden their investor base. There have also been fears over the impact of national security legislation set to be imposed on Hong Kong, including the resumption of protests in the city.The debuts would follow Alibaba Group Holding Ltd.’s $13 billion stock sale last year, hailed as a homecoming for Chinese companies and a win for Hong Kong stock exchange. The city lost many of the largest tech corporations to U.S. bourses because it didn’t allow dual-class share voting at the time -- a requirement that’s since been relaxed.JD.com’s Hong Kong share sale represents about 4.3% of its total shares outstanding before an over-allotment option. The company is taking orders from institutional investors from Friday and will kick off retail investor subscription on June 8, according to the terms.It aims to price the offering on June 11 and to begin trading on June 18. JD.com plans to use the proceeds for key supply chain-based technology initiatives.Bank of America Corp., UBS Group AG and CLSA Ltd. are joint sponsors of JD’s Hong Kong share sale.(Updates with more details from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Activision Blizzard's (NASDAQ: ATVI) long-term franchises have made it tops in the video game industry, eclipsing its peers Electronic Arts and Take-Two Interactive in market cap. Evolving platforms and emerging game companies abroad have spawned new competition, forcing Activision investors to assess where they think the company can go over the next five years. Former game developers from Atari founded Activision Publishing in 1979.
Hong Kong would benefit from a wave of stock market listings by Chinese companies due to a “less friendly” Washington, said the head of the city’s bourse, as a series of blockbuster share sales arrive against a backdrop of rising US-China tensions. The comments by Charles Li, the outgoing chief executive of Hong Kong Exchanges and Clearing, come as the Trump administration increases efforts to push Chinese companies out of America’s capital markets. NetEase, a Chinese internet company currently listed in New York, is set to go public in Hong Kong on June 11 in a $2.7bn secondary offering.
Despite reopening after 78 days of darkness, it could take a while before Las Vegas makes a full recovery.
A bill that could force Chinese companies to delist over US$1trn of shares from US markets has sparked chatter among Asian lenders of an unprecedented wave of event-driven financings as a potential consequence. The latest attempt by US lawmakers to restrict China's access to the world's biggest stock market comes amid rising tensions between the two superpowers, prompting companies from Alibaba Group Holding to Baidu to review their reliance on US capital. The Holding Foreign Companies Accountable Act, passed by the Senate in mid-May, would ban companies from the US stock market if they fail to disclose connections to the Chinese Communist Party or if US regulators are unable to oversee their audit process for three consecutive years – something that Chinese laws do not allow.
(Bloomberg) -- NetEase Inc. raised about HK$21 billion ($2.7 billion) in its Hong Kong stock offering, people with knowledge of the matter said, as Chinese companies grapple with rising tensions between Beijing and Washington.China’s second-largest gaming company priced 171 million new shares at HK$123 each, equivalent to a 2% discount to its Thursday closing price on Nasdaq, said the people, who asked not to be identified as the information is private. That comes after investors subscribed for many times more than the total stock offered. The company earlier set a maximum price of HK$126. The shares are expected to start trading in Hong Kong on June 11.The U.S.-listed internet giant makes its debut in Hong Kong as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s also a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub. No. 2 Chinese online retailer JD.com Inc. plans to start taking orders on Friday for its listing in the city .NetEase is a distant second to Tencent Holdings Ltd. in the world’s largest video game market. The creator of popular franchises like Fantasy Westward Journey and Onmyoji reported a 14% rise in online games revenue for the coronavirus-stricken March quarter, less than half of the pace Tencent’s gaming division managed during the same period.Much like Tencent, NetEase is looking globally for the next chapter of growth, teaming up with Japan’s Studio Ghibli and investing in Canadian game creator Behaviour Interactive. After selling its cross-border e-commerce platform Kaola to Alibaba, the 22-year-old company has shifted its focus to music streaming and online learning, despite worsening competition in these areas. NetEase company representatives didn’t immediately respond to a request for comment.China International Capital Corp., Credit Suisse Group AG and JPMorgan Chase and Co. are joint sponsors.(Updates throughout as the deal is priced. An earlier version corrected the currency denomination in first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Sims 4 Eco Lifestyle Expansion Pack Launches Today On PC, Mac, and Consoles, Letting Players Explore Living A New Green, Sustainable Lifestyle
Command & Conquer Remastered Collection Available Now On Steam and Origin
Chinese tech giants JD.com and NetEase could raise a combined US$6 billion in a pair of blockbuster secondary listings in Hong Kong as tensions continue to rise between the United States and China.NetEase, the world's second-largest mobile games publisher, priced its Hong Kong secondary listing at HK$123 (US$15.87) a share, gathering commitments worth US$2.7 billion ahead of its debut in the financial hub on June 11, people familiar with the deal said on Friday.Guangzhou-headquartered NetEase amassed enough pledges from investors to cover the offer multiple times, the people added.The price represents a tight 2 per cent discount to the last closing price of NetEase's depositary receipts of US$405 on Thursday and a 3.1 per cent discount to the one-day volume-weighted average price of US$412.67.Investors' take-up of the sale bodes well for e-commerce giant JD.com, which plans to raise up to US$4.1 billion in its own secondary listing in the city.According to a term sheet seen by the South China Morning Post, JD.com plans to sell 133 million shares at a maximum price of HK$236 a share, which would represent a 7.8 per cent premium to the closing price of its American depositary receipts on Thursday. JD.com confidentially filed an application for the listing in Hong Kong in April and followed it with a heavily redacted preliminary prospectus on Friday.NetEase and JD.com are racing to complete their secondary listings this month amid strong demand among investors for technology listings and before the US stance on Chinese companies trading on its markets hardens further.US President Donald Trump is dialling up anti-China rhetoric ahead of seeking a second term in November, pushing more Chinese technology firms to consider a secondary-listing closer to home. Hong Kong's exchange is putting on a full-court press to attract them.Last month, the US Senate passed legislation that could force Chinese and other foreign companies to delist unless they submit to audits by the Public Company Accounting Oversight Board, which examines the books of all publicly listed US companies. The China Securities Regulatory Commission is evaluating whether to allow US-listed mainland companies to face such audits.NetEase's US$2.7 billion in hand could rise to US$3 billion if an overallotment option is exercised, according to a deal terms sheet. The deal is almost entirely aimed at international investors with just 3 per cent reserved for a Hong Kong public offer.The international tranche was more than 10 times oversubscribed by a range of investors, including sovereign wealth funds, long-only funds and China-based investors. The Hong Kong public offering was 360 times oversubscribed, the people said.Investors' interest was piqued by the 32 per cent rise in NetEase's ADRs to near record highs. The creator of "Fantasy Westward Journey" has also benefited from people in quarantine around the world buying more of its games.Their offerings follow e-commerce giant and JD.com rival Alibaba Group Holding' US$12.9 billion secondary listing in the city last year. Alibaba is the parent company of the South China Morning Post.Hong Kong Exchanges and Clearing (HKEX) radically overhauled its listing rules in 2018 to allow technology firms with dual-class shares and pre-revenue biotechnology companies to list in the city.The bourse has proposed further changes to its rules to allow more use of so-called weighed- voting rights (WVR) shares as it tries to lure more US-listed mainland technology firms to come to Hong Kong, particularly as tensions have risen between the US and China.At least 38 US-listed mainland tech giants, including Tencent Music, would not currently qualify to list in Hong Kong because they have corporate shareholders with a WVR structure, which are allowed by bourse rivals in the US and Singapore.There are more than 200 Chinese firms with primary listings in the US, with an aggregate market cap of about US$1 trillion.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
Chinese online gaming firm NetEase raised at least $2.7 billion in a Hong Kong secondary offering, two sources said on Friday, amid doubts that mainland firms can list in New York as Sino-U.S. tensions deepen. NetEase's deal, the second after Alibaba in 2019, is expected to be one of several large secondary deals in Hong Kong this year. The Hong Kong price is equivalent to $396.70 for NetEase's U.S.-listed shares which is a 2% discount to the stock's last closing price of $405.01 on Thursday.