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Gamestop Corporation latest news:
Why GameStop Is Struggling Despite Strong Holiday Sales
GameStop tanks 11% after it says people are not upgrading smartphones at phone-selling locations
GameStop stock dropped 11 percent in trading Friday after the company announced it expects impairment charges of between $350 million to $400 million.
Gamestop shares rise after earnings beat
Gamestop Inc. shares rose in the extended session Tuesday after the videogame retailer topped Wall Street estimates for the quarter. Gamestop shares rose 3.4% to $17.29 after hours. The company reported third-quarter net income of $59.4 million, or 59 cents a share, compared with $50.8 million, or 49 cents a share, in the year-ago period. Adjusted earnings were 54 cents a share. Revenue rose to $1.99 billion from $1.96 billion in the year-ago period. Analysts surveyed by FactSet had estimated 42 cents a share on revenue of $1.96 billion. For the year, Gamestop estimates earnings of $3.10 to $3.40 a share, while analysts expect earnings of $3.31 a share.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Is GameStop Back After Strong Q3?
GameStop CEO J. Paul Raines to take medical leave
GameStop Corp. said Tuesday it has named Daniel DeMatteo as interim chief executive, replacing J. Paul Raines, who is seeking medical treatment after a reoccurrence of a previously disclosed illness. Raines had a cancerous tumor removed from his brain in 2014. DeMatteo, a co-founder of the company, has previously served as CEO and in other executive roles. Shares were flat premarket, but are down 36% in 2017, while the S&P 500 has gained 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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