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Electronic Arts Inc. latest news:
Activision Blizzard stock rises after Goldman Sachs upgrades to buy
Activision Blizzard Inc. shares gained 2.2% in premarket trading Tuesday after analysts at Goldman Sachs upgraded the stock to buy from neutral and raised their price target to $73. The firm raised its 2019 and 2020 earnings estimates for the videogame publisher based on optimism for "non-recurring titles," including Overwatch 2, Diablo, and a mobile game from the Blizzard division. Overwatch, launched in 2016, was a big success for Activision Blizzard, and while the company hasn't confirmed a new installment, the team at Goldman Sachs thinks that one will come out in 2020. The analysts, led by Christopher Merwin, are also upbeat about the company's potential to capitalize on the mobile-gaming market in China. Merwin estimates that mobile will account for 31% of Activision's revenue in 2017, more than for its peers. He projects that the company will generate 68% of its revenue from in-game spending by 2019, including from mobile, console, and PC titles. Goldman Sachs also downgraded shares of publisher Ubisoft Entertainment to neutral and removed buy-rated Electronic Arts Inc. from its "conviction list." Activision shares have gained 75% so far in 2017, compared with an 87% rise for Ubisoft and a 37% rise for Electronic Arts. The S&P 500 is up 19% this year.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.
Activision Blizzard, Take-Two lead videogame stocks higher
Shares of videogame publishers Electronic Arts Inc. , Activision Blizzard Inc. , Take-Two Interactive Software Inc. , and Ubisoft Entertainment all gained in Friday morning trade after analysts commented on recent third-party sales data from market-research firm NPD Group. Electronic Arts's stock rose 1.3% after NPD reported weak performance for new launches "Need for Speed: Payback" and "Star Wars Battlefront II," as well as strong sales for "FIFA" and "Madden," according to BMO analyst Gerrick Johnson. Activision's "Call of Duty: WWII" outsold its predecessor by 73% in November, and its stock rose 2%. Take-Two has "the lightest holiday slate," wrote Johnson, but its "NBA 2K18" title performed well in November. Take-Two shares rose 2%. Ubisoft gained 0.6% after its "Assassins Creed" posted a strong showing, according to Piper Jaffray's Michael Olson. The S&P 500 Index is up 0.4%.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.
EA suspends in-game payments for new 'Star Wars: Battlefront II' video game
Electronic Arts Inc. late Thursday suspended micropayments on its highly anticipated new video game "Star Wars: Battlefront II," just hours before the game's Friday launch. The move was made to appease fans, who had revolted online in the days leading up to the game's release. Many voiced strong opposition to its "loot-box" system, in which players paid real money to unlock characters and in-game items, arguing that the game forced players who did not pay for upgrades to spend dozens of hours to unlock items, and potentially penalized players who did not want to spend as much. "We've heard the concerns," said Oskar Gabrielson, general manager of EA's Dice unit, in a statement Thursday. "We hear you loud and clear, so we're turning off all in-game purchases. . . . and all progression will be earned through gameplay." EA said it would make changes to improve gameplay, and in-game purchases would return at a later date. EA shares were flat after hours Thursday, after closing up slighly for the day, and are up almost 42% year to date compared to the S&P 500's 15% gain.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.
BRIEF-Electronic Arts files for potential mixed shelf, size not disclosed - SEC filing
* Electronic Arts Inc files for potential mixed shelf, size
disclosed - SEC filing
Source text: (http://bit.ly/2Axfi6L)
Further company coverage:
Electronic Arts to buy maker of 'Titanfall" videogame series
Electronic Arts Inc. announced Thursday that it will acquire Respawn Entertainment, a videogame studio known for the "Titanfall" series of games. The company said it has agreed to pay $151 million in cash for Respawn, along with $164 million in equity awards that will vest over a four-year period. There are additional incentives in the deal that could be realized through performance milestones, capped at $140 million, and the deal is expected to close around the end of the year. EA and Respawn already work closely together, with EA publishing both of the "Titanfall" titles and the two companies working on a videogame based in the "Star Wars" universe, EA said in its announcement. "We've seen firsthand the world-class caliber of Respawn as a development studio with incredible vision, deep talent and an inspiring creative mindset," EA Chief Executive Andrew Wilson said in the news release. EA shares were quiet in late trading following the announcement, but have gained 42.1% so far this year, while the S&P 500 index has increased 15.9%.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.
BRIEF-EA to acquire Respawn Entertainment
Electronic Arts Inc(EA). * EA to acquire Respawn Entertainment.
BRIEF-Electronic Arts reports qtrly loss per share of $0.07
* Qtrly loss per share $0.07; Qtrly total net revenue $959
versus $898 million
Videogame publisher EA's holiday-quarter sales forecast misses estimates
(Reuters) - Electronic Arts Inc's revenue forecast for the keenly watched holiday quarter narrowly missed estimates on Tuesday amid expectations of tough competition from other games that are likely to release around the same time.
IBM and Canadian Pacific climb while Electronic Arts drops
IBM and Canadian Pacific rise while Supervalu and Electronic Arts weaken
Electronic Arts shares tumble on Star Wars game delay
The company announced it was pushing back the release date of an as-yet unnamed title set in the Star Wars universe.
EA shuts down studio developing 'Star Wars' game
Electronic Arts Inc. is shutting down its Visceral unit that was working on an upcoming "Star Wars" video game, the company said in a blog post Tuesday. EA stock fell 1.28% to 115.98, with sudden movement at the end of the regular session. EA said in the blog that it planned to retool the game and complete it under its EA Worldwide Studios unit, with its lead developers based in Vancouver, Canada. The Visceral unit was responsible for titles such as "Battlefield Hardline" and "Dead Space." The company said in the blog post that as it shuts down Visceral it would attempt to shift as much of the personnel as possible to other projects and divisions at EA. EA stock is up 49.3% this year, with the S&P 500 index gaining 14.2%.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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