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Take-Two Interactive Software, Inc. stock price
Take-Two Interactive Software, Inc. latest news:
Take-Two stock falls after revenue miss
Take-Two Interactive Software Inc. shares edged down in the extended session Wednesday after the company beat earnings expectations but missed on revenue. Take-Two shares dropped nearly 5% after hours. The company reported fiscal third-quarter net income of $25.1 million, or 21 cents a share, compared with losses of $29.8 million, or losses of 33 cents a share, in the year-ago period. Revenue rose to $480 million from $476 million in the year-ago period. Analysts surveyed by FactSet had estimated losses of 10 cents a share on revenue of $493 million. For the fiscal fourth quarter, analysts model earnings of 58 cents a share on revenue of $533 million. The company issued fourth-quarter guidance of earnings of 73 cents to 83 cents a share on sales of $460 million to $510 million. Take-Two stock has gained 119% in the past year, with the S&P 500 index rising 18%.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.
Take-Two stock drops following announcement of second Red Dead Redemption 2 delay
Shares of Take-Two Interactive Software Inc. are down 2.9% in Thursday trading after the company said that it has delayed the release of of its Red Dead Redemption 2 title until October. The game has already been delayed once before, as it was originally slated to launch last October before the company pushed that back as well. "Getting the long tail of the game correct is more important than recognizing the units two quarters earlier," wrote KeyBanc Capital Markets analyst Evan Wingren, who rates the stock at overweight with a $144 target. "We'd take advantage of the weakness on that belief." The game will now be released in the same quarter as a new Call of Duty from Activision Blizzard Inc. and a new Battlefield from Electronic Arts Inc. , he added. Wingren had predicted, before the delay announcement, that Take-Two would sell 20 million units in the year following its launch. Red Dead Redemption 2 has been considered a key catalyst for shares of Take-Two, which also publishes the Grand Theft Auto Franchise. Take-Two's stock is up 127% over the past 12 months, while the S&P 500 Index is up 24%.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.
Video game publishers have 'significant upside' as industry trends continue to shift
Analysts at BTIG on Wednesday initiated coverage on video game publishers Take-Two Interactive Software Inc. and Activision Blizzard Inc. with buy ratings, and on Electronic Arts Inc. with a neutral rating. The BTIG analysts, led by Brandon Ross, wrote in a note to investors that they believe there is still significant upside for video game publishers, even with the multi-year run stocks have enjoyed as profits have climbed higher and multiples have expanded. "Activision, Take-Two and EA have all seen significant gains over the past four years. As we began to research the space, our knee-jerk reaction was 'we missed it' and we wished we had covered these names earlier," Ross wrote. "The transformation of games from standalone packaged media to connected entertainment services is not a finite tailwind for publishers. As players engage with games, publishers are better able to monetize and continuously create richer and more valuable experiences for consumers, leading to further engagement and profits." The reason for EA's neutral rating is analysts have concerns about the company's ability to execute on the industry trends. Shares of Take-Two have gained close to 132% in the trailing 12-month period, while shares of Activision have gained 78% and EA shares have gained 39%. By comparison, the S&P 500 index is up 20% and the Dow Jones Industrial Average is up 25%.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.
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