Joystiq

Nintendo: We'll 'likely' phase out some Amiibo after first run

Sinan Kubba — Tue, 09 Dec 2014 09:00:00 EST

Nintendo of America confirmed this week some Amiibo toys "likely will not return to market," following a retailer's claim that the publisher had officially discontinued the Marth, Wii Fit Trainer and Villager figures. In a statement provided to several sites including Wired, Kotaku and Destructoid, Nintendo said it'll aim to keep the "most popular" figures available, but that there's only so much shelf space to go around.

"We will aim for certain Amiibo to always be available," reads the statement. "These will be for our most popular characters like Mario and Link. Due to shelf space constraints, other figures likely will not return to the market once they have sold through their initial shipment."

Continue reading Nintendo: We'll 'likely' phase out some Amiibo after first run

Nintendo: We'll 'likely' phase out some Amiibo after first run originally appeared on Joystiq on Tue, 09 Dec 2014 09:00:00 EST. Please see our terms for use of feeds.

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Vivendi to sell $850 million in Activision Blizzard stock

S. Prell — Thu, 22 May 2014 18:00:00 EST

French multimedia company Vivendi has been steadily distancing itself from Activision Blizzard for awhile now, but a new sale brings Vivendi's stake in the House That Warcraft & Call of Duty Built down to just six percent. The $850 million deal is expected to close May 28, provided there are no holdups like last time.

Last year, Activision Blizzard bought itself back from Vivendi, making itself an independent company owned in majority by the public. That deal was not without complications though, as an Activision Blizzard shareholder attempted to sue the company, putting the sale on hold. The Delaware Supreme Court overturned the ruling which had stalled the deal, and the purchase was completed October 11, 2013.

[Image: Vivendi/Activision]

Vivendi to sell $850 million in Activision Blizzard stock originally appeared on Joystiq on Thu, 22 May 2014 18:00:00 EST. Please see our terms for use of feeds.

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Report: Yamauchi family to sell shares in Nintendo buyback

David Hinkle — Mon, 03 Feb 2014 18:15:00 EST

Nintendo will put into effect a 114.2 billion-yen ($1.1 billion) share buyback program tomorrow - the first instituted response to lackluster Wii U sales lowering the company's bottom line. Nintendo will seek to reacquire as many as 9.5 million shares (7.4 percent) of its outstanding stock at 12,025 yen ($119) each and, according to a report on Bloomberg, the Yamauchi family will be among those selling.

Hiroshi Yamauchi, who served as president and CEO from 1949 until 2002, is credited with Nintendo's transition from playing card company into video game powerhouse. Yamauchi left his near 10 percent stake in Nintendo to his four children when he passed away last September. Nintendo has not said if Yamauchi's heirs plan to sell all of their stock or just a fraction.

Whatever the intentions of this buyback initiative, it's clear that Nintendo has been thinking a lot about its future. Nintendo CEO Satoru Iwata outlined plans last week that included bringing DS games to Wii U and researching non-wearable health tech as means to turn back on the cash printer.

[Image: Nintendo]

Report: Yamauchi family to sell shares in Nintendo buyback originally appeared on Joystiq on Mon, 03 Feb 2014 18:15:00 EST. Please see our terms for use of feeds.

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Ubisoft shares drop 25 percent following delays

Earnest Cavalli — Wed, 16 Oct 2013 18:00:00 EST

Yesterday, Ubisoft announced delays for both Watch Dogs and The Crew, two games so highly anticipated that news of these delays prompted Ubisoft stock to shed more than 25 percent of its value.

As of now, Ubisoft stock is trading at $8.19 per share. That's a 26.15 percent dip from just yesterday when Ubisoft was valued as high as $11.10 per share. So far the stock has shown only minor signs of rebounding, though these have immediately been followed by further value loss.

Though the delays of Watch Dogs and The Crew are the comically gargantuan straws that shattered the camel's back, they are not the sole reason for Ubisoft's sudden financial woes. Rayman Legends and Splinter Cell: Blacklist, two games that Ubisoft expected to sell like gangbusters, failed to perform at retail.

"We have had games that were released for which we anticipate today lower sales than we anticipated when we gave our first targets," said Ubisoft CFO Alain Martinez during the firm's most recent investors' conference call. "Already released games such as, of course, Splinter Cell, Rayman, and others."

Ubisoft shares drop 25 percent following delays originally appeared on Joystiq on Wed, 16 Oct 2013 18:00:00 EST. Please see our terms for use of feeds.

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Majesco receives another Nasdaq delisting notice

Alexander Sliwinski — Fri, 08 Mar 2013 09:00:00 EST

Majesco is once again out of compliance with the Nasdaq stock exchange for having a stock price under $1 for over 30 days. The company now has 180 days (about six months) to raise its common stock to at least $1 for ten consecutive business days.

The publisher's shares took a dive in January when it announced it'd no longer provide quantitative guidance for the rest of the year. Pssst, defunct publisher THQ did the same thing.

Majesco has survived similar delisting warnings in the past. At least two that we can remember.

[Thanks, Michael]

Majesco receives another Nasdaq delisting notice originally appeared on Joystiq on Fri, 08 Mar 2013 09:00:00 EST. Please see our terms for use of feeds.

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Sony shares drop by 10 percent

Richard Mitchell — Fri, 08 Feb 2013 11:00:00 EST

In the wake of a $115 million loss in Sony's third quarter, its stock price has taken a significant hit, reports Bloomberg. Shares dropped from ¥1,530 ($16.51) to ¥1,365 ($14.78), a decrease of 10.78 percent. Bloomberg notes that this is the eighth consecutive quarter that Sony has posted a loss, and that the stock price decline is the largest the company has seen since November 2008. Investors had hoped the weak Yen would help bolster the company's earnings.

The decline in stock price follows a string of troubles for Sony. Late last year, the company saw its credit rating dropped to junk status, despite its attempts to restructure in order to stem losses. It's worth noting that, while Sony did indeed post a loss for its third quarter, the loss was significantly reduced versus the same quarter in its fiscal 2011. Nevertheless, the games division saw significantly decreased sales, and the company cited the "slow penetration" of the PlayStation Vita as a "particularly important" issue.

[JMik via Shutterstock]

Sony shares drop by 10 percent originally appeared on Joystiq on Fri, 08 Feb 2013 11:00:00 EST. Please see our terms for use of feeds.

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J.P. Morgan reduces Zynga ownership to less than one percent

Jordan Mallory — Sat, 12 Jan 2013 19:30:00 EST

Multinational banking conglom-o J.P. Morgan has reduced the amount of Zynga stock in its possession from 6.7 million shares to 2.6 million, All Things D reports. This represents a shift in its ownership of the developer/publisher from 6.7 percent to less than half of one percent, with the whole of its Zynga stock currently worth $6.73 million, based on Friday's closing value of $2.59 per share.

When J.P. Morgan actually sold 4.1 million of its shares is unclear, as the last official announcement regarding the scope of its investment in Zynga was released in January of last year. By extension, the price that J.P. Morgan received per share is also unknown.

In just the last few months, Zynga has shut down 11 games and closed studios in Japan and Boston, among other various events that haven't boded especially well for the value of its stock. J.P. Morgan's reduced ownership isn't a particularly strong vote of confidence either, though trading was up last week due to Zynga's hawkish acquisition of online gambling patents.

J.P. Morgan reduces Zynga ownership to less than one percent originally appeared on Joystiq on Sat, 12 Jan 2013 19:30:00 EST. Please see our terms for use of feeds.

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THQ stock plummets 50 percent

Alexander Sliwinski — Tue, 06 Nov 2012 11:00:00 EST

THQ's stock is (as of this writing) down 42 percent, trading at $1.74, following yesterday's dramatic second quarter earnings conference call.

The conference call, which totaled 12 minutes, concluded with CEO Brian Farrell saying that the company had been "advised not to conduct a [question and answer] session" following prepared remarks because it is currently "exploring strategic alternatives" with a company that handles private equity deals.

THQ took drastic measures a few months ago to save its stock, after shares fell below a dollar and the company was threatened with NASDAQ delisting. The solution was a 10-to-one reverse stock split, turning THQ's 70 million shares into 7 million. That action moved the decimal point on the company's $0.51/share stock into $5.16/share. THQ's market capitalization at the time stood at $35.4 million. Now, a couple months later, with today's drop it sits at $11.9 million.

THQ has been working other angles to obtain cash to continue doing business, selling off its UFC license earlier this year to Electronic Arts for an "undisclosed cash payment." Selling off more assets is still on the table, but the company doesn't plan to disclose developments or progress until the board and its advisers at Centerview Partners LLC deem it appropriate.

Update: THQ's stock closed the day at $1.50/share, down 50 percent.

THQ stock plummets 50 percent originally appeared on Joystiq on Tue, 06 Nov 2012 11:00:00 EST. Please see our terms for use of feeds.

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Zynga's business valued at 'nothing'; CityVille 2 'coming soon'

Alexander Sliwinski — Tue, 09 Oct 2012 09:00:00 EST

With the walls closing in, Zynga announced CityVille 2 is in closed beta. The company couldn't share any info but to say it "delivers a truly social and visually rich city building experience." It will launch soon. Not that investors seem to currently care.

As the LA Times notes, Zynga's combined cash, securities and real estate assets are currently worth about $2.46 a share, according to analysts. But, its stock is currently trading below that price (as of this writing: $2.43), which means the company's games business is essentially worth "nothing."

These dark tidings come as brothers Paul and David Bettner, known for Words with Friends, leave Zynga. This is on top of so many high-profile departures we'd be bombarding you every other day with a post, but let's just close this off by saying some milestone moments were the departures of chief creative officer Mike Verdu, chief operating officer John Schappert and Draw Something studio OMGPOP's Wilson Kriegel.

Forbes points out Zynga's stock is down 74 percent this year, making it one of the worst-performing stocks among U.S. companies with market caps over a billion dollars. And, to think, when Zynga went public last December everything looked like it was going to be sunshine and lollipops... oh, wait, no it didn't.

Zynga's business valued at 'nothing'; CityVille 2 'coming soon' originally appeared on Joystiq on Tue, 09 Oct 2012 09:00:00 EST. Please see our terms for use of feeds.

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Zynga passing out stock to keep employees

Alexander Sliwinski — Fri, 10 Aug 2012 10:30:00 EST

The hits keep coming for Zynga, and we aren't talking about blockbuster game launches. The latest is from a Bloomberg source, who says Zynga gave out equity grants to all full-time employees in late July to prevent an exodus, following the tides of fortune turning.

Bloomberg reports although the company routinely gives options and cash bonuses to employees, this was the first time equity awards were given to all staff.

This all went down on July 25 and company news has been nuts since, with an insider trading lawsuit, then another lawsuit from Electronic Arts, and the departure of the company's chief operating officer. Looks like Zynga's gonna need to find some more of that $3 stock to pass around like chiclets.

Zynga passing out stock to keep employees originally appeared on Joystiq on Fri, 10 Aug 2012 10:30:00 EST. Please see our terms for use of feeds.

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NASDAQ tells THQ they cool for now

Alexander Sliwinski — Tue, 24 Jul 2012 09:00:00 EST

THQ received notification from stock exchange NASDAQ that the company is back in compliance, having maintained a closing stock price of over $1 for 10 consecutive business days.

The publisher accomplished the feat through a 10-to-one reverse stock split, consolidating THQ's 70 million shares to 7 million and inflating the price by moving the decimal point one space to the right. THQ's market capitalization now stands at $35.4 million, and its stock is trading at $5.16/share this morning.

THQ has done the executive shuffle the past few months to get things back on track, adding new president Jason Rubin and announcing yesterday the addition of Relic founder Ron Moravek as "Executive Vice President, Production." THQ's next game is Darksiders 2, due on August 14.

NASDAQ tells THQ they cool for now originally appeared on Joystiq on Tue, 24 Jul 2012 09:00:00 EST. Please see our terms for use of feeds.

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Nexon pays $685 million for 14.7 percent of NCsoft

Jordan Mallory — Sun, 10 Jun 2012 22:00:00 EST

Nexon is now a minority shareholder in MMO publisher NCsoft, having purchased 3.218 million shares of the company from NCsoft chairman/cofounder Taek Jin Kim to the tune of ₩804.5 billion ($685.43 millon) - 14.7 percent of total stock. This makes Nexon the largest shareholder in NCsoft, according to VentureBeat.

~~The purchase is part of a two-year agreement between the two South Korean game companies, though the specifics of said agreement remain shrouded in mystery~~. This announcement comes somewhat cooly on the heels of reports that claimed Nexon had designs to take over EA; reports that ended up being far less interesting than originally thought.

Update: Nexon has informed us that the deal was a "one-time purchase" and that they "have not made any announcements about any future plans."

Nexon pays $685 million for 14.7 percent of NCsoft originally appeared on Joystiq on Sun, 10 Jun 2012 22:00:00 EST. Please see our terms for use of feeds.

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THQ receives stock delisting notice

Alexander Sliwinski — Tue, 31 Jan 2012 08:10:00 EST

THQ's woes continue as the troubled publisher receives a delisting warning from the Nasdaq stock exchange. The company's stock has been trading below the minimum of $1 for the past 30 days.

The publisher has 180 calendar days (until July 23, 2012) to make its stock regain compliance for 10 consecutive business days. If the company can't comply, well, let's just say these things don't end happy. There are examples of game companies coming back from the brink. Heck, Majesco has done it twice.

THQ is hurting bad, as it works through a realignment and sets off waves of layoffs to stabilize the company. The publisher is expected to explain its current financial issues during an investor call this Thursday, February 2. THQ's stock price is trading at $0.70 as of 8AM ET today.

THQ receives stock delisting notice originally appeared on Joystiq on Tue, 31 Jan 2012 08:10:00 EST. Please see our terms for use of feeds.

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Zynga's paid $300 per new user in the past nine months, says analyst

Mike Schramm — Sat, 21 Jan 2012 19:30:00 EST

Zynga has been struggling with its stock price since the IPO late last year, and Sterne Agee analyst Arvind Bhatia says there are more dark days ahead. When you compare Zynga's $120 million marketing budget to its recent rise in only 400,000 new players (about $300 a person), the numbers don't look good: "We know that, on average, these people are spending about $150 or so," says Bhatia, which suggests that Zynga is spending about $300 for every $150 in profit. "That math won't work for very long," obviously.

Zynga's spending is indicative of a few trends in social gaming. First, the company has discovered it's very hard to earn new players. Many of Zynga's games are similar, and without really experimenting, it's going to be hard to generate uniques. Second, Zynga's earnings are based on "whales": A small percentage of players who spend big. You need to find a lot of unique free-to-play players to land a few whales, and Bhatia doesn't see Zynga doing that lately.

So what's the solution? "Zynga will have to find their next FarmVille," says Bhatia. Until the company finds another phenomenally popular hit and the surge in new players that comes along with it (which is incredibly tough to do), Bhatia expects to see even more problems with Zynga and its stock.

Zynga's paid $300 per new user in the past nine months, says analyst originally appeared on Joystiq on Sat, 21 Jan 2012 19:30:00 EST. Please see our terms for use of feeds.

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Report: Rovio mulling Hong Kong IPO in 2013

Jordan Mallory — Sat, 17 Dec 2011 16:30:00 EST

Finnish ~~school for agitated ornithological research~~ mobile mogul Rovio may be looking to capitalize on its world-wide brand recognition and ridiculous, un-ending revenue stream by listing its stock on the Hong Kong Stock Exchange in 2013, assuming the world still exists in 2013, that is.

The financial liquidity inherent in Asia's increasingly prosperous business climate makes for an excellent pro-IPO opportunity, according to Finnish outlet Tekniikka & Talous. While no official announcements have been made as of yet, an IPO in Rovio's immediate future makes sense considering that the developer is currently valued between $2.6 and $9.1 billion and recently turned down $2.25 billion from Zynga.

Report: Rovio mulling Hong Kong IPO in 2013 originally appeared on Joystiq on Sat, 17 Dec 2011 16:30:00 EST. Please see our terms for use of feeds.

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LA Noire boosts Take-Two stock

David Hinkle — Wed, 18 May 2011 16:30:00 EST

Now here's a pretty open-and-shut case. What do you think could have caused Take-Two's share price to rise almost 18 percent yesterday? The company had the release of a little game called LA Noire to thank for that.

On Monday, Take-Two shares were hovering around $15 a pop, but shot up yesterday as LA Noire launched and closed at $17.10 -- the highest valuation since the proposed takeover by EA. As of the market's close today, shares were still trading in that range, hitting as high as $17.28 this afternoon.

LA Noire boosts Take-Two stock originally appeared on Joystiq on Wed, 18 May 2011 16:30:00 EST. Please see our terms for use of feeds.

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Counting Angry Birds before they hatch: dev talks US IPO, analysts need track record

Alexander Sliwinski — Tue, 22 Mar 2011 00:00:00 EST

Angry Birds developer Rovio has been on a roll: raking in millions of unit sales, breaking through to the mainstream and recently receiving another $42 million from investors. Now the company is talking about going public on the Nasdaq with an IPO in the next five years.

"At an estimated value of nearly $300 million, it would still be considered a relatively small company," EEDAR's Jesse Divnich explained when we asked about the company's chances. "Gameloft, for example has a current market cap of $344 million (the cost for someone to own every share of the company), this is compared to Activsion which has a market valuation of over $12 billion, and Google at $185 billion. In fact, most large mutual funds typically don't invest in anything with a market cap under $1 billion. If they do, they typically classify them as 'high-risk' or 'aggressive plays.'"

Wedbush Morgan's Michael Pachter had similar reservations about the company telling Joystiq, "Any company can go public, but the rule of thumb is that the company has at least $50 million of annual revenue before they try to sell stock. That revenue has to be recurring, and I think that is an obstacle for Rovio, which so far is a one-hit wonder. If they can replicate what they've done with Angry Birds, there might be some interest."

Pachter also mentioned that the administrative costs of being public is about $5 million annually, which is why small companies don't usually take the stock route.

Counting Angry Birds before they hatch: dev talks US IPO, analysts need track record originally appeared on Joystiq on Tue, 22 Mar 2011 00:00:00 EST. Please see our terms for use of feeds.

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Ubisoft stock experiences 'biggest drop' in over a decade

Andrew Yoon — Tue, 16 Nov 2010 22:25:00 EST

Yesterday's quarterly review did not win over many investors. Ubisoft's share prices fell 22 percent, which Bloomberg calls the company's biggest drop "since at least 1996." Apparently, people did not respond positively to the company losing millions of dollars. In fact, a number of analysts have downgraded the stock, such as Deutsche Bank's move from "buy" to "hold."

The tumultuous fall of Ubisoft's stock price may provide some opportunity for other investors, though. Michael Pachter offered a more favorable analysis of the company's upcoming portfolio, telling Gamasutra that "Ubisoft has the potential to deliver much higher revenue and EPS going forward as it focuses on AAA-quality franchise games with a history of success (emphasis ours)." For better and for worse, that means Ubisoft needs to focus more on games like Assassin's Creed, and less on games like Beyond Good & Evil if it plans to woo investors back.

Ubisoft stock experiences 'biggest drop' in over a decade originally appeared on Joystiq on Tue, 16 Nov 2010 22:25:00 EST. Please see our terms for use of feeds.

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Report: EA selling a 15% stake in Ubisoft

David Hinkle — Fri, 16 Jul 2010 17:00:00 EST

Filed under: Weird But True, Opinions, New In Pop Culture

EA has been sitting on a good chunk of Ubisoft stock for a few years now. It looks like the company is planning to unload some of those shares (perhaps a result of some recent losses?). Bloomberg reports that EA is preparing to offload a 15% stake in Ubisoft -- last we heard, EA was holding onto nearly 25% of voting shares in the French publisher. The company currently holds the single largest stake in Ubisoft shares, Bloomberg says.

UBS AG, a financial services firm apparently brokering the sale, is currently placing about 14 million shares at a price of 6.48 Euros per share, according to the terms laid out to Bloomberg. Ubisoft's shares fell 3.2 percent in Paris yesterday, to a price of 6.97 Euros -- as of right now, shares are currently up, at 7.09.

We've contacted EA for confirmation and will let you know what we hear back.

[Update: We've updated the post for accuracy.]

Report: EA selling a 15% stake in Ubisoft originally appeared on Joystiq on Fri, 16 Jul 2010 17:00:00 EST. Please see our terms for use of feeds.

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Carl Icahn now a 13.7% shareholder in Take-Two

Alexander Sliwinski — Mon, 22 Mar 2010 22:00:00 EST

Monday 22 March

70-something kilos. My kilo talk has gotten others thinking I'm moving the company to Canada, but I <3 my NYC.

Food consumed today:
No low-fat blueberry muffins today on the cart. I only like the tops anyway. Heard some pleb in the office talking about Blueberry Muffin Tops as a cereal. Tried some. I'm not opposed.

Afternoon. The beautiful weekend has shifted to gloomy overcast to fit my mood. New York.

Cherished Diary,

What is the iCahn up to? Carl Icahn previously put three of his specially selected associates on the Take-Two board (including iCahn-mini, Brett Icahn) after he obtained 11.3 percent in company stock. Now he's bought another 710,840 shares, which I estimate to cost about $7.1 million, giving him 13.7 percent of Take-Two stock.

The confusing part, Diary, is why? He has over 10 percent already and three iPods on the board, the incremental increase in stock isn't anything big -- it's just, weird, you know? Of course, you know! Diary, that's why I can always trust you! I just wish I knew if he was gearing up to push for a buyout or trying to show more faith in the company now that he has boys on the board. I wish I knew. I really, really wish I knew.

xoxo,
Strudel

[Via IndustryGamers]

Carl Icahn now a 13.7% shareholder in Take-Two originally appeared on Joystiq on Mon, 22 Mar 2010 22:00:00 EST. Please see our terms for use of feeds.

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Rumor: GameStop being eyed for purchase by private equity group

Ben Gilbert — Wed, 17 Mar 2010 19:30:00 EST

GameStop might be worth roughly $3.27 billion, but if reports are correct, a group of folks at a private equity firm may be considering an offer of $4.94 billion (a 33 percent raise over the current, rumor-inflated stock prices) to acquire the publicly held game retailer. The Street is reporting that the rumors of a buyout have already raised stock prices by nearly six percent to $19.86 per share since just five days ago, as of this afternoon.

And those rumors could be seen as partially substantiated by the company's lackluster performance on Wall Street as a publicly held company. Sterne, Agee & Leech analyst Arvind Bhatia told The Street, "The company generates strong free cash flow and is not getting respect as a public company." A buyout of GameStop by a private equity firm could mean moving the company's public status to private, not to mention a possible management shakeup (among other things). We asked GameStop corporate for comment and were told, "We do not comment on speculation or rumor," so for now we'll just have to wait and see what shakes out.

Rumor: GameStop being eyed for purchase by private equity group originally appeared on Joystiq on Wed, 17 Mar 2010 19:30:00 EST. Please see our terms for use of feeds.

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Tecmo Koei lowers profit forecast after Q3 losses

JC Fletcher — Wed, 03 Feb 2010 06:00:00 EST

Tecmo Koei has announced that it's lowering its annual operating profit forecast (essentially its guess for how much profit it will bring in before taxes) by a painful 95%. In addition, stock fell 9.5% to 630 yen ($7).

This comes after the announcement of disappointing third-quarter losses (PDF link) totaling 1.842 billion yen ($20.4 million), and after the announcement that two high-profile games, Quantum Theory and Trinity: Zill O'll Zero, have been delayed, thus eliminating whatever they would have contributed to the current fiscal year. Now it's all up to Dead or Alive: Paradise and the Western releases of Monster Rancher DS and Again.

Source [PDF]

Tecmo Koei lowers profit forecast after Q3 losses originally appeared on Joystiq on Wed, 03 Feb 2010 06:00:00 EST. Please see our terms for use of feeds.

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'EA is in the wrong business,' ex-exec Lasky blogs

Alexander Sliwinski — Thu, 14 Jan 2010 13:45:00 EST

Former Electronic Arts executive Mitch Lasky, who is now a member of venture firm Benchmark Capital, is not holding back his thoughts on the current financial turbulence at EA. Once EA's executive VP of mobile and online, Lasky now writes on his personal blog, "EA is in the wrong business, with the wrong cost structure and the wrong team, but somehow they seem to think that it is going to be a smooth, two-year transition from packaged goods to digital."

Strictly from a business perspective, Lasky lays out what he sees has gone wrong at EA, noting that in February of 2007 he made the argument to the former EA CEO that the company needed to cut $200 million annually by "reducing headcount and cutting back on ridiculous expenditures on risky titles" like Spore, Godfather and The Simpsons. He also advocated for "hyper-aggressive [research and development] investment and acquisitions in a transition to digital distribution and games-as-service." EA is starting to make such a transition, as seen in the publisher's strong iPhone and mobile sales, along with its dabbling in Facebook games. On the other hand, EA's MMO track record has been a legacy of failure that includes Earth & Beyond, The Sims Online and (sorry) Warhammer Online -- but perhaps Star Wars: The Old Republic will change that.

Given that EA's current value is so low (by billionaire's standards), Lasky finds it incredible that nobody has stepped in and scooped up the company for a bargain, noting that "Disney has been looking at them since I was at the house of the mouse back in the early 90's. And there are Chinese companies, like TenCent, that could easily swallow EA whole."

[Via Big Download]

'EA is in the wrong business,' ex-exec Lasky blogs originally appeared on Joystiq on Thu, 14 Jan 2010 13:45:00 EST. Please see our terms for use of feeds.

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Your pal Bobby earns $20 million in stock sale

Andrew Yoon — Fri, 13 Nov 2009 11:35:00 EST

What does an Activision Blizzard CEO do to celebrate the most successful launch in entertainment history? Sell his stock, of course. Earlier this week, CEO Bobby Kotick sold nearly two million shares, roughly 40 percent, of his investment in Activision Blizzard alongside the launch of Modern Warfare 2. GameSpot notes that the sale earned Kotick approximately $20 million, with a gain of about $10 per share sold.

While Kotick's sale couldn't have come at a better time (for someone looking to sell), his massive stock dump could be cause for concern for investors. Consider that there may be a few weaknesses in Activision's current strategy, including relying on sales of music games, a vital part of the publisher's empire, which have been slowing down. Activision's focus on iterative brands may also be vulnerable to sales slumps, as EA discovered when consumers became disinterested in worn-out franchises like Medal of Honor. Certainly, Kotick's stock sale could indicate that Activision has peaked as a publisher.

Then again, chances are, it hasn't.

Update: A reader informs us that Kotick still has many "unvested holdings," and with these stock options expiring in the spring, Kotick is forced to sell his remaining vested stock "or else he just gives up those millions for free." Essentially, this sale doesn't relate to his valuation of the company's economic position.

Your pal Bobby earns $20 million in stock sale originally appeared on Joystiq on Fri, 13 Nov 2009 11:35:00 EST. Please see our terms for use of feeds.

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THQ takeover talk causes stock bump

Alexander Sliwinski — Wed, 23 Sep 2009 11:29:00 EST

THQ's stock jumped up a solid 13 percent yesterday over whispers that the publisher is in a takeover company's line of sight. Optimism has recently surrounded the once fumbling publisher, as it pulled off a couple retail successes and has put on a good show with some surprisingly frank talk about its future.

However, as much as investors believe a buyout is in the works, Reuters spoke with an analyst who isn't so sure. MKM Partners analyst Eric Handler says rumors of a THQ buyout crop up almost every quarter. He believes THQ still has too many licensed games and is just starting to build a solid foundation of owned intellectual property.

Yeah, well ... we talked to an analyst, too. Wedbush Morgan's Michael Pachter tells us he doesn't believe a buyout is likely either. He concurs, "THQ is heavy on licensed content, and many licenses potentially terminate on change of control. I don't see their recent performance instilling a lot of confidence in their ability to manage a bigger library of content that would be presented in a media buyout." Hmmm, from where are investors getting this buyout notion then?

THQ takeover talk causes stock bump originally appeared on Joystiq on Wed, 23 Sep 2009 11:29:00 EST. Please see our terms for use of feeds.

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EA stock dropped slightly following earnings report, back up

David Hinkle — Thu, 06 Aug 2009 12:17:00 EST

EA's stock took a near seven percent dive yesterday, following the publishing giant's latest earnings report on Tuesday, GI.biz reports. As of writing this post, the stock stands at $20.55, jumping up a little over one percent since trading began today. We're no stock analysis site, but we're fairly certain that should The Sims 3 and EA Sports Active keep kicking butt at retail - and with EA's yearly fundraiser, Madden 10, on the horizon - EA stockholders will be A-OK.

EA stock dropped slightly following earnings report, back up originally appeared on Joystiq on Thu, 06 Aug 2009 12:17:00 EST. Please see our terms for use of feeds.

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Zelnick's Take-Two leadership blasted by investor blog

Alexander Sliwinski — Wed, 22 Jul 2009 18:30:00 EST

Wednesday 22 July

170-something lbs. I'm really sad, been putting on some weight and missing workouts.

Food consumed today:
Went total heifer and ate a tub of Cherry Garcia AND Vanilla Heath Bar Crunch. Too upset for anything else.

Late morning. New York: my Take-Two office. Boo! Boo, I say. Meanie McMean-Means at Market Rap, an investors blog site, said not-nice things about me. I was fine with it until the games press -- which I read every day -- started picking up on it. I totally missed my 7AM, 9:10AM and 11:27AM crunch sets because I was so depressed.

Anyway, this Perry H. Rod author guy says that I'm a liar and seems most upset about the stock drop after I brutally rebuffed EA's advances on MY company. He concludes, "If you're keeping score, in a two year period, Mr Zelnick managed to, on three occasions, make vital statements that were within a matter of weeks proven to be either fabricated or just incredibly incompetent (or worse)." Ouch, diary. This dude makes it sound like I'm as bald-faced a liar as Nintendo. It's not fair. I'll turn the company around once the economy picks up. I promise.

[Via GamePolitics]

Zelnick's Take-Two leadership blasted by investor blog originally appeared on Joystiq on Wed, 22 Jul 2009 18:30:00 EST. Please see our terms for use of feeds.

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Report: Activision execs sell off a bunch of stock

JC Fletcher — Mon, 25 May 2009 14:30:00 EST

Two Activision executives have a lot less Activision this week, according to The Business Insider. Last week, CEO Bobby Kotick unloaded 1.5 million shares of Activision stock, worth around $17 million, and co-chairman Brian Kelly sold 3.6 million shares, or $42 million worth.

According to TBI, Activision stock is up around 30% since the start of the year (strong Q1 sales and the announcement of more Guitar Hero things helped, no doubt), making it an opportune time for the executives to get money. Plus, a long weekend was coming up, and the two executives wanted to make sure they didn't have to stop at the ATM on their days off.

[Via VG247; Image source: Forbes]

Report: Activision execs sell off a bunch of stock originally appeared on Joystiq on Mon, 25 May 2009 14:30:00 EST. Please see our terms for use of feeds.

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Nintendo shares drop following Wii sales slowdown

JC Fletcher — Fri, 17 Apr 2009 15:10:00 EST

Nintendo shares on the Osaka Stock Exchange dropped 6.6% today, closing at 26,180 yen ($265) following the release of the March NPD sales data, which shows a 17% drop in Wii sales compared to March of last year. "The severe sales result in the U.S. prompted disappointment among investors," said Shigeo Kikuchi, an analyst at Takagi Securities. "Nintendo had been perceived as one of the winners."

Never mind that the Wii outsold every other console in March, with the DS in second place -- it failed to beat a past version of itself, and thus is a loser now. The major difference between March 2008 and March 2009 in the US? Last year, Super Smash Bros. Brawl launched in March.

[Via Engadget]

Nintendo shares drop following Wii sales slowdown originally appeared on Joystiq on Fri, 17 Apr 2009 15:10:00 EST. Please see our terms for use of feeds.

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Japanese analysts love Capcom stock

David Hinkle — Thu, 19 Mar 2009 21:50:00 EST

IFIS (International Financial Information Service) recently pulled data for analysts and their predictions of Capcom stock in Japan, and the vast majority of them placed favor on the house that Mega Man built. In fact, out of the 20 firms listed, not a single one had a "sell" recommendation on Capcom stock, with the lowest rating out of the bunch being simply "neutral."

What's even more interesting is the trend in analyst forecasts compared to reported figures. They've pretty much been on the money, with averages for predictions of operating income and earnings per share coming alarmingly close to actual figures. We're assuming these analysts haven't yet heard about Resident Evil 5's numbers, so expect hearts, unicorns and Capcom logos to populate every page of their diaries next week.

Japanese analysts love Capcom stock originally appeared on Joystiq on Thu, 19 Mar 2009 21:50:00 EST. Please see our terms for use of feeds.

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Analyst: Nintendo profits have peaked, stock set to decline

Griffin McElroy — Wed, 18 Mar 2009 14:25:00 EST

Though Nintendo is currently making money faster than a brothel in shore leave season, Deutsche Bank analyst Satoru Kikuchi has given the company's stock a "sell" rating, usually reserved for companies who are facing an economic decline. Kikuchi foresees a slow trailing off for Nintendo's stock value -- he predicts an 18 percent decline over the next year, and an additional 19 percent drop sometime in 2011.

The analyst referenced declining DS and Wii sales in Japan as evidence for his claims, adding that Nintendo's dependence on its few ridiculously successful titles (we assume he's talking about Wii Fit and Wii Play) will ultimately bring it down unless it introduces additional power sellers. Don't fret, Mr. Kikuchi -- we're sure Nintendo's got a Wii Fit 2 or Wii Play Again hidden somewhere up its gilded sleeves.

Analyst: Nintendo profits have peaked, stock set to decline originally appeared on Joystiq on Wed, 18 Mar 2009 14:25:00 EST. Please see our terms for use of feeds.

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Take-Two stock jumps up 10% following earnings report

David Hinkle — Fri, 13 Mar 2009 16:47:00 EST

Take-Two recently dished out deets concerning how much of the coveted moneyz the company made and how much of that was attributed to car theft. Following that, the company's stock started to get a spring in its step, rising 10% yesterday. With the company reporting a $50 million loss, seeing such a sharp climb is surprising, to say the least.

Take-Two's next game, GTA: Chinatown Wars, is due for release on March 17.

Take-Two stock jumps up 10% following earnings report originally appeared on Joystiq on Fri, 13 Mar 2009 16:47:00 EST. Please see our terms for use of feeds.

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Square Enix acquires more Eidos stock

Alexander Sliwinski — Tue, 24 Feb 2009 10:00:00 EST

Square Enix is working its way around Eidos' sphere grid of stock holders and leveling up for, what appears to be, its inevitable takeover of the British publisher. GI.biz reports that two major Eidos investors have sold 11.13 percent of the publisher's total stock to the Moogle master at 32 pence a share.

Using fancy business language, Square Enix claims it has "irrevocable undertaking" of 32 percent to vote in favor of the acquisition. That may be the "irrevocable" figure, but we learned Squenix previously had about 45 percent -- chances are, that number has gone up. It appears that Square Enix will finally get that Western developer it's been craving for a while.

Square Enix acquires more Eidos stock originally appeared on Joystiq on Tue, 24 Feb 2009 10:00:00 EST. Please see our terms for use of feeds.

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EA stock responds to bad news with 14 percent growth

Justin McElroy — Wed, 04 Feb 2009 16:48:00 EST

It seems like EA's stock price may just be a masochist. After EA unleashed the pain of an underperforming quarter, the company's stock responded today by rising as high as $17.60, a 13.5 percent increase from yesterday. Hurts so good indeed. Well, not for these guys and girls. But you get the idea.

See, we knew releasing a bunch of untested IPs would be good for EA! We just didn't know the help would be quite so ... indirect.

EA stock responds to bad news with 14 percent growth originally appeared on Joystiq on Wed, 04 Feb 2009 16:48:00 EST. Please see our terms for use of feeds.

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Nintendo and Sony stocks drop following earnings reports

David Hinkle — Fri, 30 Jan 2009 11:31:00 EST

Following Sony and Nintendo's financial reports yesterday, the two companies saw their shares on the Tokyo Stock Exchange fall today. On the Nintendo side, despite reports of massive earnings, the lowered forecast for DS and Wii sales has hurt the big N. Nintendo's stock was hit the hardest of the two, dropping 12.5 percent to ¥28,050 ($313.90).

For Sony, well, it's pretty obvious. It reported huge losses, and saw stock drop by 6.7 percent to ¥1780 ($19.90).

Nintendo and Sony stocks drop following earnings reports originally appeared on Joystiq on Fri, 30 Jan 2009 11:31:00 EST. Please see our terms for use of feeds.

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How ridiculously wealthy is Nintendo this year?

JC Fletcher — Fri, 02 Jan 2009 11:50:00 EST

Despite reporting on it back in 2007 and reading the Wikipedia entry so many times, we're still foggy on what market capitalization is -- we think it's basically how many shares of stock are in the public, multiplied by the cost of one share. We have an impressionistic idea of what it means, though: the bigger the number, the more likely the company's executives are to have Segways (for example).

So how did Nintendo fare? They finished 2008 with the fourth-highest market cap in Japan, according to the Tokyo Stock Exchange. The number, 4.7813 trillion yen ($52.7 billion), is way down from where it was in 2007, but what isn't? A halved market cap actually sounds bad, and it probably is, but they're still in the top 5 companies, and still selling tons of systems and games, so it's probably nothing to worry about. First-place Toyota dropped 54% themselves!

[Via Kotaku]

How ridiculously wealthy is Nintendo this year? originally appeared on Joystiq on Fri, 02 Jan 2009 11:50:00 EST. Please see our terms for use of feeds.

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Downgraded investment rating causes Sony stock fall

Andrew Yoon — Tue, 16 Dec 2008 11:30:00 EST

Sony stock fell 5.9 percent in Japan today as two analysts downgraded their investment rating of the company, "citing a loss of competitiveness." Credit Suisse reduced its rating of Sony from "neutral" to "underperform," believing "fundamental changes" are needed to get Sony back on track. The Credit Suisse analyst cut its share-price estimate of the company by 59 percent, to 1000 yen. He predicts Sony's net loss for this fiscal year will be 150 billion yen ($1.66 billion).

Deutsche Bank AG also cut its recommendation from "buy" to "hold," as it lowered its share-price estimate by 49 percent, blaming Sony's "high level of operating costs." It appears drastic measures, and further layoffs, will be necessary to restore investors' faith in Sony Corporation.

[Via GI.biz]

Downgraded investment rating causes Sony stock fall originally appeared on Joystiq on Tue, 16 Dec 2008 11:30:00 EST. Please see our terms for use of feeds.

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Rumor: Best Buy holding back Wiis

Chris Greenhough — Wed, 10 Dec 2008 10:55:00 EST

Still stuck for a Wii this holiday season? Worried that little Jonny and Jenny will regard you as the WORST PARENT OF ALL TIME come Xmas morning?

Then know that there is still hope. A Go Nintendo tipster claims that his local Best Buy is clinging onto its Wiis until December 14. Come Sunday, the store will allegedly offer them out to customers with games bundled on top -- including Mario Kart Wii, which you should buy anyway, because it's a riot.

Sure, it's only a rumor, but a perfectly plausible one: Best Buy did something similarly sneaky last year. If you're still in the hunt for a Wii, we'd recommend a Best Buy visit this weekend.

Rumor: Best Buy holding back Wiis originally appeared on Joystiq on Wed, 10 Dec 2008 10:55:00 EST. Please see our terms for use of feeds.

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Surprise! Walmart sold a lot of Wii consoles yesterday [update]

David Hinkle — Tue, 09 Dec 2008 16:35:00 EST

Well now, who could've expected this? Surely not us! We're not being sarcastic at all. Walmart promotes a healthy supply of Wii stock and, sure enough, the retail giant has sold a lot of consoles. Tens of thousands by Monday afternoon, in fact.

Spokesperson Ravi Jariwala said the company saw a "very strong response to the additional inventory" that Walmart sold online and that they blew through stock ranging in the "tens of thousands" by "early Monday afternoon." What's surprising, though, is that despite selling all of those consoles, they're still in stock on the retailer's site. If that sounds like something you'd be interested in, then hit up this linkage. Or, you know, just bash Walmart in the comments.

Update: Looks like the consoles are out of stock now. Bummer.

[Via Gamasutra]

Surprise! Walmart sold a lot of Wii consoles yesterday [update] originally appeared on Joystiq on Tue, 09 Dec 2008 16:35:00 EST. Please see our terms for use of feeds.

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Midway sinks further after Redstone escape

Jason Dobson — Thu, 04 Dec 2008 13:00:00 EST

Filed under: Business

How low can you go? GI.biz reports that Midway's stock has plummeted some 40% since majority shareholder Sumner Redstone cast off his stake in the company to investor Mark Thomas on Monday and ran for the hills.

Midway's stock currently trades for around 23 cents a share, an all-time low and reason why the company continues to face delisting by the New York Stock Exchange. As Midway's dance of financial limbo persists, we can't help but look on and place bets when the troubled company's back will simply give out and snap in two.

Midway sinks further after Redstone escape originally appeared on Joystiq on Thu, 04 Dec 2008 13:00:00 EST. Please see our terms for use of feeds.

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