New York -- Shares of DVR firm TiVo fell 7 percent-plus in early Wednesday trading following a quarterly loss and subscriber decline reported Tuesday afternoon.
As of 11am Et on Wednesday, the stock was down 7 percent at $9.13 after earlier going as low as $9.06.
But some analysts said there may be upside and continue to recommend investors buy the stock.
Evercore Partners analyst Alan Gould lowered his price target on TiVo from $13.50 to $13, but reiterated his "overweight" rating, which is similar to a "buy" recommendation.
He predicted an update on TiVo's Dish Network/Echostar litigation will provide a "major catalyst" within six weeks.
Weighing possible outcomes and their stock effect, he said a likely stock price after an en banc decision in the case is $13, up 33 percent from Tuesday's closing price.
Bmo Capital analyst Edward Williams also has a target price of $13 on TiVo and reiterated his "outperform" rating Wednesday morning. "Although...
As of 11am Et on Wednesday, the stock was down 7 percent at $9.13 after earlier going as low as $9.06.
But some analysts said there may be upside and continue to recommend investors buy the stock.
Evercore Partners analyst Alan Gould lowered his price target on TiVo from $13.50 to $13, but reiterated his "overweight" rating, which is similar to a "buy" recommendation.
He predicted an update on TiVo's Dish Network/Echostar litigation will provide a "major catalyst" within six weeks.
Weighing possible outcomes and their stock effect, he said a likely stock price after an en banc decision in the case is $13, up 33 percent from Tuesday's closing price.
Bmo Capital analyst Edward Williams also has a target price of $13 on TiVo and reiterated his "outperform" rating Wednesday morning. "Although...
New York - Video game giant Activision Blizzard said Thursday that Call of Duty: Black Ops has surpassed $650 million in worldwide retail sales in its first five days - setting a new industry record.
The company said the figures "shattered theatrical box office, book and video game sales records for five-day worldwide sell-through in dollars," confirming the game's status as the "largest entertainment launch in history."
The numbers also exceeded Activision's previous five-day worldwide record of $550 million set by last year's Call of Duty: Modern Warfare 2, according to internal Activision estimates.
In the first 24 hours of availability, the game had brought in $360 million in retail sales in North America and the U.K.
"Call of Duty: Black Ops is clearly off to a great start, reflecting the strength of the franchise, the underlying quality of the game and the growth of the addressable market following the significant year-over-year increase in Xbox 360 and PS3 hardware sales,...
The company said the figures "shattered theatrical box office, book and video game sales records for five-day worldwide sell-through in dollars," confirming the game's status as the "largest entertainment launch in history."
The numbers also exceeded Activision's previous five-day worldwide record of $550 million set by last year's Call of Duty: Modern Warfare 2, according to internal Activision estimates.
In the first 24 hours of availability, the game had brought in $360 million in retail sales in North America and the U.K.
"Call of Duty: Black Ops is clearly off to a great start, reflecting the strength of the franchise, the underlying quality of the game and the growth of the addressable market following the significant year-over-year increase in Xbox 360 and PS3 hardware sales,...
- 11/18/2010
- The Hollywood Reporter - Movie News
Stepping out for a paid hosting gig, Rachel Bilson was on the red carpet for the 'Take No Prisoners' Party at The Standard Hotel in Los Angeles, California on Wednesday night (June 16).
Held during the second day of the Electronic Entertainment Expo, the "Jumper" cutie was joined by her dad, Danny Bilson, as she welcomed fellow celebs including Jon Gosselin, Ali Landry and Stacy Keibler.
Drawing around 45,000 people during its three days of action, the E3 event had quite the buzz this year - as gaming companies are busily unveiling new products ahead of the holiday season.
Edward Williams, an analyst with Bmo Capital, tells of the popularity, "Between Sony's Move, Microsoft Kinect and Nintendo Co.'s 3Ds, you have three significant products launching between now and next March."...
Held during the second day of the Electronic Entertainment Expo, the "Jumper" cutie was joined by her dad, Danny Bilson, as she welcomed fellow celebs including Jon Gosselin, Ali Landry and Stacy Keibler.
Drawing around 45,000 people during its three days of action, the E3 event had quite the buzz this year - as gaming companies are busily unveiling new products ahead of the holiday season.
Edward Williams, an analyst with Bmo Capital, tells of the popularity, "Between Sony's Move, Microsoft Kinect and Nintendo Co.'s 3Ds, you have three significant products launching between now and next March."...
- 6/17/2010
- GossipCenter
Stepping out for a paid hosting gig, Rachel Bilson was on the red carpet for the 'Take No Prisoners' Party at The Standard Hotel in Los Angeles, California on Wednesday night (June 16).
Held during the second day of the Electronic Entertainment Expo, the "Jumper" cutie was joined by her dad, Danny Bilson, as she welcomed fellow celebs including Jon Gosselin, Ali Landry and Stacy Keibler.
Drawing around 45,000 people during its three days of action, the E3 event had quite the buzz this year - as gaming companies are busily unveiling new products ahead of the holiday season.
Edward Williams, an analyst with Bmo Capital, tells of the popularity, "Between Sony's Move, Microsoft Kinect and Nintendo Co.'s 3Ds, you have three significant products launching between now and next March."...
Held during the second day of the Electronic Entertainment Expo, the "Jumper" cutie was joined by her dad, Danny Bilson, as she welcomed fellow celebs including Jon Gosselin, Ali Landry and Stacy Keibler.
Drawing around 45,000 people during its three days of action, the E3 event had quite the buzz this year - as gaming companies are busily unveiling new products ahead of the holiday season.
Edward Williams, an analyst with Bmo Capital, tells of the popularity, "Between Sony's Move, Microsoft Kinect and Nintendo Co.'s 3Ds, you have three significant products launching between now and next March."...
- 6/17/2010
- GossipCenter
New York -- Going into the Thanksgiving weekend, latest economic data pointed to a deepening recessionary trend in the U.S. that is squeezing consumers' wallets, and entertainment analysts raised more concerns about further declining DVD sales momentum amid the downturn.
Consumer spending, which provides about two-thirds of U.S. economic activity, fell 1% in October, the Commerce Department reported Wednesday. It was the fourth consecutive monthly decrease and the biggest drop since the 9/11 attacks in 2001. September had recorded a decline of only 0.3%.
Adjusted for inflation, consumer spending fell 0.5%, the first fifth monthly decline in a row since the 1991 recession.
In more bearish economic news, a widely followed survey by Reuters and the University of Michigan showed consumer confidence fell to a 28-year low in November amid an increase in layoffs and still-falling house prices.
Both reports cast further clouds over the important holiday shopping season, which traditionally kicks off on Black Friday,...
Consumer spending, which provides about two-thirds of U.S. economic activity, fell 1% in October, the Commerce Department reported Wednesday. It was the fourth consecutive monthly decrease and the biggest drop since the 9/11 attacks in 2001. September had recorded a decline of only 0.3%.
Adjusted for inflation, consumer spending fell 0.5%, the first fifth monthly decline in a row since the 1991 recession.
In more bearish economic news, a widely followed survey by Reuters and the University of Michigan showed consumer confidence fell to a 28-year low in November amid an increase in layoffs and still-falling house prices.
Both reports cast further clouds over the important holiday shopping season, which traditionally kicks off on Black Friday,...
- 11/26/2008
- by By Georg Szalai
- The Hollywood Reporter - Movie News
New York -- Let the games begin.
Activision shareholders Tuesday are expected to approve a merger with Vivendi Games that will allow the deal to close within days and create a new top dog in the fast-growing video gaming world.
The terms of the deal, first unveiled in December, valued the new Activision Blizzard at $18.9 billion. Current gaming king Electronic Arts' market capitalization after Monday's market close stood at $14.1 billion, according to Yahoo Finance.
More important for Wall Street, while EA has been reporting losses, Activision Blizzard, of which Vivendi will own a slight majority, has promised to be the most profitable gaming firm and grow its bottom line at a healthy pace.
"I don't care about who is No. 1 and 2," Hudson Square Research analyst Daniel Ernst said. "Earnings growth is what counts for investors."
Activision Blizzard is positioned to ensure that as it brings together some of the hottest gaming franchises, such as Vivendi's massively multiplayer online juggernaut "World of Warcraft" and Activision's "Guitar Hero." Analysts say it also allows the respected Activision sales and marketing machine to tap into Asia, where Vivendi already has a presence, and potentially take the new partner's product, like the Bourne franchise, to new heights.
Unlike early expectations from some investors, the deal has not led to a deal wave in the industry. But analysts say the new 800-pound gorilla's reach across the world and various gaming platforms will have a major effect on the way every gaming company thinks about their business.
"What it does is create a (first) truly global gaming company with reach in the U.S., Europe and Asia," including in the fast-emerging Chinese market, said Edward Williams, an analyst with Bmo Capital Markets. "It also creates a company that drives revenue from multiple streams, including the massively (multiplayer) online game category that is seeing the biggest growth."
This will force other companies to also approach Mmo more aggressively and try to move into other emerging streams and global distribution, he said.
"I don't see a 'deal wave' coming" right now," said Michael Pachter, analyst at Wedbush Morgan Securities. But he and others also expect a focus of game companies on increased global reach and profitability amid ever-rising development costs that drag down profit margins.
Along with outright acquisitions, this could lead to partnerships or significant investments, which could increasingly bring together companies focused on different regions of the world and different gaming platforms, analysts say. Some even see an increased possibility for media companies folding their gaming business into a public game firm and taking a stake in the merged entity.
For now, though, Sterne, Agee & Leach analyst Arvind Bhatia said Activision Blizzard will have the highest margins in the industry by far. "There is potential for the combined entity to reach 30%-plus operating margins," compared with the more common operating margins in the 10%-20% range, he said.
Meanwhile, EA -- known among other things for its "Madden NFL" series -- has been trying to strike its own deal. While it wouldn't significantly build its Mmo and global reach, a takeover of Take-Two Interactive could add the hit franchise "Grand Theft Auto" to EA's arsenal.
While various analysts like shares of EA and the new Activision Blizzard for their scale and potential bottom-line improvements, Ernst is most bullish on a foreign player: Nintendo. He said the Wii console is starting to really be "a significant driver" of earnings this year, and Nintendo also should continue to benefit from a sales shift away from the Sony's PlayStation and Microsoft's Xbox.
Activision shareholders Tuesday are expected to approve a merger with Vivendi Games that will allow the deal to close within days and create a new top dog in the fast-growing video gaming world.
The terms of the deal, first unveiled in December, valued the new Activision Blizzard at $18.9 billion. Current gaming king Electronic Arts' market capitalization after Monday's market close stood at $14.1 billion, according to Yahoo Finance.
More important for Wall Street, while EA has been reporting losses, Activision Blizzard, of which Vivendi will own a slight majority, has promised to be the most profitable gaming firm and grow its bottom line at a healthy pace.
"I don't care about who is No. 1 and 2," Hudson Square Research analyst Daniel Ernst said. "Earnings growth is what counts for investors."
Activision Blizzard is positioned to ensure that as it brings together some of the hottest gaming franchises, such as Vivendi's massively multiplayer online juggernaut "World of Warcraft" and Activision's "Guitar Hero." Analysts say it also allows the respected Activision sales and marketing machine to tap into Asia, where Vivendi already has a presence, and potentially take the new partner's product, like the Bourne franchise, to new heights.
Unlike early expectations from some investors, the deal has not led to a deal wave in the industry. But analysts say the new 800-pound gorilla's reach across the world and various gaming platforms will have a major effect on the way every gaming company thinks about their business.
"What it does is create a (first) truly global gaming company with reach in the U.S., Europe and Asia," including in the fast-emerging Chinese market, said Edward Williams, an analyst with Bmo Capital Markets. "It also creates a company that drives revenue from multiple streams, including the massively (multiplayer) online game category that is seeing the biggest growth."
This will force other companies to also approach Mmo more aggressively and try to move into other emerging streams and global distribution, he said.
"I don't see a 'deal wave' coming" right now," said Michael Pachter, analyst at Wedbush Morgan Securities. But he and others also expect a focus of game companies on increased global reach and profitability amid ever-rising development costs that drag down profit margins.
Along with outright acquisitions, this could lead to partnerships or significant investments, which could increasingly bring together companies focused on different regions of the world and different gaming platforms, analysts say. Some even see an increased possibility for media companies folding their gaming business into a public game firm and taking a stake in the merged entity.
For now, though, Sterne, Agee & Leach analyst Arvind Bhatia said Activision Blizzard will have the highest margins in the industry by far. "There is potential for the combined entity to reach 30%-plus operating margins," compared with the more common operating margins in the 10%-20% range, he said.
Meanwhile, EA -- known among other things for its "Madden NFL" series -- has been trying to strike its own deal. While it wouldn't significantly build its Mmo and global reach, a takeover of Take-Two Interactive could add the hit franchise "Grand Theft Auto" to EA's arsenal.
While various analysts like shares of EA and the new Activision Blizzard for their scale and potential bottom-line improvements, Ernst is most bullish on a foreign player: Nintendo. He said the Wii console is starting to really be "a significant driver" of earnings this year, and Nintendo also should continue to benefit from a sales shift away from the Sony's PlayStation and Microsoft's Xbox.
- 7/7/2008
- by By Georg Szalai
- The Hollywood Reporter - Movie News
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