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Wedbush's Michael Pachter isn't buying rumors Asian online gaming giant Nexon will buy...

Wedbush's Michael Pachter isn't buying rumors Asian online gaming giant Nexon will buy Electronic Arts (EA +6.9%). With a current market cap of $5.3B, EA would be very tough for Nexon ($8B market cap) to swallow. In addition, employee defections would be huge, Nexon's CEO (owns over 50% of shares) doesn't want to relinquish control, and Nexon has no experience in many of EA's core markets. Also rallying on the rumor: ATVI +2.5%. ZNGA +3.6%. GLUU +3.7%.
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Comments (3)
  • gabbs
    , contributor
    Comments (35) | Send Message
     
    I think GLUU is rallying for its own reasons: a very expected First Quarter 2012 Financial Results on May 2, a target price of around 7 (current price $4.5) among others...
    26 Apr 2012, 02:11 PM Reply Like
  • Seeking Beta To Your Alpha
    , contributor
    Comments (451) | Send Message
     
    ATVI is not rallying on Nexon news, its rallying on investor expectations for the company to beat earnings which will be released on May 9th. If anything, the recent string of tech company earnings reports (APPL, AMZN) are helping to drive ATVI higher.
    27 Apr 2012, 01:38 PM Reply Like
  • gabbs
    , contributor
    Comments (35) | Send Message
     
    Also...Facebook's IPO is bringing attention to the industry...
    8 May 2012, 03:33 PM Reply Like
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