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Take-Two Interactive (TTWO +3.1%) rallies after beating FQ2 estimates thanks to strong sales of...

Take-Two Interactive (TTWO +3.1%) rallies after beating FQ2 estimates thanks to strong sales of Borderlands 2, and announcing Grand Theft Auto V will arrive in spring. FQ3 guidance for revenue of $325M-$375M and EPS of $0.45-$0.60 is below a consensus of $434.1M and $0.73, but Take-Two investors, accustomed to seeing such forecasts, seem to have priced that in. Meanwhile, Electronic Arts (EA +2.5%) is trekking higher in spite of delivering poor guidance to go with an EPS beat. (EA transcript)

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