Activision Blizzard, Inc (ATVI) - NASDAQ
  • Wed, Feb. 17, 7:20 PM
    • Activision Blizzard (NASDAQ:ATVI) finished up 0.1% in its second straight positive session, after last week's tumble following a weak Q4 and below-consensus guidance. Shares fell 7.9% Friday, but had risen 4.6% yesterday.
    • Despite gloom around the stock, Hilliard Lyons has upgraded shares to Buy from Neutral, with a $34 price target (15% upside from today's price). And Robert Baird and Stifel Nicolaus maintained Buy ratings on the videogame maker.
    • The weakness is a buying opportunity, says Hilliard Lyons' Jeffrey Thomison, who pointed to three catalysts in the King Digital acquisition, e-sports and the company's strong pipeline.
    • The King deal is attractive with mobile gaming making up the "largest and fastest growing segment of the gaming industry," Thomison says. As for the pipeline, Overwatch has drawn some excitement in beta testing and could anchor a new franchise, while the company's move into film/TV (starting with Skylanders Academy and Warcraft) looks promising.
    • Robert Baird has a $38 price target, while Stifel trimmed its target to $35, from $43.
    • Related: Activision: A Minor Misstep In A Full Marathon (Feb. 13 2016)
    • Related: Activision Blizzard: Yes, Q4 Was That Bad (Feb. 12 2016)
    | Wed, Feb. 17, 7:20 PM | 15 Comments
  • Fri, Feb. 12, 12:37 PM
    | Fri, Feb. 12, 12:37 PM
  • Fri, Feb. 12, 9:17 AM
    | Fri, Feb. 12, 9:17 AM
  • Fri, Feb. 12, 5:06 AM
    • A number of analysts lowered their price targets for Activision Blizzard (NASDAQ:ATVI) following yesterday's earnings miss.
    • Mizuho lowers 12-PT to $35 from $42.
    • Atlantic Equities lowers PT to $40 from $45.
    • Piper lowers PT to $39 from $42.
    • Barclays lowers PT to a Street low of $32 from $40. Street high is Wedbush at $47.
    • Pacific Crest lowers PT fo $36 from $41.
    • Macquarie lowers PT to $33 from $36.
    • Shares fell 14% in after-hours trading to $26.25, a level not seen since August.
    • Note: Activision Blizzard CEO Robert A. Kotick on Q4 2015 Results - Earnings Call Transcript (Feb. 11)
    | Fri, Feb. 12, 5:06 AM | 1 Comment
  • Thu, Feb. 11, 5:35 PM
    | Thu, Feb. 11, 5:35 PM
  • Thu, Feb. 11, 4:55 PM
    • Activision Blizzard (NASDAQ:ATVI) has taken an after-hours dive, -16%, after it posted a Q4 miss on profits and sales despite some well-catalogued holiday game success.
    • The company guided well below expectations for Q1 profits. Non-GAAP net revenues of $2.118B were down 4% and also fell below the company's own prior outlook of $2.148B.
    • Call of Duty: Black Ops 3 was the year's best-selling physical videogame despite a November release. However, casual titles -- mainly Skylanders SuperChargers and Guitar Hero Live -- were "weaker than expected, we believe largely due to greater competition in the toys to life genre and due to the casual audiences shift to mobile devices."
    • Once closing on the acquisition of King Digital, though, "we will have the largest game network in the world, with over 500 million users playing our games every month," says CEO Bobby Kotick.
    • For Q1, it sees non-GAAP net revenues of $800M (vs. consensus of $756M) and EPS of $0.11 (well below an expected $0.18). For the full year, it's forecasting non-GAAP net revenues of $6.25B (vs. consensus of $5.47B) and EPS of $1.75, above expectations for $1.72.
    • Conference call link
    • Press Release
    | Thu, Feb. 11, 4:55 PM | 6 Comments
  • Thu, Feb. 11, 4:22 PM
    • Activision Blizzard (NASDAQ:ATVI): Q4 EPS of $0.83 misses by $0.03.
    • Revenue of $2.12B (-4.1% Y/Y) misses by $80M.
    • Shares -10%.
    • Press Release
    | Thu, Feb. 11, 4:22 PM | 12 Comments
  • Wed, Feb. 10, 5:35 PM
  • Mon, Feb. 8, 5:48 PM
    • Activision Blizzard (ATVI -5.9%) says in an 8-K that it's satisfied another of the terms related to its takeover of King Digital Entertainment (NYSE:KING) with clearance from South Korean regulators.
    • The Fair Trade Commission of the Republic of Korea has given the OK to the $5.9B deal, leaving just a few steps left.
    • The company must satisfy an EU Merger Regulation condition, and get sanction from the High Court of Ireland (where King is based) at a hearing set for Feb. 18. Activision says the scheme of arrangement is expected to take effect Feb. 23.
    • Activision shares are up 0.5% after hours.
    | Mon, Feb. 8, 5:48 PM | 8 Comments
  • Mon, Jan. 25, 4:50 PM
    • After a look at the holiday season, Credit Suisse is still bullish on a pair of videogame makers.
    • The firm's Stephen Ju has reiterated Outperform ratings on Electronic Arts (EA +0.8%) and Activision Blizzard (ATVI -3.3%). He's got a Neutral take on Take-Two Interactive (TTWO -0.1%). Of those, it's EA that hasn't taken a hit over the past month; ATVI is down 10.8% and TTWO down 6%.
    • The firm has maintained its price targets on EA ($90, 29% upside from today's $69.92) and Take-Two ($35, 4% upside from today's $33.61) and bumped its target on ATVI from $40 to $41 (18% upside from today's $34.73).
    • “The biggest changes to the model come for ATVI as we adjust for Overwatch and layer in contribution for KING," Ju writes. "For EA and TTWO we have made only modest adjustments to our near-to-medium term unit volume estimates as the product release slate has not changed materially."
    • Ju estimates Activision will sell 18M units of Call of Duty: Black Ops 3 in fiscal 2015, and that EA will still sell 12.85M units of Star Wars: Battlefront in fiscal 2016.
    | Mon, Jan. 25, 4:50 PM | 7 Comments
  • Fri, Jan. 15, 10:45 AM
    | Fri, Jan. 15, 10:45 AM | 5 Comments
  • Thu, Jan. 14, 7:54 PM
    • December marked a strong month for new videogames, though the sum was down slightly Y/Y likely due to drag from older-generation consoles.
    • New games at retail sold at the pace of $3.22B, NPD Group reports, down from 2014's $3.26B. Hardware and software were down, though accessory sales rose 10%.
    • A 4% increase in spending on newest-generation PlayStation 4, Xbox One and Wii U was offset by a 71% drop in PlayStation 3, Xbox 360 and Wii hardware. Overall, hardware sales fell 6% Y/Y. Unsurprisingly, December was the best month on record for software for the newest consoles.
    • In U.S. new physical software: December is usually Call of Duty month and this one was no exception, as Call of Duty: Black Ops 3 (ATVI +1.6%) won the period, followed by Star Wars: Battlefront (EA +1.7%) and Fallout 4 (Bethesda Softworks). With holiday gifting, the rest of the chart was full of familiar names: Take-Two's (TTWO +0.6%) Grand Theft Auto V, sports games from EA and Take-Two, and Minecraft (MSFT +2.9%).
    • As usual, Sony's (SNE -0.8%) PS4 was the top-selling console. It beat the Xbox One and Wii U (OTCPK:NTDOY -0.7%) in sales in every month except April and October, and it claimed the crown in the two best-selling months of the year (November and December). Sony says it's nearing 36M PS4s sold overall, after 6.4M-plus from this holiday season.
    | Thu, Jan. 14, 7:54 PM | 7 Comments
  • Wed, Jan. 13, 8:01 PM
    • MKM Partners likes videogames in its Media & Entertainment outlook for 2016 -- and of those companies, Electronic Arts (EA -3.4%) is its top pick, though it also has praise for peers Activision Blizzard (ATVI -6.1%) and Take-Two Interactive (TTWO -3.3%) in that sector.
    • MKM's joining a chorus noticing EA's strong game slate for this year, and it says the company should also benefit from continuing margin expansion, "which has been fueled by steady gross margin improvement and declining operating expenses," Eric Handler writes.
    • The firm thinks EA can expand EPS growth through mobile sales of its popular game platforms and deploying excess cash in a variety of ways.
    • Aside from gaming, MKM also points to Imax (IMAX -3.8%), theater operator AMC Entertainment (AMC -2.4%) and Time Warner (TWX -0.7%) as picks.
    • Consumer confidence is looking good in the latter stages of the business cycle, it says, and "as a result, we believe companies best positioned to outperform this year are those in the midst of positive content cycles; and operating in more economically resistant segments, particularly video games, for which we have a very bullish outlook."
    • Previously: Electronic Arts +1.4% as Piper stays upbeat (Jan. 13 2016)
    • Previously: Electronic Arts launches subscription service for PC gamers (Jan. 12 2016)
    • Previously: Cowen: Mobile gaming points to big quarter for EA (Jan. 07 2016)
    | Wed, Jan. 13, 8:01 PM
  • Wed, Jan. 13, 1:00 PM
    • Activision Blizzard (ATVI -3.2%) has added juice to its film/TV efforts by adding Quentin Tarantino-friendly producer Stacey Sher as co-president of its recently created studio.
    • Sher has produced more than two dozen major films, notably including Tarantino's Pulp Fiction, Django Unchained and current release The Hateful Eight. She's a two-time Oscar nominee, for Django Unchained and for Erin Brockovich.
    • She'll work alongside former Disney strategy exec Nick van Dyk to bring the studio's projects to life, starting with plans for animated series Skylanders Academy and for a "robust" cinematic universe based on Call of Duty.
    • Previously: Activision creates TV/film studio to build off games; releases 'Black Ops 3' (Nov. 06 2015)
    | Wed, Jan. 13, 1:00 PM | 4 Comments
  • Thu, Jan. 7, 4:09 PM
    • Cowen & Co. still loves Activision Blizzard (ATVI -1.4%) among videogame makers, but noted from its December Casual Digital Gaming Monthly survey that Electronic Arts (EA -1.9%) is poised for a "big" quarter in mobile gaming.
    • Most mobile game makers haven't changed position, the survey suggests, but with customer acquisition costs high, the firm expects consolidation ahead (see: Activision's deal to acquire King Digital (KING -0.3%)).
    • EA's mobile share, meanwhile, grew across the board, Cowen notes, and the company may see 50% Q/Q mobile revenue growth when it reports Jan. 26. Madden NFL Mobile actually displaced King's Candy Crush Saga from the No. 3 iPhone spot, and EA saw strength from Star Wars: Galaxy Heroes as well.
    • Previously: Cowen sees strong videogame holiday, with Activision its top pick (Dec. 02 2015)
    • Previously: Activision +2.7% as analysts boost targets on King deal (Nov. 04 2015)
    | Thu, Jan. 7, 4:09 PM | 10 Comments
  • Mon, Jan. 4, 5:33 PM
    | Mon, Jan. 4, 5:33 PM | 4 Comments
Company Description
Activision Blizzard, Inc. is an online, personal computer, video game console, tablet, handheld and mobile game publisher of interactive entertainment. The company operates through three segments: Activision Publishing, Inc., Blizzard Entertainment, Inc and Activision Blizzard Distribution. The... More
Sector: Technology
Industry: Multimedia & Graphics Software
Country: United States