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TTWO

Take-Two Interactive Software, Inc.

5/18/2013, 7:08 PM ET

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Friday, May 17, 5:04 PM GameStop (GME +4.5%) closed with a big gain after NPD reported U.S. physical retail video game sales fell 17% Y/Y in April, better than some feared; they fell 1% in March, and 27% in Feb. Hardware sales fell 42%, as gamers wait for this fall's launches. Total industry physical retail sales fell 25%; as Electronic Arts (EA +0.9%) and Activision's (ATVI +0.5%) latest results show, such sales make up a declining portion of industry revenue. Take-Two's (TTWO +1.9%) Bioshock: Infinite and NBA 2K13 were the month's 3rd and 7th-most popular titles, and Activision's Call of Duty: Black Ops 2 and Skylanders Giants were #4 and #8. Comment! [Tech, Consumer, On the Move]
Tuesday, May 14, 9:10 AM Premarket gainers: PDII +33%. ECTY +20%. NSPH +18%. SNE +9%. WPX +8%. TTWO +6%. TSLA +6%. RENN +5%.
Losers: TRMD -15%. MOSY -13%. PT -11%. VELT -10%. SCTY -10%. TSL -6%. NBG -6%. 2 Comments [On the Move]
Monday, May 13, 5:45 PM After-hours top gainers, as of 5:15 p.m.: PDII +26.9%. NSPH +20.1%. III +11.6%. TTWO +4.1%. NTI +2.9%.
After-hours top losers: MOSY -9.4%. ATAX -4.6%. SPH -4.3%. WES -3.9%. IMUC -3.6%. Comment! [On the Move]
Monday, May 13, 5:39 PM More on Take-Two: FQ1 guidance is for revenue of $100M-$125M and EPS of -$0.70 to -$0.55, below a consensus of $217.3M and -$0.03. FY14 guidance is for revenue of $1.75B-$1.85B and EPS of $2.05-$2.30 vs. a consensus of $1.78B and $2.26. Company expects to be profitable in FY15 and beyond. 3.7M+ copies of Bioshock Infinite have been sold since game's March 26 launch. Grand Theft Auto V still set for Sep. 17 release; NBA 2K14 arrives on Oct. 1. Opex +25% Y/Y to $116.1M in FQ4; R&D spend +43% to $21.2M. Sales of "digitally delivered content" +192% Y/Y and 27% of revenue. TTWO +3.8% AH. (PR) Comment! [Tech, Earnings]
Monday, May 13, 4:08 PM Take-Two (TTWO): FQ4 EPS of $0.38 beats by $0.15. Revenue of $303.1M beats by $22.74M. Shares +3.4% AH. (PR) 1 Comment [Earnings, Breaking News, Tech, On the Move]
Monday, May 13, 12:10 AM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Sunday, May 12, 5:35 PM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Friday, April 19, 4:31 PM Take-Two (TTWO +3.8%) closes with a strong gain after NPD reports BioShock Infinite was the best-selling traditional video game in the U.S. in March. NBA 2K13, another Take-Two title, came 8th. NPD's industry-wide data was mixed. Retail console sales fell 32% Y/Y, nearly as bad as February's 36% drop, but game sales only fell 1% after declining 27% in the prior month. Accessories sales rose 15%, thanks in part to strong demand for Skylanders (ATVI +1%) merchandise. 1 Comment [Tech, On the Move]
Thursday, March 28, 6:49 PM Even as console game sales tumbled and PC demand slipped, PC game sales grew 8% last year to $20B, estimates research firm DFC - this figure includes money spent on online titles. Demand from China is believed to have risen 9% to $6.8B, and positive growth was also reportedly seen in the U.S. and Japan. Interestingly, industry trade group PCGA argues mobile is helping PC gaming enabling smaller developers to launch cross-platform initiatives. Comment! [Tech]
Thursday, March 21, 11:21 AM Longbow upgrades Electronic Arts (EA +2.9%) to Buy just two days after shares tumbled due to the FQ4 warning accompanying John Riccitiello's departure. Rival Take-Two (TTWO +1.7%) is also rallying. Comment! [Tech, On the Move]
Tuesday, March 19, 12:29 PM Electronic Arts (EA -7.7%) is now seeing big losses, as the Street concludes its March quarter warning takes priority over John Riccitiello's resignation. Game developers Activision (ATVI -2%), Take-Two (TTWO -1.8%), Zynga (ZNGA -1.7%), and Glu Mobile (GLUU -6.8%) are also lower, as is retailer GameStop (GME -2.3%). EA's warning comes a few days after NPD provided more downbeat retail sales data for the industry to chew on, as aged consoles and a shift to mobile gaming continue taking a toll. (earlier) 5 Comments [Tech, On the Move, Consumer]
Friday, March 15, 3:59 PM NPD's latest round of bleak video game sales data is leading Electronic Arts (EA -2.4%), Activision (ATVI -2.6%), and Take-Two (TTWO -1.6%) to close lower. A 27% Y/Y drop in U.S. physical retail game sales was worse than the normalized 19% drop seen in January, as demand remains tepid ahead of this fall's PlayStation (SNE) and Xbox (MSFT) refreshes. Console sales fell 36%, worse than January's normalized 17%. The Xbox was the best-selling console for the 19th straight month, and the PlayStation Vita and Nintendo's (NTDOY.PK) Wii U saw strong M/M growth off small bases. 1 Comment [Tech]
Thursday, February 21, 11:19 AM Wal-Mart read-throughs: The giant accounts for close to 10% of all of retail sales, so when WMT speaks people listen. According to its earnings call (transcript .pdf), baby formula (MJN) and energy drink (MNST) sales were up strong at Sam's Club. No big surprise, but office electronics and video games (TTWO, ATVI) were weak. 2 Comments [Consumer, Tech, Healthcare]
Tuesday, February 19, 2:46 PM Electronic Arts (EA +3.4%) and Take-Two (TTWO +3.1%) have rallied today; EA is within a hair's breadth of its 52-week high, and Take-Two is only 4% away from its own. The latest reports (I, II) about Sony's upcoming PlayStation 4 (expected to be announced tomorrow) could be stoking investor optimism. Both game developers rallied (I, II) following their calendar Q4 reports. Comment! [Tech, On the Move]
Friday, February 15, 11:41 AM Activision (ATVI +1.7%) and Take-Two (TTWO +1.6%) are higher after Piper argues NPD's January data indicates the game developers continue to take share, and that U.S. physical retail video game sales were better-than-expected (even if they fell 19% Y/Y on a normalized basis). Activision's Call of Duty: Black Ops II was January's bestselling title, and Take-Two's NBA 2K13 came in at #4. Electronics Arts (EA -1.1%) and GameStop (GME -1.4%) are lower. Comment! [Tech]
Wednesday, February 13, 6:33 PM Take-Two (TTWO) is taking over the development of World Wrestling Entertainment (WWE) video games from bankrupt THQ (THQIQ.OB). WWE's licensing business, which is dominated by video game royalties, accounted for 7% of its Q3 sales. Comment! [Tech, Consumer]

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