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Take-Two’s Grand Theft on Earnings

|Includes: TEVA, Take-Two Interactive Software, Inc. (TTWO)
1:10pm (EST)
We were hoping for a big rally today but like the three previous triple-witching days this year, the market has traded flat or mixed as we close out the week. Economic news has been light but Tech is getting a lift as the Nasdaq is at fresh 52-week highs.

Take-Two Interactive Software (TTWO, $13.14, up $1.20) is up sharply today (+10%) after blowing past analysts forecasts. The Gaming sector is making a slight comeback and the company is benefiting from their fresh crop of titles that have hit the circuit.

“NBA 2K11”, "Mafia II" and "Red Dead Redemption" played a huge role in the company reporting earnings of $54 million, or $0.58 a share, versus a loss of $24 million, or $0.30 a share, a year earlier. The analysts, who get paid to do research, expected earnings of 0.31 a share. Revenue came in at $374 million versus expectations for $325 million.

Take-Two has added a nice arsenal of titles to its library in addition to the "Grand Theft Auto" series and it was the third straight quarterly profit for the company. Looking ahead, the video-game maker said it expects current earnings of $0.25-$0.35 a share, on revenue of $290-$315 million. The suit-and-ties were looking for a loss of $0.04 on sales of $208 million.

Shares of TTWO were up 6%, to $12.68, last night after the close and those gains held as the momentum continued into today’s session.

We released a NEW TRADE this morning for those who may have missed it and we also wanted to inform you that our Weekly Wrap subscription is now live. We have offered two choices – a 6 month and 1 year membership – the 1 year subscription includes a FREE trading option manual, How to Trade Options on Momentum Stocks, which prices for $599. (For those of you who have already purchased the manual, you are included in the offer and will get your first premium issue this Sunday).

We are also doing a video this weekend that covers strangle option trades and our latest trade we released this morning. We will also go over earnings and possible trades (if any) that we may be adding to our Watch List.

As we head to press, the Dow is down 27 points to 10,471 while the S&P is off a point to 1,242. The Nasdaq is higher by 8 points to 2,645.

We really hope you take the time in joining us for our trading course videos and the Weekly Wrap which will be full of various option strategies but ones that take time.

If you have any questions about our offer, which ends in January, please email us or give us a call. We will be happy to answers all your questions. Until then, subscribers, check the Members Area for the latest trade updates.

We will be back Sunday night with the Weekly Wrap and a look at Teva Pharmaceutical Industries (TEVA, $52.04, down $0.36) which could be setting up for a breakout.