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Nintendo shares hit 7-month low on recession fears
Seems the money-market-fueled stock dip Nintendo suffered last week isn't over yet. Bloomberg is reporting that the company's stock tumbled down 5.9 percent today to its lowest point since early July '07.The reason for the precipitous fall isn't so much Nintendo's recent performance -- the company is still more profitable than a solid-gold hippopotamus that periodically spits out smaller golden hippopatami. According to Bloomberg, the stock sell-off for Nintendo and other export-based Japanese companies seems to be based on the recently reported rapid contraction of the U.S. service industry, which has also caused problems for the U.S. stock market. Traders are reading the contraction as a strong sign of a long-predicted U.S. recession, which means less money to go around for non-essentials like video games.Will less discretionary spending mean tougher times ahead for the games industry, or is huge growth last year indicative of a somewhat recession-proof sector? We'll see, but in the meantime we'd recommend stuffing your mattress with small bills and loading up on canned goods. You know, just in case.
Giant Interactive breaks the fourth wall by issuing virtual stocks
In a strange bit of news from the far east, we've just learned that Giant Interactive, the Chinese game developer/publisher behind Zhengtu Online, will be doling out virtual shares of their stocks that will be redeemable for gold in-game, with the in-game value varying depending on the market value of their real-world stock at any given time. Giant Interactive officially goes public on the NYSE this Wednesday.We're still a bit confused by what they mean by issuing stock. Will shares be available for purchase with in-game gold or is it being handed out for free as some sort of PR stunt? If they're using in-game gold (or even real cash), is this an attempt to gain market capitalization? We know China's laws are bit a different than what we're used to, but is this sort of thing even legal? Does it even matter? It is a mystery!Either way, we'll find out soon enough. They'll be issuing the virtual in-game stocks from November 1 through the end of the year. Happy trading![Via Warcry]
Chinese MMO publishers hit the market
China's relationship with MMOs goes much deeper than just RMT scams. In his latest editorial on the Chinese game business for Gamasutra, Shang Koo gives an appraisal of the public offerings of NetDragon and Giant Interactive, two of the premier Chinese game publishers to emerge from the recent gaming boom in the East. Giant Interactive, which is set to premier on the New York Stock Exchange starting this Wednesday, is the publisher responsible for Zhengtu Online, the second-most popular game on the continent since it was released last year. NetDragon, which itself is set to appear on the Hong Kong stock exchange this Friday, developed Eudemons Online and is working with Ubisoft on the upcoming Heroes of Might and Magic.Koo looks at the ways that game sales are affected by the differences in the developer/publisher relationship in China, and forecasts gloomy days ahead for companies trying to license their titles in the enormous Chinese game market, which today is largely dominated by home-grown titles.
Inventec Appliances execs fail to disclose iPod order cuts, could face prison
Earlier this year, Inventec Appliances (spun off from Inventec Electronics) was raided as prosecutors began looking for evidence to support charges of alleged insider trading, and now it looks like nine of the firm's employees could be headed to the slammer. Taiwan's Banciao District Prosecutors Office "alleged that nine executives and one lower level employee failed to publicly reveal a steep drop in iPod orders until after they had sold off nearly $22.4 million worth of stock," and although the employees knew of the order cuts as early as January 19th, nothing was publicly revealed until mid-March. Purportedly, prosecutors "are seeking the stiffest penalties against the two top executives," and if the evidence sticks, we have all ideas that Inventec will be huntin' a new Chairman (and President, too) in the not-too-distant future.[Via TUAW]
Ambient Devices' Market Maven watches stocks, tether free
It's been a long wait to see Ambient Devices' promise of "thin data" wireless devices finally come to fruition, but that doesn't mean all the charm has gone from idea. Case in point: this here Market Maven, which Ambient Devices is prepping to launch in September, might not do anything you can't already pull off with your Optimus Mini Three or even a simple desktop widget, but there's an undeniable beauty to the thing all the same. Of course, you might quickly forget how great this guy looks when you realize that all it can do is pull the DJIA, NASDAQ and S&P 500 activity every 15 minutes, tell you if the market is open, and let you know the time. That makes it hard to justify the $125 asking price, but the good news is that after you slap a few AAAs in this guy, it'll do its thing configuration free, with no pesky internet connection or subscriptions to deal with -- data comes courtesy of Ambient Devices' own Infocast Network, which reaches about 90% of US households. Oh well, we're still loving the umbrella.
Apple market cap passes HP
Back on July 10th I mentioned the likelihood that Apple's market capitalization might soon surpass that of the original Silicon Valley success story, Hewlett-Packard. (I also implied that both Steves once worked at HP; apparently Woz was full-time, but S. Jobs was more of a summer intern.) Well, as of this morning Apple's total value comes out to about $127 billion, and HP is at about $124 billion. If this holds through the close, it will mark a generational torch passing into the hands of the future... or something like that.Who's next on the market cap hit list? Well, believe it or not, dear readers, that mom & pop semiconductor basement operation Intel has a valuation around $141 billion; not out of the realm of possibility, if some of the more glowing, write-Apple's-name-on-your-trapper-keeper analyst predictions ($200 a share? $250?) become real.
Sprint explores options for WiMAX, ponders Clearwire deal
Looks like Sprint's feverish approach to WiMAX just swallowed a chill pill, as the firm is reportedly "exploring new options for financing its ambitious plan." In a presumed effort to "soothe investor concerns about the cost of the WiMAX plan," the company is actually investigating a partnership or joint venture with Clearwire in order to simultaneously remove a potential competitor and gain access to the critical Clearwire markets in the southeastern US. Of course, Clearwire isn't one to shy away from high stakes partnerships, and the FCC nod for a WiMAX-class laptop card that it garnered just last month could fit in quite well here. Still, Clearwire is refusing to comment just yet on whether this possibility is even feasible, but the mere mention of a spinoff likely means that Sprint isn't feeling all too peachy about future WiMAX profitability. [Warning: Read link requires subscription][Via InformationWeek]
Kabu Trader Shun's minigame and big trailer
Half adventure game, half stock trading battles, Kabu Trader Shun hits Japanese stores later this week. Looking to promote its release, Capcom posted a Flash minigame complementing the Phoenix-Wright-styled title. Players can live out the after-hours-lounge experience of a stock trader, text messaging a needy girlfriend while trying to keep the boss' drink filled at the same time. It's a simple, fast-clicking diversion, but seeing the creative steps companies are taking to advertise their games is always interesting.We happened to also spot a lengthy trailer during our stay at Kabu Trader Shun's official site, though we can't guarantee its freshness. Clocking in at just over two-and-a-half minutes, the video introduces the game's characters, trade battles, and adventuring sequences. Head past the post break for the movie.
Welcome Blogging Stocks
We here at TUAW don't know our dividends from our splits, luckily for us the latest member of the Weblogs, Inc family is here to save the day. Blogging Stocks is a finacne focused blog that, for the moment, is covering eight differnet companies. Why should you care? Well, our favorite fruity computer company is one of the eight. Check out bloggingstocks:aapl for obsessive Apple stock coverage.
