stock
Latest
The business end of the console wars
The console wars are everywhere these days -- even in Businessweek magazine, and the Wii and PS3 aren't even out yet!Nintendo's high numbers in the market haven't been missed by stockwatchers; the Businessweek article points to the incredible success of the DS when projecting how the Wii will fare. But the article ventures behind the numbers and into surprisingly apt analysis, considering the type of publication. But perhaps that just goes to prove the widening of the gaming market, and its emergence as a true force in the global economy. While the piece kicks off as a look at projecting the business side of the console wars, it quickly becomes a Nintendo love-in. We understand that mentality around here and can't help but fawn over the Wii ourselves. However, there are some interesting tidbits therein. Why Wii will succeed (according to Businessweek): Unique and innovative system offers developers more latitude Price point -- no one can argue that Wii're cheaper! Wider market -- count on the business-minded to pick up on Nintendo marketing to everyone, not just gamers The glowing praise drops off near the end with the article's projected sales numbers for the PS3 and Wii. Despite the PS3's exorbitant pricetag, Businessweek expects the console to outsell Wii. Wii may just have to prove them wrong on that one.
Infinium founder charged with using "impending Phantom launch" to inflate and sell stock
Timothy Roberts, the founder and former CEO of Infinium Labs, the company that promised us the Phantom (which came in at second on Wired's list of vaporware products of '06), has been accused by the Securities and Exchange Commission of artificially inflating stock and selling it on at a $422,500 profit. The SEC alleges that Roberts hired a promoter to send junk faxes to investors citing the Phantom's imminent launch, when in fact the console had postponed the launch due to insufficient funds. According to the SEC, Roberts then sold 1.3 million shares from the company -- without any disclosure -- and secretly paid the promoter he had hired. These two actions, unfortunately for Roberts, are against the law: the SEC has asked a court to force Roberts to surrender the cash, pay a penalty and to prohibit him from ever becoming a CEO again.Meanwhile, the company -- sans Roberts -- has blown through $63 million without producing the Phantom and has lost another CEO yet still claims to be relevant and capable of launching The Phantom along with a useless lap-based keyboard accessory. Someone put the company out of its misery. Pretty please?[Thanks, Neal]
Prospect of HDTV sales keeps Best Buy's stock highly rated
Maybe confusion is slowing HDTV sales, or maybe not, but one Piper Jaffray analyst thinks Best Buy's stock is a good pick because of their tech support business and also the growing market for high definition TV's and next generation game consoles. I haven't been in a Best Buy in a while to check out their "personal shopping assistants", but a blogger at Kotaku did and had a decent, if mixed experience. PSA's or not, they seem to be very optimistic expecting DTV sales growth of 100% next year. Any of you had help or no someone who had help from one of Best Buy's "blue shirts"?
