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AAPL hits 52-week low, cries itself to sleep
Apple shares today dropped to an intra-day 52-week low of a penny over $75, and rebounded to close at $80.49 per share. That was down 5.8 points from yesterday's close. This marks the lowest prices for Apple stock since the introduction of the iPhone in early 2007. Many stocks lost ground today in a broad market selloff that saw the Dow Jones Industrial Average down nearly 445 points. Marketwatch.com's Rex Crum says that AAPL has lost "the iPhone premium": That is, whatever gains the company made since the introduction of the popular handset. Apple shares hit a peak of almost $203 per share late last year, but those days are long gone. If there's a silver lining to this gray cloud, it's that now might be a good time to buy. Macworld Expo is coming in January. In years past, the stock price has risen in anticipation of product announcements at the expo, leading to a selling frenzy the day of the keynote. Of course, past performance does not necessarily indicate future results. In this market, who knows?
SCi invites Warner Bros to buy more stock
SCi is getting used to being on a dinner plate, so much so that the financially despondent publisher has invited Warner Bros. to the table for seconds. In the wake of the home entertainment giant's £60 million investment earlier this year, the Eidos parent put a freeze on Warner Bros' ability to purchase any more of SCi's precious stock until January 25, 2009, a hold that Gamasutra reports will be lifted a bit sooner than expected. According to the report, the pair will be able to resume their financial tango on December 1, 2008, with the caveat that Warner Bros. will not be allowed to own more than 30 percent of SCi's total worth. Warner's investment in SCi currently stands at 16.13 percent, giving the media company ample opportunity to gift wrap just what every struggling company would want to find under its tree this Christmas -- freedom from financial ruin.
Matsushita Electric becomes Panasonic, like, for real
We've been hearing that Matsushita was jonesing to become Panasonic for months now, but at long last, the company (companies?) has finally pulled the trigger. As of October 2008, Matsushita Electric Industrial Company has become Panasonic Corporation, and its stock ticker symbol on the NYSE has been changed from MC to PC. Additionally, Panny is working on "brand changeover from National to Panasonic within Japan," which probably won't be completed until March of 2010. So yeah, Matsushita's logo actually isn't going anywhere just yet, but we appreciate the effort, guys.
Game publishers bloody but unbowed after stock ruckus
Nobody but the most sunless and fungal of stock stereotype MMO-playing basement dwellers could fail to be aware of the recent events in the markets. Reports have been filtering through the various industry sites of how game publishers have fared. The stand-out news is Activision Blizzard's clobbering, ending the day 13.8 percent down; EA also suffered, dropping 9.16 percent. Various other game publishers also caught the flak, including UbiSoft who ended 14.4 percent down, but the overall sentiment is still the same: the game industry is robust. It would have been surprising if MMO publishers' stock hadn't suffered a decline in value, given the economic context. What's interesting to us is the attitude that games are a solid investment, possibly even more so in times of unease and uncertainty. Much like movies in the time of the Great Depression, MMOs offer a chance to escape the real world for a while and enjoy an immersive, imaginative experience detached from everyday concerns. The great mistake is to see that as a negative, a flight into escapism, rather than a crucial part of the process by which human beings recover their energy and return to coping with the world.
Nintendo stocks rise, execs get jewel-encrusted unicorn bonuses
Or, in the case of the fellow to the right, the Tony Montana bathtub.For those of you who've been keeping track of the business situation with Nintendo, then you've already got your party hat on and have made several copies of your butt with the Xerox machine. Nintendo's stocks are on the rise. In fact, they're at a five-month high.What's behind this rise? Well, The Telegraph is reporting that it's due to those of us here in the United States, because we've been buying up Wiis and Nintendo products like it's going out of style. So, if you've bought a Wii or Nintendo game recently, pat yourself on the back. You're helping Nintendo prosper.[Via GamesIndustry.biz]
Analyst: Activision is a better investment than EA
We'll start this one off with the caveat that these days, you can find an analyst to tell you anything you want, so just in case you want to hear that Activision is apparently a "better investment" than Electronic Arts, Deutsche Bank analyst Jeetil Patel is your man. He says that Activision (the company that's merging with Vivendi/Blizzard, doncha know) is "way ahead" of its big competitor EA in terms of profitability.His comments are more of an attack against EA than a compliment for Activision, however -- he mentions Call of Duty and Guitar Hero as big franchises for Activision, and they are, but he doesn't say a word about the Blizzard merger at all. And on the EA side, he leaves Rock Band off the list completely (EA is distributing it, not publishing it), and makes no mention at all of Madden or any of EA's other big franchises). Plus, he's been down on EA for a long time.In short, this isn't going to change anyone's mind. If you're a fan (or stockholder) of Activizzard, then great, there's a bright future in it for you. And if you're not, and you'd rather embrace EA, this guy is just biased enough that he's not going to change your mind. But we're all for competition anyway -- it can be good games time now?[via Joystiq]
Activision stock reaches a new 52-week high
Steven Mallas over at BloggingStocks notes that Activision's stock (AVTI) capped a new 52-week high yesterday at $36.84. By the end of the day, the final price was slightly lower, but overall it grew nearly 5%. Mallas mentions what's on all of our minds -- Guitar Hero for DS, sure, but Activision is about to pick up a 10-million subscriber powerhouse called Blizzard. That's worth a little something to investors. So while other, similar companies lost share price yesterday (Electronic Arts and Take Two, for example), our Activision overlords (whom I, for one, welcome with open arms) continues to do well. With Wrath of the Lich King pending around the corner, we can hope for the stock to pick up a few additional pennies. I don't know what effect the whole eSport buzz might have, but it could still be too early to tell.
AAPL recovering after initial WWDC nosedive
In heavy trading volume today, Apple stock (AAPL) is down four percent after initially dropping to 176.23 halfway through the keynote at 1:55 p.m. Eastern time. At the time of posting, AAPL was trading near 177, which is a decline of over four percent since the closing bell yesterday Friday. (It's been a long day.) Apple stock has taken hits in the past on announcement days, usually due to traders looking to make a quick buck from the high interest surrounding coverage of the event. An update, after the jump.
Itagaki's departure causes Tecmo stock plummet
Turns out Tomonobu Itagaki's imminent lawsuit might not be Tecmo's biggest problem after all. Within two days of the Ninja Gaiden developer's abrupt resignation from the company, Tecmo shares on the Tokyo Stock Exchange dropped rapidly. Assurances that Team Ninja would remain (largely) intact apparently did not appease the stockholders. Shares dropped over 10% from Tuesday's closing of ¥1,102 (USD 10.40), to today's closing of ¥982 (USD 9.30). Not a good start to the company's new Itagaki-less lifestyle, to be sure.
Tecmo responds to Itagaki, stock prices fall
Well, what did you expect when one of the most notable icons in the gaming industry decided to depart from his longtime employer practically out of nowhere? Certainly Itagaki and Tecmo's president, Yoshimi Yasuda, wouldn't just shake hands, agree to disagree and go their separate ways. There's money at stake here!And following Itagaki's departure, Tecmo has finally come out and said some things regarding the bad break-up. "The legal complaint is in regard to a claim to an incentive bonus linked to a past project," says the Tecmo press release. "The parties could not reach an amicable resolution to this matter, and Itagaki chose to seek a legal remedy. Tecmo will let the court decide the outcome of this case and will seek a true, fair, and quick resolution." For fans who are looking forward to other installments in Team Ninja's franchises, apparently Tecmo is still planning on producing those games, as the press release says that Team Ninja is "intact and, as a matter of fact, has several new projects already underway."Despite the company's commitment to supporting these franchises, many think Itagaki's departure will be a bad thing for Tecmo, as stock prices plummeted in the wake of the Team Ninja head's resignation. Taking a 10% loss in price, you can bet Tecmo is not happy about this whole fiasco. One thing Tecmo will undoubtedly be giddy about, however, is the new smoke-free offices and policy that dictates employees aren't allowed to get wasted on whiskey while on the job.Source - Tecmo fires back at ItagakiSource - Stocks plummet after Itagaki departure
SCi receives, turns aside potential takeover bid
While talk of a takeover of British publisher SCi continues to be tossed around, this doesn't mean that Lara Croft's troubled parent is open to shacking up with just anyone. This week the company confirmed that it has received an offer from an unspecified suitor at a "significant premium" to SCi's current share price. However, the company stayed strong, turning away what we imagine to be bags of money emblazoned with dollar signs, claiming the offer was "not be in the best interests of the company or its shareholders." Still, with 14 projects in the vertical file and key management on the run, it might be time for SCi to lower its standards.
The Daily Grind: Do we really need greater Web integration?
You hear it all the time, especially when pundits talk about Second Life: how our virtual worlds and MMOs will one day become so integrated with the World Wide Web that you'll be able to check your bank balance from World of Warcraft; you'll order books from within Everquest; you'll chat with AIM friends while still in Pirates of the Burning Sea. Sure, at first glance, it seems like a good, maybe even necessary. But think about it -- when you're playing your favorite game, do you really need to do any of those things? Isn't that the reason you play in the first place, to get away from other concerns?When we're in Second Life, we're engaged with talking and playing with our SL friends. When cutting a swath of destruction through marauding bands of orcs in Lord of the Rings Online, we're miles away from worrying about what our stocks are doing. And just think of how much concentration Puzzle Pirates demands -- do you really want to dilute it with putting together an important email? What does greater Web integration mean to you?
Nintendo stock rating downgraded because of demand worries
Nintendo stockholders have been profiting from their investments over the past year, but that might change in the near future. At least, that's what KBC Securities Japan thinks, and the company has thus downgraded Nintendo's stock investment rating from "buy" to "hold."One reason for the downgrade is the fear that Nintendo's sales will stall. Now that the Wii and DS have been around for a while, KBC is worried that demand for Nintendo's products will lessen in the coming months. The weakening dollar will also make overseas sales drop in value.Since economics is like alien speak to us, we're not sure how much weight KBC's rationale holds. It's true that Nintendo will have a hard time showing up the numbers of Wii Sports, Wii Play, and Wii Fit, especially in Japan -- the casual market is a key area when it comes to Nintendo's more explosive sales. Also, the DS is no longer the dominating force in Japan like it used to be, while the PSP has increased in popularity. Yet, even so, demand for Nintendo consoles and games is still high worldwide, so KBC might be jumping the gun. [Via Joystiq]
Take-Two rejects EA acquisition proposal [update 1]
Apparently, it didn't take them very long to consider Electronic Arts' somewhat hostile buyout proposal -- Take-Two's Board of Directors just responded to the offer with a press release of their own, stating that EA CEO John Riccitiello's proposal was "inadequate in multiple respects and not in the best interests of Take-Two's stockholders."While EA's proposal listed Grand Theft Auto IV as a primary reason for the merger, as Riccitiello claimed EA could lend their help during the game's quickly approaching release, Strauss Zelnick, Take-Two's executive chairman, listed GTAIV as the primary reason why they wouldn't want to merge at this point in time, fully expecting to increase their overall value when the game hits store shelves come April 29.Zelnick's laundry list of reasons why the buyout wouldn't benefit his company can be found on the press release. For now, let us rejoice in the postponement of the seemingly inevitable future where one superconglomerated gaming publisher/developer controls all game releases on the planet.Update: MTV Multiplayer's Stephen Totilo just had a chat with industry guru Michael Pachter, who claims that this probably isn't the end of the ordeal, and that EA will eventually get their way -- though it might not happen for a while.
Nintendo stock set to hit 7 month low
Nintendo's stock prices have been on a steady decline as of late. Just weeks ago, the stock took a slight tumble. This was mainly due to investor fear of the dollar getting weaker combined with the continuing hardware shortages plaguing Nintendo.And despite what some folks see the company doing financially throughout this year, the stock continues to fall. Falling 5.9 percent to 45,800 yen, this is the lowest the stock has been set to fall since July 2nd of last year, a 7 month low. As for the future of Nintendo's stock, we hear it's better to buy when it's low, and sell when it's high. Not that we're qualified to give stock advice or anything ...[Via Go Nintendo]
Nintendo stocks slip slightly
Nintendo's stocks have taken a small hit today, as a strong yen pulls in to take a portion of the blame for itself. As Nintendo raised profit forecasts and promised an increase in manufacturing and shipping, last week saw a rise in the video game company's stock. Investors, who fear the strength of the yen and the decline of the dollar, note the large portion of business that comes from exporting product for Nintendo. As such, today saw the stock price fall 5,000 yen to 46,800 yen.Of course, shortages in the U.S. and Europe aren't helping things. Both of Nintendo's products are almost impossible to find, giving investors that much more reason to want to sell shares.
Apple posts first quarter 2008 results
We are in the process of liveblogging Apple's financial conference call, but Apple has already posted their quarterly results for all to read. Here's what Apple sold this quarter: 2,319,000 Macs (44% more than last quarter) 22,121,000 iPods (5% more than last quarter) 2,315,000 iPhones Revenues clocked in at $9.6 billion and a net profit of $1.58 billion.Best. Quarter. Ever.
AAPL, Blockbuster and Netflix down following Macworld Keynote
Blockbuster and Netflix's stocks both took big hits based on what we just heard Steve say at Macworld. Blockbuster has dropped a handy 15%, and Netflix "tumbled 6 percent" already this afternoon (although it's jumped back a bit since then), according to CNN Money. Apparently investors are convinced that movie renters would rather fire up iTunes than run out to the video store or wait for a movie to come in on their Netflix queue.Apple, however, isn't doing that well either after today's announcement. On the day, they've dropped almost $11 as of this writing. But while this Keynote may not quite have met expectations (lots of people were expecting Cinema upgrades, or something a little less traditional than the MacBook Air), this very likely isn't an actual downturn in the ol' Apple hype -- anyone can see that iTunes movie rentals will very likely make them a lot of money. Rather, it's probably* the result of Keynote investors selling off the stock they picked up before the event. In short, it'll take a lot more than an afternoon to see what effect today's announcements really have on stock prices.*All of this commentary and analysis is given by someone who has little to no experience in stock trading, and should not be taken seriously by anyone.
Tracking the Keynote Index Fund
Matt Haughey has worked up a little analysis/thought experiment of just how much money could be made by buying stocks before every Macworld Keynote of the past ten years-- he calls it the Keynote Index Fund, and has the stock prices before every keynote, directly after every 'note, and a day after every 'note.And the fact is that buying the stock a day before and holding it for 48 hours (until the day after) would have made you money over the past ten years-- he calculates 1.2% growth over 24-hour period, and 2.2% growth over a 48 hour period. Of course, that doesn't hold a candle to what you would have earned if you just kept Apple stock the whole time (holding on to $10,000 of Apple stock since 1997 would have you holding shares worth $525,187 today).But the fact is that Macworld keynotes can make wily stock traders money. The worst performing keynote so far was in 2005, when only the Mac mini and the shuffle were announced, and the best was last year, when the iPhone was first introduced. So just standard common sense just tells you that if the iUltraportable does appear, you could probably make money with a little day trading*, but if it doesn't show up (and there are no other major announcements), you could take the worst bath so far on the Keynote Index Fund.*This advice is given by a nonprofessional and should not be listened to under any circumstances or by anyone-- past performance of a stock means nothing to future performance. Plus, I'm still hungover from New Year's Eve, and in no condition to give stock tips anyway.[Via Waxy]
EchoStar names distribution date for separation of businesses
We already knew EchoStar would be going by the entirely more tongue-friendly DISH, but now it has doled out details concerning the actual separation of its businesses. As of 12:01 MST on January 1, 2008, EchoStar will officially retain its pay-TV business while "DISH Network and EchoStar Holding Corporation will hold the technology and certain infrastructure assets of EchoStar Communications Corporation, including its set-top box business and certain satellite assets." After the separation is completed, the actual name change will be green-lit, too. For more on how this affects shareholders, be sure to hit the read link, and be on the lookout for a final information statement early in the new year that lays out more minutiae than you could ever want.
