Ticker Shock: Fun and Games for Activision; No Joy for Cisco, THQ, Whole Foods-Minyanville

Ticker Shock: Fun and Games for Activision; No Joy for Cisco, THQ, Whole Foods

Glenn Curtis Nov 06, 2008 11:20 am

Ticker Shock: Fun and Games for Activision; No Joy for Cisco, THQ, Whole Foods


		Thursday's top stories and stocks with potential to move.

Activision Blizzard (ATVI)

Looks like the third quarter was all fun and games for game publisher Activision.

The California-based company offered up a profit of $0.07 per share, not counting items, which was north of the $0.04 or $0.05 per share the Street had been looking for.

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Its revenue number reportedly came in north of expectations as well. Oh, and by the way: It announced a $1 billion share buyback program.

Folks the fact that the company would be willing to use its precious funds in this manner -- and in this environment -- is a huge sign of confidence in its longer term prospects.

The downside: For the fourth-quarter, it’s apparently looking for $0.29 (adjusted), whereas the Street was reportedly at $0.33.

In short, I think the stock could get a lift today and in the days ahead.

And by the way - Guitar Hero rules!

THQ Inc (THQI)

The video-game publisher offered up its second-quarter earnings after the close yesterday.

Yeesh. Per the release:

“On a non-GAAP basis, the company reported a fiscal 2009 second quarter net loss of $30.4 million, or $0.46 per share. This was below the company’s previous guidance of a loss of $0.35 to $0.39 per share, primarily due to lower-than-anticipated international sales of WALL-E and higher-than-expected sales returns and allowances.”

The Street was at a loss of $0.38 per share.

Perhaps adding fuel to the fire, it indicated that, for the full year, it’s looking for “net sales in the range of $875 million to $900 million.”

A quick gander reveals that it was expected to turn in just over $1.1 billion on the top line.

Overall, not good. Look for the stock to get pummeled today.

Have a great day!


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