Ticker Shock: Activision Still In the Game; Las Vegas Sands Rolls a Snake Eyes

Asia was evidently in a sour mood this morning. The Hang Seng Index was off more than 2% as we slumbered - and the Nikkei was down more than 3%. European stocks were also in the red, and here in the US we're currently trading lower.

Here’s what I’m looking at:

Activision Blizzard (ATVI):
The big-name California-based game publisher was out with its fourth-quarter numbers. Excluding items, it earned $0.31 cents a share -- $0.02 better than what the Street had been figuring -- in the period ending December 31.

Go Guitar Hero!

Of course things aren’t all fun and games. In conjunction with the release, the company indicated it’s looking to earn $0.03 on a non-GAAP (generally accepted accounting principles) basis for the March period. Problem is, the estimate I’m seeing is for $.011.

To boot, for fiscal year 2009, excluding items, Activision is looking to put up $0.61, which is apparently $0.06 south of expectations.

I like the company, but this news is disappointing. My guess is the analyst community will be taking down its estimates in the days ahead, which in turn could drive the stock lower.

Las Vegas Sands (LVS):
Looks like the company rolled a snake eyes.

In the period ended December 31, the casino operator dealt investors an adjusted loss of $0.04 a share, which was well below the $0.04 cent profit analysts had been looking for. Meanwhile, revenue came in at almost $1.1 billion, somewhat shy of what Wall Street had been expecting.

It could have been worse. In fact, I have a hunch that some thought the loss would be even steeper. That said, I'm far from “all in.” I’m concerned about what the next few quarters may bring, and with shares under $5, I’m wondering how much attention the company will get from institutions. My guess: Not too much.