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Given its convenience and social aspects, multiplayer online gaming could continue its fast growth and transform the gaming industry away from the console model.
Activision Blizzard, Inc.
Electronic Arts Inc.
Take-Two Interactive Software, Inc.
Caesars Entertainment Corporation
Churchill Downs Incorporated
International Game Technology PLC
Glu Mobile Inc.
Cheetah Mobile Inc.
SINA's (NASDAQ: SINA) stock surged 10% on July 6 after the Chinese tech company received a go-private offer from New Wave MMXV, a British Virgin Islands-based company controlled by SINA's own CEO Charles Chao. New Wave already held a 55.5% voting stake in SINA after a share subscription agreement in late 2017. New Wave wants to acquire the remaining shares of SINA for $41 per share in a $2.7 billion deal.
Is (ZNGA) Outperforming Other Consumer Discretionary Stocks This Year?
Activision Blizzard, Inc. (Nasdaq: ATVI) intends to release its second quarter 2020 results after the close of the market on Tuesday, August 4, 2020. In conjunction with this release, Activision Blizzard will host a conference call that will be broadcast over the internet.
Video games have never been more popular, and strong performance from gaming companies amid this year's coronavirus-related volatility has highlighted interactive entertainment's appeal as a resilient growth industry. Research from GlobalData anticipates that annual video game revenue will climb from $131 billion in 2018 to $300 billion in 2025, and the category will still have a long runway for expansion past the end of that projection period. If you're looking for investments that offer a rare combination of defensive value and big growth potential, the video game industry is one of the best places to be right now.
The rally comes after a major state-owned financial newspaper said that China requires a bull market to build strength, reviving memories of the bull run of 2015.
(Bloomberg) -- Sina Corp., a Chinese social media company, has received a take-private proposal for $41 a share from an entity led by its chairman.The company said in a statement Monday that New Wave MMXV Ltd., the anglicized name of Sina, submitted a preliminary non-binding proposal letter dated Monday for a “going private” transaction. New Wave is controlled by Charles Chao, chairman and chief executive officer of Sina, according to the statement.At $41, the U.S.-listed company would be valued at about $2.7 billion, an 11.8% premium on its last closing price on Thursday.Sina operates Weibo, a Chinese equivalent of Twitter. The firm was among the first wave of Chinese internet companies to seek listings internationally at the beginning of the century. It went public on the Nasdaq in 2000, with its shares rising 174% since then. The S&P 500 Index rose 116% during the same period.With the encouragement of China’s government and to be closer to their customers, some U.S.-listed Chinese companies have reversed course and sought homecomings via Hong Kong listings in the past year. That includes Alibaba Group Holding Ltd., JD.com Inc. and NetEase Inc.Chao controls 13.5% of Sina’s ordinary shares, according to a filing. Sina said in its statement that New Wave and its beneficiaries control 58% of the voting power in the company. The acquisition, to be financed by a combination of debt and equity, will be evaluated by a special committee set up by Sina’s board, according to the statementAn investor group backed by private equity firms Warburg Pincus and General Atlantic offered in June to take private 58.com Inc., a Chinese online bulletin board akin to Craigslist, in a deal valuing the company at about $8.7 billion.Sina shares jumped as much as 10.8% on Monday after the announcement disclosing the offer. They closed at $40.54 in New York.(Updates with closing share price in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Let's dive into why the video gaming powerhouse might be worth buying as both a near-term coronavirus play and a long-term bet on the future of entertainment...
Each of these companies has a strong business model and the potential for long-term growth. The first pick is Jumia (NYSE: JMIA), a troubled e-commerce company poised for a comeback. The second pick is Glu Mobile (NASDAQ: GLUU), a mobile game developer that can thrive amid the coronavirus pandemic.
Shares of Glu Mobile (NASDAQ: GLUU) gained 53.2% across the first six months of the year, according to data from S&P Global Market Intelligence. Glu Mobile reported fourth-quarter results in February and first-quarter results in May, and its stock saw major positive momentum following each release. Video game stocks have generally performed very well amid 2020's volatile conditions, and Glu's stock gains across first half of the year were significantly better than those of industry leaders including Activision Blizzard, Electronic Arts, and Take-Two Interactive.
Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Cheetah Mobile, Inc. (CMCM)
The company's market-crushing performance this year reflects the strength of its catalog and having the right products at the right time.
Cimpress (CMPR) has been suffering from low bookings across its segments due to the soft-demand environment amid the coronavirus outbreak. Also, the company's high debt level remains concerning.
Shares of Zynga (NASDAQ: ZNGA) gained 55.9% across the first six months of 2020, according to data from S&P Global Market Intelligence. Video game stocks have generally posted impressive gains this year, as shelter-in-place and social distancing measures prompted people to stay inside and spend more time on digital entertainment. Zynga has been one of the category's best performers, posting gains that outstripped industry competitors including Activision Blizzard, Electronic Arts, Take-Two Interactive, and Glu Mobile.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) today announced that it plans to report financial results for the first quarter of its fiscal year 2021, ended June 30, 2020, after the market close on Monday, August 3, 2020. The Company plans to hold a conference call to discuss its results at 4:30 p.m. Eastern Time, which can be accessed by dialing (877) 407-0984 or (201) 689-8577. A live, listen-only webcast and a replay of the call will be available at http://ir.take2games.com/.
One of the most anticipated openings of the year, Bugsy & Meyer's Steakhouse at Flamingo Las Vegas is now open. The $10 million destination steakhouse embraces the resort's nearly 75-year history, while presenting it in an elevated, modern way.
New York, New York--(Newsfile Corp. - July 7, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Cheetah Mobile, Inc. ("Cheetah Mobile" or the "Company")(NYSE:CMCM) of the August 24, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.If you invested in Cheetah Mobile stock or options between March 25, 2019 and February 20, 2020 and ...
International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company's video gaming terminals ("VGTs"), CrystalDual® 27 and CrystalSlant™, received approval from the Pennsylvania Gaming Control Board to be added in qualified truck stop locations throughout the State. This approval positions IGT to build on its long-established gaming presence in Pennsylvania that encompasses slots and video poker games, casino management systems, iGaming, sports betting and the video gaming central system.
New coronavirus cases continue to surge Monday, with the U.S. re-emerging as a global hot spot, while Wall Street continues to defy the dangers after President Donald Trump over the weekend played down the threat of COVID-19.
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cheetah Mobile Inc. ("Cheetah" or the "Company") (NYSE: CMCM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Cheetah securities between March 25, 2019 and February 20, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/cmcm.
Churchill Downs Inc. said Monday that it has temporarily suspended operations at Calder Casino in Miami as of July 3, less than a month after it was opened. The racing and gaming company said the suspension comes after an emergency order was issued by Miami Mayor Carlos Gimenez to close entertainment venues in an reaction to a rise in COVID-19 cases. New cases in Florida spiked up to 10,352 on July 3, a daily record for the state, according to data provided by Johns Hopkins University. Churchill Downs said it will work with Miami-Date county and state officials to reopen Calder "as soon as it is appropriate to do so." The company had reopened Calder Casino on June 12, after temporarily suspending operations on March 16, as a result of the COVID-19 pandemic. Shares of Churchill Downs rose 2.4% in morning trading. They have slipped 1.4% year to date, while the S&P 500 has lost 1.8%.
LOUISVILLE, Ky., July 06, 2020 -- Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) announced the temporary suspension of operations at Calder Casino (“Calder”) in Miami.
International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it successfully launched its next-generation bartop hardware, the PeakBarTop™ cabinet. Guests of Cache Creek Casino Resort in Brooks, Calif., Morongo Casino Resort & Spa in Cabazon, Calif., San Manuel Casino in Highland, Calif. and Golden Nugget Hotel & Casino in Las Vegas, Nev. can be among the first players in the world to experience IGT's much-anticipated PeakBarTop cabinet and its legendary content library.
European stocks rose on Monday, as signs of economic progress offset worries about growing coronavirus cases in the U.S. as well as India.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
Shares of Youdao (NYSE: DAO) gained 66.9% in June, according to data from S&P Global Market Intelligence. NetEase issued new common stock and also had its public debut on the SEHK on June 11, and its valuation climbed roughly 8.4% last month. Youdao posted much bigger gains than NetEase, but its stock movement trends tracked closely in line with those of its parent company.