Today’s Research Reports on Stocks to Watch: Activision Blizzard and Electronic Arts
Gaming stocks Activision and Electronic Arts were both in the red on Thursday. While Electronic Arts didn’t have any news, Activision announced that its Call of Duty: Black Ops 4 game had sales of more than $500 million worldwide in its first three days on the market.
RDI Initiates Coverage on:
Activision Blizzard, Inc.
Electronic Arts Inc.
Activision Blizzard, Inc. shares closed down 8.29% on about 20 million shares traded yesterday. The company’s Call of Duty: Black Ops 4 had sales of more than $500 million worldwide in its first three days on the market according to an announcement from the company on Thursday. "Black Ops 4 is off to a blockbuster start," said Activision executive vice president and Call of Duty GM Rob Kostich. "Our player counts and hours played are up year over year, our viewership on Twitch has set new standards and is showing just how fun Blackout is to play and to watch, and the weekend results yet again put Call of Duty at that highest tier of entertainment. Our digital sales results have been record-breaking across all platforms, and the overall performance strong." Blomberg Intelligence’s Matthew Kanterman was impressed however and called the results “slow." He did also say though, "We aren’t worried about lower-than-predicted opening weekend sales of Activision’s Call of Duty amid strong digital sales and high engagement.”
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Electronic Arts Inc. shares were down 2.75% yesterday on about 4 million shares traded. There was no particular news from the company to explain the losses. Recently Electronic Arts announced that The Sims 4 Get Famous expansion pack will be launched on PC and Mac on Nov 16. EA has also partnered with “musician and social media star Baby Ariel” to create her Sim version. Users can catch the star performing in the glam city, Del Sol Valley and public spaces. Notably, The Sims 4 Seasons expansion pack was launched on PC and Mac on Jun 22. The company will be releasing its financial results for the second fiscal quarter ended September 30, 2018 after the close of market on Tuesday, October 30, 2018.
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Our Actionable Research on Activision Blizzard, Inc. (NASDAQ: ATVI) and Electronic Arts Inc. (NASDAQ: EA) can be downloaded free of charge at Research Driven Investing.
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