Stocks

Big Take-Two Shareholders Bailing Out

Two of Take-Two Interactive's biggest investors, Oppenheimer Funds and FMR LLC, drastically cut their shares in the company, Reuters reports, a sign of "shareholder unrest" that could be bad news for company management. After a rejected buyout offer from EA was made public, it helped boost the Grand Theft Auto publisher's stock price nine points in one day, making for some assuredly pleased stockholders. But now that Take-Two management have claimed the buyout terms "undervalue" the company, shareholders may be unwilling to wait for a dip in their investment.

So what's the damage?

More »

9:40 PM on Mon Mar 10 2008
By Michael McWhertor
4,247 views, 67 comments

Latest by Noc: It could mean that a shareholder hold-out is off the table, and that the new shareholders could pressure T2 to accept EA's current offer. But it also means that their 2 largest shareholders aren't necessarily confident that the deal will more »

thq

THQ In The Clear

No legal action is recommended against publisher THQ, following an investigation by the United States Securities and Exchange Commission into some of their stock option practices. The investigation began back in August 2006, when the SEC requested all documents and materials pertaining to the practices, dating back to 1996. THQ was already in the process of conducting a voluntary internal review, and says that their independent investigation, which concluded January 2007, showed no evidence of fraud or misconduct. THQ was just one of 60 companies being investigated, including Activision and Take-Two.

SEC chooses not to recommend action against THQ [Gameindustry.biz]

10:00 AM on Thu Feb 28 2008
By torif
660 views, 11 comments

Latest by skrame ☆: @sloner: @Witzbold: Thanks. I've heard of Warhammer, but not Dawn of War. more »

ea take-two

Take-Two Stock Jumps 47% In Wake Of EA Proposal

On Friday, shares of Take-Two Interactive Software (TTWO) were trading for $17.36 a share as of market closing. Then over the weekend EA made its bid for Take-Two public, releasing details of a proposed buyout at $26 a share to various news outlets including Kotaku, even going as far as to open a website dedicated to their proposal. Well surprise, surprise, this morning TTWO opened at $25.75 a share - 47% above the last closing. Shares are going fast too, with massive chunks being sold off at a time. Over the past 3 months the average trade volume for the stock has been around 1.8 million a day. As of this writing, 12.5 million shares have already changed hands. So what does this mean? Stockholders believe this buyout will happen. So do arbitrageurs - companies that buy up huge amounts of stock for the chance at making small yet high volume profits. In other words, these companies believe so strongly that the $26 a share offer will go through that they are willing to buy up huge amounts for the chance at making $.25 profit a share. I dunno folks, this looks like it could very well happen. Hold me.

Take-Two Interactive on Yahoo Finance [Yahoo]

8:40 AM on Mon Feb 25 2008
By Mike Fahey
2,889 views, 63 comments

Latest by tmanflys: up 54.9% as of now more »

oops

SEC May Be Filing Charges Against Take-Two?

The Securities and Exchange Commission is thinking of filing charges against Take-Two Interactive in connection to the company's stock option practices. The former CEO and chairman of Take-Two pled guilty in February to "first-degree falsification of business records" for backdating stock options in an illegal manner and was ordered to pay a restitution of $7.2 million; in July, two more senior executives pled guilty in connection with the same stock options shenanigans. Take-Two received a "Wells" call from the SEC's enforcement division, notifying them the division will be asking the Commission to file charges. Whoops. More »

5:00 PM on Sat Aug 18 2007
By Maggie Greene
2,137 views, 35 comments

Latest by keithx4: Sounds familiar. If Take-two is punished for this, then Apple is the Paris Hilton of the stock market. more »

juicy!

Robbie Bach Actually Unloaded $9.2 Million in Microsoft Stock

Previously, we reported that Microsoft's Robbie Bach unloaded $6.2 million in company stock between May 2 and May 30th (right before the July 5th announcement of Xbox 360's warranty extension). That number was and is still completely accurate. More »

10:40 AM on Tue Aug 14 2007
By Mark Wilson
6,137 views, 58 comments

money money money

Don't Put Your Money In Video Game Stocks Quite Yet

For the gamers who also have an eye on their portfolio, investing in gaming-related stocks is probably not the best gamble right now. Long term prognosis is good, but CNN Money reports on an analyst's thoughts on 'interactive entertainment' industry right now, and it's probably not the best option to beef up your portfolio. An exception is for some companies like EA, but in case you needed to be told, don't put any money in Take-Two. More »

2:00 PM on Sun Jul 8 2007
By Maggie Greene
3,271 views, 38 comments

Latest by godot: @ Maggie Greene "...don't put money in Take-Two." On the day you said that, Take-Two closed at $20.68.A month later they're down to $13.59. Well spotted Maggie Greene! more »

china

China Starts New Exchange for Game Industry and Others

Along with animation and cartoon assets, the Chinese government is trying to give the game industry a boost by launching asset trading on the Shanghai United Assets and Equity Exchange (SUAEE) (in partnership with China's National Center for Animation, Cartoon and Game Industry). Things kicked off on Thursday, 28 June with thirty items were listed, mostly animated and folklore properties (perhaps some of the classic cartoon versions of 西遊記 Journey to the West?) More »

1:30 PM on Sat Jun 30 2007
By Maggie Greene
923 views, 4 comments

infinium

Phantom Pump & Dump

One of the things we never expected to see from Infinium Labs is shady business practices. More »

2:40 PM on Wed May 17 2006
By brownlee
248 views, 8 comments

take-two interactive

Grand Theft Auto Publisher Looking for Lifeline

Damn! Should have shorted Take-Two Interactive! More »

electronic arts

Video Game Stocks Good Investments?

Usually we don't write about the business aspects of the video game business. Bow-ring! But this time of year stories about investment opportunities in the new year can't be avoided. Normally, I wouldn't invest my own money in gaming stocks — most of them are dogs. But I've come across a bunch of stories in recent days that recommend some of the stronger companies in anticipation of the buying spree usually brought on by the introduction of a new generation of consoles. More »

8:54 AM on Wed Dec 28 2005
By kourosh
486 views, 4 comments

Latest by the shipbuilder: "I believe Nintendo (NTDOY) is a privately traded stock." Nope. Publically listed on the Tokyo Exchange since 1983. Ticker is 7974 if you're in Tokyo or 7974 JP from your Bloomberg screen. http://quote.tse.or.jp/tse/quote.cgi?F=listing/EDetail1&MK... Nintendo's ADR makes it even easier for American investors more »

business

EA Misses Profit Targets

Reuters reports that EA will be "well below" estimates for the December quarter. EA Chief Exec Larry Probst told Reuters, "For the December quarter, it is likely the industry will be down double digits on a percentage basis." However, all of this gloom and doom financial talk shouldn't concern anyone too much. I think, if nothing else, people are being careful with their cash and waiting to see what the next generation of consoles is going to offer us. But, if PS3 ships next holiday season (as people expect) - we'll probably see more shortages and overall sales could still be low. More »

8:00 AM on Wed Dec 21 2005
By lsmith
29 views, 3 comments

Latest by Ravidrath: Historically, EA has been a bellweather for the industry as a whole, but hopefully we're starting to see that change? While the industry overall hasn't done as well this year, it sounds like EA has done worse than the industry more »

Kotaku

Another Mario Sonic Collaboration in the Works?

Gawker Media Network