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August 1, 2021

Video Games

Tencent says it’s buying UK video game developer Sumo Group, sending shares flying

CNBC
CNBC – For more and to sign up click here Tencent logo seen displayed on a smartphone. Omar Marques | SOPA Images.| LightRocket | Getty Images LONDON — Tencent said Monday it has agreed to acquire British video game developer Sumo Group for £919 million ($1.26 billion). The Chinese gaming......

GameStop names former Amazon execs Matt Furlong, Mike Recupero as its new CEO, CFO

CNBC
CNBC – For more and to sign up click here A man looks at GameStop at 6th Avenue on February 25, 2021 in New York. John Smith | Corbis News | Getty Images GameStop said Wednesday that it has appointed former Amazon executive Matt Furlong as its new CEO. It......

People in the Philippines are earning cryptocurrency during the pandemic by playing a video game

CNBC
CNBC – For more and to sign up click here As the Covid-19 pandemic hit the Philippines, people in Cabanatuan City north of Manila have found a unique way to ease the hardship brought on by lockdowns — playing video games. The gameplay, however, isn’t just for fun. Axie Infinity,......

Sony launches PlayStation 5 console in China ahead of Microsoft’s Xbox

CNBC
CNBC – For more and to sign up click here In this photo illustration a PlayStation 5 logo seen displayed on a smartphone. Mateusz Slodkowski | SOPA Images | LightRocket via Getty Images GUANGZHOU, China — Sony officially launched its PlayStation 5 console in China on Thursday. The disc version......

Here’s one trader’s strategy for newly public game app Roblox

CNBC
CNBC – For more and to sign up click here As kids game app Roblox finds its footing in the public market, it could be ripe for a trade, TradingAnalysis.com’s Todd Gordon says. Shares of the company surged nearly 6% on Thursday. The stock has been climbing since Roblox announced......

GameStop shares jump after company says it plans to name Ryan Cohen chairman

CNBC
CNBC – For more and to sign up click here Pedestrians pass a GameStop store on 14th Street at Union Square, Thursday, Jan. 28, 2021, in the Manhattan borough of New York. John Minchillo | AP GameStop announced Thursday that the Chewy co-founder Ryan Cohen will become its chairman following......

Discord messaging platform launches Clubhouse-style feature

Reuters
NEW YORK (Reuters) – Messaging platform Discord Inc on Wednesday launched a new feature for people to hold live audio events for audiences, similar to the rapidly growing app Clubhouse. Discord, which offers voice, video and text chat, was popularized by videogamers and has spread to other groups since its......

GameStop hires Amazon executive as chief growth officer in e-commerce shift

Reuters
FILE PHOTO: A GameStop store is pictured in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File Photo/File Photo/File Photo (Reuters) – GameStop Corp said on Tuesday it named Amazon.com Inc executive Elliott Wilke as chief growth officer, the latest top level appointment after......

Blizzard fires 50 employees in live events as pandemic roils business

Reuters
(Reuters) – Activision Blizzard Inc unit Blizzard has fired about 50 workers engaged in running live events, a company spokesman said on Tuesday, as the COVID-19 pandemic clamped down on gatherings. Video game developers and entertainment firms typically host numerous live events every year that attract thousands. Over the last......

‘Share-plunge’ GameStop traders serve valuable function

NYPost
Charles Gasparino It feels wrong to hope that a company goes out of business and its stock craters to zero, which is why short sellers — the traders who make money when stocks tank — are treated with disdain in many corners of Wall Street and now increasingly in Washington.......

Epic Games takes Apple fight to EU antitrust regulators

Reuters
BRUSSELS (Reuters) – Fortnite creator Epic Games has taken its fight against Apple to EU antitrust regulators after failing to make headway in a U.S. court in a dispute over the iPhone maker’s payment system on its App Store and control over apps downloads. The two companies have been locked......

Take-Two hikes sales forecast on lockdown-led videogame boost

Reuters
(Reuters) – Take-Two Interactive Software Inc on Monday raised annual adjusted sales targets on sustained demand for its top franchises, “NBA 2K” and “Grand Theft Auto”, as COVID-19 curbs continue to boost videogame sales worldwide. The company lifted its full-year adjusted revenue forecast to a range of $3.37 billion to......

Activision Blizzard’s annual sales forecast tops estimates on ‘Call of Duty’ boost

Reuters
FILE PHOTO: The entrance to the Activision Blizzard Inc. campus is shown in Irvine, California, U.S., August 6, 2019. REUTERS/Mike Blake (Reuters) – Activision Blizzard Inc on Thursday forecast full-year adjusted revenue above analysts’ estimates, driven by strong demand for the latest installment of its blockbuster “Call of Duty” franchise......

Sony hikes profit forecast after selling 4.5 million PS5 consoles in the holiday quarter

CNBC
CNBC – For more and to sign up click here In this photo illustration a PlayStation 5 logo seen displayed on a smartphone. Mateusz Slodkowski | SOPA Images | LightRocket via Getty Images LONDON — Sony hiked its full-year profit and sales forecasts Wednesday, as the Japanese tech giant said......

EA hikes annual sales outlook as lockdown boost for videogames continues

Reuters
FILE PHOTO: An Electronic Arts office building is shown in Los Angeles, California, U.S., July 27, 2020. REUTERS/Mike Blake (Reuters) – Electronic Arts Inc on Tuesday raised its annual sales outlook, betting on strong sales of its sports titles including “FIFA 21” and “Madden NFL 21” as more people turn......

Robinhood CEO says limited trade to protect firm and customers

Reuters
FILE PHOTO: Vlad Tenev, co-founder and co-CEO of investing app Robinhood, speaks during the TechCrunch Disrupt event in Brooklyn borough of New York, U.S., May 10, 2016. REUTERS/Brendan McDermid SINGAPORE (Reuters) – Online broker Robinhood restricted trade in about 13 highly volatile stocks such as GameStop and AMC Entertainment to......

Robinhood CEO says limited trade to protect firm and customers

Reuters
SINGAPORE, Jan 29 (Reuters) – The chief executive of brokerage app Robinhood said he made a “difficult decision” to restrict buying in more than a dozen volatile stocks, including GameStop and AMC Entertainment, to protect the company and its customers. “We absolutely did not do this at the direction of......

U.S. panel to hold hearing on GameStop, other social-media driven stock trading

Reuters
FILE PHOTO: House Financial Services Committee Chairwoman Maxine Waters (D-CA) attends a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, U.S., December 2, 2020. Greg Nash/Pool via REUTERS WASHINGTON (Reuters) – U.S. House Financial......

Incoming U.S Senate Banking chairman plans hearing on stock market

Reuters
FILE PHOTO: Senator Sherrod Brown (D-OH) rides the U.S. Capitol subway in Washington, U.S., February 4, 2020. REUTERS/Erin Scott WASHINGTON (Reuters) – Incoming Senate Banking Committee Chairman Sherrod Brown said on Thursday that he plans to hold a hearing on the current state of the U.S. stock market. “People on......

At odds over many things, U.S. lawmakers AOC and Ted Cruz agree on Robinhood probe

Reuters
WASHINGTON (Reuters) – At odds over most issues, Democrat Alexandria Ocasio-Cortez and Republican Ted Cruz agreed on Thursday that Congress needed more information about online trading platform Robinhood Markets Inc’s decision to restrict retail trading in shares of GameStop and other stocks that have experienced dramatic gains this week attributed......

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