EA stock reaches 52-week high
The US stock market appears to have responded favorably to EA's acquisition news, with the company's stock trading at a one year high
The US stock market appears to have responded favorably to EA's acquisition news, with the company's stock trading at a one year high.
Yesterday, EA announced plans to acquire developers BioWare and Pandemic Studios in a deal valued at USD 860 million.
Although the acquisition is expected to come at a price, diluting the company's earnings per share and not breaking even until fiscal 2009, EA's stock has nevertheless rose nearly 5 per cent in today's trading.
As of this writing, the stock is up 2.50 at USD 61.22 per share. By comparison, Microsoft's stock is currently trading at USD 30.27 per share, up 1.2 per cent.
The 52-week range for the stock (symbol ERTS) was USD 46.27 to USD 60.35.