Stock Market: April 14 - 18
The US stock market rallied this week on better-than-expected earnings reports and high oil prices
The US stock market posted the biggest weekly gain in almost three months after oil prices reached new highs and companies such as Intel and Google reported earnings that were better than expected.
The S&P 500 was up 4.3 per cent to 1,390.33. The Dow Jones Industrial Average also increased 4.3 percent to 12,849.36. NASDAQ finished the week at 2,402.97.
The deadline for Take-Two to accept EA's takeover bid expired this past Friday - the day after Take-Two shareholders re-elected the current board of directors and voted to increase shares awarded under the company's incentive plan.
As a result of this action, EA dropped its bidding price to USD 25.74 per share but extended the offer to May 16. Take-Two dismissed the new offer and indicated that it would consider talks with interested parties on April 30, after the launch of GTA IV.
In other games industry news, the Financial Times reported that SCi was in talks with both Time Warner and with NBC Universal about becoming a significant minority shareholder in the company.
Selected stock movements in the past week (at time of writing):
| Sega | 11.30 - 12.43 | +10% |
|---|---|---|
| Sony | 40.76 - 43.58 | +6.92% |
| Microsoft | 28.28 - 30 | +6.08% |
| Ubisoft | 58.15 - 60.24 | +3.59% |
| EA | 50.21 - 52.01 | +3.58% |
| SCi | 60.25 - 62.25 | +3.32% |
| Take-Two | 25.39 - 25.98 | +2.32% |
| Midway | 2.65 - 2.71 | +2.26% |
| THQ | 21.01 - 21.36 | +1.67% |
| Activision | 27.10 - 27.49 | +1.44% |
| Namco Bandai | 13.83 - 13.60 | -1.66% |
| Nintendo | 550 - 528.23 | -3.96% |
| Konami | 40.68 - 38.86 | -4.47% |
| Infogrames | 12.79 - 12.10 | -5.39% |
Please note that stock prices on differing markets may be influenced by separate local events, and shouldn't necessarily be compared like for like. This list is not a ranking of total market valuation; selected stocks only. Prices given in local exchange currency, except Tokyo stocks, which are converted into USD.