Stock Report: Feb 4 - 8
The Dow, Nasdaq and S&P all ended the week down just over 4 per cent. The US market continues to evidence a "tug of war" between those worried about further fallout from the sub-prime mortgage situation and those who are taking advantage of reduced values.
Such uncertainty is likely to continue as recession fears have not eased. Next week, data for retail sales and industrial production from January will be released and the Chinese market - recently closed for the New Year holiday - might have a negative impact upon its reopening.
This week, Activision announced Q3 results this week, which were far less positive. The company lost JPY 15.77 billion (USD 210 million) for the quarter and downgraded its full year forecast to a net loss of JPY 26 billion (USD 242.1 million) where it had previously forecast a JPY 1 billion (USD 9.3 million) profit.
Although an official response has not yet been made, during the weekend Reuters reported that its sources indicate Yahoo! will reject the buyout offer made by Microsoft the prior week.
Selected stock movements in the past week (at time of writing):
| Konami | 29.98 - 31.23 | +4.2% |
|---|---|---|
| Ubisoft | 62.10 - 62.80 | +1.1% |
| Activision | 26.43 - 26.69 | +1.0% |
| THQ | 19.51 - 19.42 | -0.5% |
| SCi | 54.00 - 53.75 | -0.5% |
| Take-Two | 17.08 - 16.30 | -4.6% |
| Sega | 12.40 - 11.69 | -5.7% |
| Microsoft | 30.45 - 28.56 | -6.2% |
| Sony | 46.30 - 42.99 | -7.2% |
| Nintendo | 508.56 - 467.50 | -8.1% |
| EA | 48.62 - 44.57 | -8.3% |
| Midway | 2.28 - 2.02 | -11.4% |
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.