Stock Report: February 18 - 22
US stocks gained for a second week on record high oil prices and news of a plan to save credit ratings for bond insurers
US stocks gained for a second week on record high oil prices and news of a plan to save credit ratings for bond insurers. In the final hour of trading for the week, the Dow managed a 243-point turnaround.
The S&P 500 was up 0.2 percent to 1,353.11 for the week. The Dow Jones Industrial Average gained 0.3 percent to 12,381.02, while Nasdaq decreased 0.8 percent to 2,303.35.
Take-Two's stock showed the biggest gain among videogame companies this week, up nearly 10 per cent on takeover rumours which have been swirling around for weeks. Viacom dismissed rumours that it was a potential suitor, but Electronic Arts revealed over the weekend that it had offered to buy the company.
Both Take-Two and EA stock should reflect upon the offer - which Take-Two's Board of Directors rejected - during this upcoming week.
Toshiba's announcement that they are halting HD-DVD production - effectively conceding the HD format wars to Sony's Blu-ray - did not seem to impact the stocks of either Sony or Microsoft.
The decline of Sega's stock - which began after the company announced operating losses and layoffs two weeks ago - appears to have stabilised for the time being.
Selected stock movements in the past week (at time of writing):
| Take-Two | 15.83 - 17.36 | +9.67% |
|---|---|---|
| Nintendo | 517.00 - 545.00 | +5.42% |
| Sony | 44.78 - 46.77 | +4.44% |
| Konami | 30.73 - 31.88 | +3.74% |
| Sega | 9.45 - 9.65 | +2.12% |
| EA | 48.72 - 49.74 | +2.09% |
| Activision | 26.99 - 27.20 | +0.78% |
| Midway | 2.08 - 2.04 | -1.92% |
| Microsoft | 28.42 - 27.68 | -2.60% |
| THQ | 18.59 - 17.94 | -3.50% |
| Ubisoft | 62.44 - 60.00 | -3.91% |
| SCi | 53.75 - 43.25 | -19.53% |
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.