Stock Report: Jan 28 - Feb 1
Following the Federal Reserve's second interest rate cut in nine days, US stocks rose at a higher rate than they have in the past five years
Following the Federal Reserve's second interest rate cut in nine days, US stocks rose at a higher rate than they have in the past five years. 461 of the S&P 500 stocks posted gains, helping the index climb 4.9 per cent for the week.
In the gaming industry, EA posted a Q3 loss of USD 33 million, compared with net income of USD 160 million during the same period of the prior year. However, the company reported record revenue of USD 1.5 billion.
Analysts generally remained positive about the stock, despite EA's refusal to provide FY 2009 guidance.
Sony's game division reported profits of JPY 12.9 billion (USD 121 million) for the third quarter ended December 31, an improvement over the JPY 54.2 billion (USD 509 million) loss from the prior year. The company attributed the profit to lower PS3 production costs and strong PSP sales.
On Friday, Microsoft announced that it had made a USD 44.6 billion offer to buy Yahoo!, causing a slight decrease in its own stock value. Yahoo! has not given any indication whether or not they will accept the takeover offer.
Selected stock movements in the past week (at time of writing):
| Konami | 27.42 - 29.98 | +9.3% |
|---|---|---|
| Take-Two | 15.65 - 17.08 | +9.1% |
| Midway | 2.11 - 2.28 | +8.1% |
| EA | 47.22 - 48.62 | +3.0% |
| Ubisoft | 60.30 - 62.10 | +3.0% |
| Sega | 12.07 - 12.40 | +2.7% |
| THQ | 19.37 - 19.51 | +0.7% |
| Activision | 26.44 - 26.43 | -0.04% |
| Sony | 46.69 - 46.30 | -0.8% |
| Microsoft | 32.94 - 30.45 | -7.6% |
| Nintendo | 558.00 - 508.56 | -8.9% |
| SCi | 61.75 - 54.00 | -12.6% |
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.