Stock Report: Jan 4 - Jan 11
The US stock market continued its decline last week, with the Dow dropping some 250 points on Middle East tensions, high oil prices, and continued fallout from the sub-prime mortgage debacle.
While the market reacted positively to the news that Bank of America will purchase Countrywide Financial, that was quickly overshadowed by news that Merrill Lynch could take as much as a USD 15 billion hit writing off or adjusting sub-prime mortgages.
Merrill Lynch, Citigroup, and JP Morgan Chase & Co are expected to announce financials next week.
The biggest news in the games industry was the dramatic fall of SCi's stock - a decline of more than 60 per cent from last week's value - after the company announced that it had ended takeover talks after no formal buyout offers were received within the timeframe requested.
Midway, who was mentioned as a potential suitor last week, was one of the few companies to see its stock price increase.
Selected stock movements in the past week (at time of writing):
| Midway | 2.31 - 2.47 | +6.9% |
|---|---|---|
| Sony | 52.42 - 55.84 | +6.5% |
| THQ | 25.69 - 25.40 | -1.1% |
| Microsoft | 34.38 - 33.91 | -1.4% |
| Activision | 27.84 - 27.14 | -2.5% |
| Nintendo | 615.74 - 600.00 | -2.6% |
| EA | 54.51 - 52.86 | -3.0% |
| Take-Two | 17.39 - 16.36 | -5.9% |
| Konami | 32.47 - 29.52 | -9.1% |
| Sega | 14.00 - 12.25 | -12.5% |
| Ubisoft | 64.39 - 53.28 | -17.3% |
| SCi | 185.00 - 62.00 | -66.5% |
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.