Stock Report: January 7
The US stock market declined overall during the first week of 2008 based upon weaker than expected job growth and a 5 per cent rise in the unemployment rate.
Intel's stock was downgraded, which led to similar declines in other technology stocks such as Apple, Microsoft and Google. The games industry largely followed suit, with the exception of Nintendo.
Nintendo's stock rebounded from its recent decline between December 21 and December 28. For the week ended January 4, it was up 10 per cent.
Merger and acquisition rumours continue to surround SCi, with Midway becoming the latest potential suitor. Both companies stocks lost about USD 0.50 of value during the week - a significant drop for Midway, whose stock is trading at USD 2.31. Midway's chairman of the board resigned on December 21.
Selected stock movements last week:
| Nintendo | 559.50 - 615.74 | +10.1% |
|---|---|---|
| Sega | 13.82 - 14.00 | +1.3% |
| Konami | 32.25 - 32.47 | +0.7% |
| SCi | 185.50 - 185.00 | -0.3% |
| Sony | 54.30 - 52.42 | -3.5% |
| Ubisoft | 67.00 - 64.39 | -3.9% |
| Microsoft | 36.12 - 34.38 | -4.8% |
| Activision | 29.27 - 27.84 | -4.9% |
| Take-Two | 18.60 - 17.39 | -6.5% |
| EA | 58.56 - 54.51 | -6.9% |
| THQ | 28.27 - 25.69 | -9.1% |
| Midway | 2.78 - 2.31 | -16.9% |
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.