Stock Report: March 17 - 20
Interest rate cut helps game stocks
The US markets closed early this week in recognition of Good Friday, but not before stocks posted a gain following another interest rate cut by the Federal Reserve and securities firms earnings that beat estimates.
The S&P 500 ended the week at 1,329.51. The Dow Jones industrial average rose to 12,361.32, with the Nasdaq index closing at 2,258.11.
In the videogame industry, there were no earnings reports released this week from the major publishers. Midway announced that it was looking for a new CEO, but the news had no immediate effect on the company's stock price.
EA's hostile takeover bid for Take-Two remained unresolved, with no significant movement in the stock value of either company.
Meanwhile, a Japanese securities firm lowered Nintendo's stock investment rating from "buy" to "hold", and cut its price target by 30 per cent amid fears that demand was slowing, but again there was no significant impact on the company's stock.
Selected stock movements in the past week (at time of writing):
| Namco Bandai | 13.12 - 14.27 | +8.06% |
|---|---|---|
| THQ | 18.93 - 20.25 | +6.52% |
| Microsoft | 27.96 - 29.18 | +4.18% |
| EA | 46.91 - 48.46 | +3.20% |
| Sega | 10.54 - 10.71 | +1.59% |
| Konami | 37.6 - 37.92 | +0.84% |
| Take-Two | 25.29 - 25.47 | +0.71% |
| Sony | 41.86 - 41.9 | -0.10% |
| Nintendo | 522.91 - 521 | -0.37% |
| Midway | 2.02 - 2.01 | -0.50% |
| Activision | 26.94 - 26.55 | -1.47% |
| SCi | 39.5 - 37 | -6.76 % |
| Infogrames | 11.96 - 10.95 | -9.22% |
| Ubisoft | 54.40 - 49.07 | -10.86% |
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.