Electronic Arts up on merger rumor
Shares of Electronic Arts Inc. rose 8.4 percent in heavy trading Monday as the stock caught up to the gains of other video-game makers, and rumors spread that it might be close to acquiring Ubisoft Entertainment SA of France.
From the end of April into June, as the video game makers reported earnings for the first three months of the year, the stocks of THQ Inc., Activision Inc., and Take-Two Interactive Software Inc. have made gains, noted Wedbush Morgan Securities analyst Michael Pachter.
Meanwhile, shares of Redwood City, Calif.-based Electronic Arts have stayed about the same, closing at $53.50 Friday from the $53.39 of April 29.
``I would say that what you are seeing today is a narrowing of the valuation gap,'' Pachter said. ``Momentum investors saw that Electronic Arts was lagging and forced it up,'' and short sellers got squeezed as well.
Shares of Electronic Arts rose $4.50 to close Monday at $58 on volume of 11.4 million, compared with average daily volume of 5.5 million on the Nasdaq Stock Market.
- Login or register to post comments
- Printer-friendly version
- 2874 reads
- PDF version
More in Tux Machines
- Highlights
- Front Page
- Latest Headlines
- Archive
- Recent comments
- All-Time Popular Stories
- Hot Topics
- New Members
digiKam 7.7.0 is releasedAfter three months of active maintenance and another bug triage, the digiKam team is proud to present version 7.7.0 of its open source digital photo manager. See below the list of most important features coming with this release. |
Dilution and Misuse of the "Linux" Brand
|
Samsung, Red Hat to Work on Linux Drivers for Future TechThe metaverse is expected to uproot system design as we know it, and Samsung is one of many hardware vendors re-imagining data center infrastructure in preparation for a parallel 3D world. Samsung is working on new memory technologies that provide faster bandwidth inside hardware for data to travel between CPUs, storage and other computing resources. The company also announced it was partnering with Red Hat to ensure these technologies have Linux compatibility. |
today's howtos
|
Recent comments
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago
1 year 11 weeks ago