Wedbush Morgan Securities analyst Michael Pachter has raised the firm's estimates for Activision, Electronic Arts, and THQ, following a 38 percent growth in September video game sales as reported by research firm NPD Group.
According to Pachter, major publisher and developer Activision had a "stronger than expected" quarter, despite generating sales of just $73 million, a 13 percent decline from the same period last year. The analyst has raised its revenue estimate for the company from $135 million to $145 million, noting that it believes that "the company's U.S. performance is representative of its worldwide performance." In addition, Wedbush also has maintained the company's Strong Buy rating and $18 target price. The stock is currently trading at $15.46.
Polygon writes: "Geoff Keighley’s annual game extravaganza returns for its 10th year. The Game Awards will stream live on Thursday, Dec. 7 at 7:30 p.m. EST/4:30 p.m. PST. The show will be broadcasted via YouTube, Twitch, Facebook, TikTok, X (formerly known as Twitter), Instagram, and Steam."
Fumihide Aoki, best known as the father of Waluigi, recently shared his anime-inspired artwork of Luigi's arch-rival doing the iconic Akira pose.
"The Game Music Foundation are today very proud and excited to announce the fifth edition of the universally acclaimed Game Music Festival has sold out in record time." - The Game Music Foundation.