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Feb 10, 2011

Activision pulls plug on Guitar Hero music game

NEW YORK (Reuters) – Activision Blizzard said on Wednesday it would it would disband the unit that makes its Guitar Hero games, citing declining popularity for music-themed video games.

The company, whose first-quarter outlook was below Wall Street expectations, said it would disband its Guitar Hero business unit and stop development of the Guitar Hero game for 2011.

Feb 9, 2011

Activision pulls plug on Guitar Hero; shares down

NEW YORK (Reuters) – Activision Blizzard Inc’s first-quarter outlook missed Wall Street expectations and it said it would disband the unit that makes Guitar Hero music games, sending its shares down 8 percent.

The company forecast revenue of $640 million in the first quarter of 2011 and EPS of 7 cents per share, compared with the $734.70 million analysts were expecting on 10 cents per share for the quarter.

Feb 9, 2011

Take-Two profit easily beats Street, shares rise

NEW YORK, Feb 8 (Reuters) – Take-Two Interactive Software
Inc’s (TTWO.O: Quote, Profile, Research, Stock Buzz) reported a quarterly profit that significantly
exceeded Wall Street estimates, as its video game “NBA 2K11″
and content that consumers could download sold more than
expected.

Shares rose 3.6 percent in after-hours trading.

This is the first year in nearly a decade the company has
posted a profit without the release of a new version of its hit
franchise, “Grand Theft Auto.” Take-Two struggled with
financial and legal problems as recently as 2007, when current
Chief Executive Strauss Zelnick took over as chairman.

Feb 8, 2011

Take-Two’s third-quarter profit beats Street

NEW YORK (Reuters) – Take-Two Interactive Software Inc’s (TTWO.O: Quote, Profile, Research, Stock Buzz) third-quarter profit beat Wall Street expectations, driven by brisk sales of “NBA 2K11″ and digital content that consumers could download for hit games such as “Red Dead Redemption.”

Shares rose 4.5 percent in light after-hours trading.

It reported adjusted earnings per share of 52 cents, which far surpassed Wall Street average estimates of 34 cents, according to Thomson Reuters I/B/E/S.

Feb 4, 2011

Corning forecasts $10 billion in sales by 2014

NEW YORK (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) said it would boost sales by more than 50 percent by 2014, banking on the popularity of tablets and smartphones to increase demand for its glass, lifting shares by more than 1 percent.

In its display segment, which makes up the bulk of Corning’s profit, the company said on Friday touchscreen devices and liquid crystal display televisions would create demand for an extra 2 billion square feet of LCD glass in the next three years.

Feb 2, 2011

THQ lowers its outlook, shares fall

NEW YORK, Feb 2 (Reuters) – Video game publisher THQ Inc’s
(THQI.O: Quote, Profile, Research, Stock Buzz) revenue fell in the third quarter and the maker of
“WWE SmackDown vs Raw” and “Saints Row” issued a
weaker-than-expected earnings forecast, sending shares down
more than 12 percent.

THQ lowered its earnings outlook for its current, fiscal
fourth quarter to a range of 5 to 15 cents, compared with the
30 to 38 cents that analysts were expecting. The company’s
previous earnings forecast was 35 to 45 cents.

Feb 1, 2011

EA raises outlook as shares up on buyback

NEW YORK (Reuters) – Video game publisher Electronic Arts Inc’s announced a surprise $600 million share buyback plan and raised the midpoint of its earnings forecast for 2011, sending its shares up more than 8 percent on Tuesday.

Earnings per share is now expected to be 60 cents to 70 cents, compared to analysts’ average estimates of 63 cents, according to Thomson-Reuters I/B/E/S. Its previous estimate was for earnings of 50 cents to 70 cents.

Feb 1, 2011

Lexmark’s beats Street on profit, shares soar

NEW YORK, Feb 1 (Reuters) – Lexmark International Inc’s
(LXK.N: Quote, Profile, Research, Stock Buzz) fourth-quarter profit trounced Wall Street expectations
helped by strong sales of laser printers, sending shares up
more than 6 percent in premarket trading on Tuesday.

The company posted a quarterly profit of $87.6 million, or
$1.10 per share, compared with a profit of $59.8 million, or 76
cents per share a year earlier.

Jan 27, 2011

Motorola Solutions’ forecast disappoints, shares fall

NEW YORK (Reuters) – Motorola Solutions Inc (MSI.N: Quote, Profile, Research, Stock Buzz) forecast a weaker first quarter than Wall Street expected because of higher-than-anticipated expenses, sending its shares lower on Thursday.

In its first quarterly report as an independent company, the supplier of walkie-talkies and other wireless devices to companies and government agencies forecast sales growth of 3 percent to 4 percent in the first quarter of 2011. It said earnings from continuing operations would be 29 cents a share to 34 cents a share.

Jan 27, 2011

Motorola Solutions’ sales rise

NEW YORK (Reuters) – Motorola Solutions Inc (MSI.N: Quote, Profile, Research, Stock Buzz) posted a 13 percent increase in quarterly revenue as demand for its wireless equipment rose because corporations loosened their purse strings as the economy improved.

In its first quarterly report as an independent company, the supplier of wireless gadgets like walkie-talkies to government agencies and corporate clients, Motorola Solutions’ revenue rose to $2.246 billion from $1.983 billion in the year- ago quarter if it had been a stand-alone company.