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NTDOY

Nintendo

$0.00

(0.00%)

, EA

Electronic Arts

$145.02

0.34 (0.24%)

12:31
07/10/18
07/10
12:31
07/10/18
12:31

Game On: Nintendo aims to launch 20-30 indie Switch games per week

Welcome to "Game On," The Fly's weekly recap of the stories powering up or beating down video game stocks. NEW RELEASES: This week's major video game release is Japanese role-playing game "Octopath Traveler," which is published by Nintendo (NTDOY) and developed by Square Enix. The game launches exclusively for Nintendo Switch consoles on July 13. Also out this week is Nintendo's "Captain Toad: Treasure Tracker," a port of a puzzle game that originally launched on Wii U in 2014. The game also rolls out on July 13 for Switch and Nintendo 3DS consoles. NINTENDO INDIES: IGN reported that Nintendo managing executive Shinya Takahashi said at the company's annual general shareholder's meeting that the company aims to release 20-30 independent games on its Switch console each week. Takahashi said that Nintendo is "actively engaging with indie developers" and is looking to release "around 20 to 30 indie games" per week on the Switch, according to IGN. CLSA UPGRADES NINTENDO: Meanwhile, CLSA analyst Rold Edelman upgraded Nintendo yesterday to Buy from Outperform while lowering his price target on the shares to JPY44,000 from JPY54,000. While Edelman reduced his estimates to reflect a slowdown in sales momentum for the Switch, he said that current valuation levels have not been seen "since the dark days for Nintendo." The analyst noted that the game maker's first-party title releases in each of the last three months of the year should improve momentum and drive a rerating in the shares. EA BUYS INDUSTRIAL TOYS: Last night, Electronic Arts (EA) announced that it acquired Industrial Toys, a "creative team of experienced game makers based in Pasadena, California." Industrial Toys is led by Alex Seropian, a founder and former CEO of Bungie Studios, which is known for Microsoft's (MSFT) "Halo" series as well as Activision's (ATVI) "Destiny." Terms of the deal were not disclosed.

NTDOY

Nintendo

$0.00

(0.00%)

EA

Electronic Arts

$145.02

0.34 (0.24%)

MSFT

Microsoft

$102.30

0.4 (0.39%)

ATVI

Activision Blizzard

$76.58

-0.26 (-0.34%)

  • 19

    Jul

  • 26

    Jul

  • 08

    Aug

  • 04

    Sep

NTDOY Nintendo
$0.00

(0.00%)

04/20/18
PIPR
04/20/18
NO CHANGE
PIPR
March NPD video game software sales fell 25%, says Piper Jaffray
March NPD video game software sales declined 25% year-over-year due to a tough compare with the launch of Nintendo's (NTDOY) Switch console a year ago and its highly successful launch title, The Legend of Zelda, Piper Jaffray analyst Michael Olson tells investors in a research note. The top two titles in the month were Ubisoft's Far Cry 5 and Sony's (SNE) MLB: The Show, but combined, the two generated less revenue than last year's Zelda, Olson adds. He views this month's data as less relevant given the absence of a major launch from Activision Blizzard (ATVI), Electronic Arts (EA) or Take-Two (TTWO). However, Olson thinks the March NPD data is most positive for Activision and least favorable for EA, which he says faced difficult compares to the launch of Mass Affect: Andromeda the prior year. The analyst keeps Overweight ratings on Activision, EA and Take-Two.
07/09/18
LYON
07/09/18
UPGRADE
LYON
Buy
Nintendo upgraded to Buy from Outperform at CLSA
CLSA analyst Rolf Edelman upgraded Nintendo to Buy while lowering his price target for the shares to 44,000 yen from 54,000 yen. While the analyst reduced his estimates to reflect a slowdown in sales momentum for Switch, he says current valuation levels have not been seen "since the dark days for Nintendo." The company's first-party title releases in each of the last three months of the year should improve momentum and drive a rerating in the shares, Edelman tells investors in a research note.
06/20/18
PIPR
06/20/18
NO CHANGE
PIPR
May NPD video game software sales rose 15%, says Piper Jaffray
May NPD video game software sales were up 15% year-over-year, driven by Sony (SNE) and Nintendo (NTDOY) launches of first-party titles, Piper Jaffray analyst Michael Olson tells investors in a research note. The analyst views May NPD data as less relevant for publishers since there were no major launches from Activision Blizzard (ATVI), Electronic Arts (EA) or Take-Two (TTWO). He maintains Overweight ratings on all three names.
06/14/18
BOFA
06/14/18
NO CHANGE
BOFA
New Nintendo games could accelerate demand for Nvidia GPUs, says BofA/Merrill
BofA Merrill Lynch analyst Vivek Arya said Nintendo's (NTDOY) unveiling of potentially "platform-defining titles" at the E3 show could drive more sustained demand for the Switch and could accelerate demand for Nvidia (NVDA) GPUs in 2019. Arya also noted that Nvidia's CEO created controversy at Computex last week, but the analyst thinks his comment about next-gen game cards being "a long time away" was misinterpreted. Arya thinks the next-gen Volta/Turing game cards are still on track for release in the second half of 2018, he tells investors.
EA Electronic Arts
$145.02

0.34 (0.24%)

06/22/18
NEED
06/22/18
NO CHANGE
Target $170
NEED
Buy
Electronic Arts price target raised to $170 from $135 at Needham
Needham analyst Laura Martin raised her price target on Electronic Arts to $170 and kept her Buy rating, citing the company's ongoing efforts in driving subscription revenues. Martin estimates those sales to reach about $240M in FY19 amid the prevailing trend among millenials to rent content rather than own it, adding that the model also reduces revenue volatility from game-makers' "hit" titles. The analyst also raised her FY19 EPS forecast to $5.00 from $4.85.
06/25/18
PIPR
06/25/18
NO CHANGE
PIPR
Overweight
Video game revenue could be ~100% digital by 2022, says Piper Jaffray
Piper Jaffray analyst Michael Olson told investors in a research note that by 2022 there is a high likelihood that ~100% of video game revenue will be digital, adding that publisher margins could be dramatically higher if this is the case. Based on the implied share prices resulting from his 100% digital calendar year 2022 EPS scenario, Olson believes this would be a tailwind for Activision (ATVI), EA (EA) and Take-Two (TTWO) and that the average 3-yr share price CAGR for the video game group would be 17%. Olson maintained an Overweight rating on Activision, EA and Take-Two.
06/28/18
UBSW
06/28/18
NO CHANGE
UBSW
Buy
Activision, Electronic Arts targets raised on 'Gaming-as-a-Service' shift at UBS
UBS analyst Eric Sheridan see the video game industry on the cusp of a transformation in its business model towards "Gaming-as-a-Service" along with streaming and subscriptions, which he views as supportive of sustainable revenue growth, margin expansion and more stable and predictable free cash flow. Though still in its early days as an industry, esports has exhibited "promising signs," added Sheridan, who raised his price target on Activision Blizzard (ATVI) to $88 from $76 and his target on Electronic Arts (EA) to $176 from $146. He maintains Buy ratings on both game maker's stocks.
MSFT Microsoft
$102.30

0.4 (0.39%)

06/13/18
UBSW
06/13/18
NO CHANGE
Target $114
UBSW
Buy
Microsoft trading at discount to peers, says UBS
UBS analyst Jennifer Swanson Lowe believes Microsoft's current price undervalues both the emerging Cloud story and the durable on-premise legacy businesses. The analyst said Microsoft content is taking center stage as it acquired four game studios and formed a fifth. She also believes the strength of the Azure platform can be a differentiator for the company. Lowe reiterated her Buy rating and $114 price target on Microsoft shares.
06/25/18
ATLE
06/25/18
UPGRADE
Target $125
ATLE
Overweight
Microsoft upgraded to Overweight on long-term growth at Atlantic Equities
Atlantic Equities analyst James Cordwell assumed coverage on Microsoft with an Overweight rating, from a Neutral rating, and a $125 price target. Cordwell said Microsoft has successfully managed the cloud transition, while expanding its addressable market, and should now be a primary beneficiary of enterprises undertake digital transformations. The analyst expects Azure, the cloud platform, to drive 40% of Microsoft's incremental 2018-2021 gross profit , with Office 365 adding 35%, and the legacy server business remaining robust due to hybrid cloud deployments.
06/25/18
06/25/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. BorgWarner (BWA) upgraded to Buy from Neutral at Goldman Sachs with analyst David Tamberrino saying he believes the company will outperform supplier peers late in the North American auto cycle. 2. Norfolk Southern (NSC) upgraded to Buy from Neutral at Citi with analyst Christian Wetherbee stating that he sees solid upside to consensus estimates and the potential for multiple appreciation based on "sustainably better" free cash flow. 3. Quest Diagnostics (DGX) upgraded to Overweight from Equal Weight at Barclays with analyst Jack Meehan citing the company's "very favorable" risk-reward profile and current levels. 4. Ciena (CIEN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Meta Marshall saying recent meetings with management give her confidence that revenue momentum can persist at least for the next year. 5. Microsoft (MSFT) upgraded to Overweight from Neutral at Atlantic Equities with analyst James Cordwell stating the company has successfully managed the cloud transition, while expanding its addressable market, and should now be a primary beneficiary of enterprises undertaking digital transformations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/25/18
ATLE
06/25/18
UPGRADE
ATLE
Overweight
Microsoft upgraded to Overweight from Neutral at Atlantic Equities
ATVI Activision Blizzard
$76.58

-0.26 (-0.34%)

06/18/18
BNCH
06/18/18
NO CHANGE
BNCH
Buy
Benchmark raises price targets on 'big three' game makers after E3
After attending E3 and hosting private meetings with executives for the "big three" video game makers, Benchmark analyst Mike Hickey raised his target multiple on all three stocks by 20%, to 30x from 25x. Given the higher multiples, he raised his price target on Electronic Arts (EA) to $164 from $141, upped his target on Activision Blizzard to $93 from $80 and increased his target on Take Two Interactive (TTWO) to $156 from $135. Hickey maintains Buy ratings on all three video game makers' stocks.

TODAY'S FREE FLY STORIES

FNWB

First Northwest Bancorp

$16.11

0.36 (2.29%)

17:48
07/20/18
07/20
17:48
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17:48
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First Northwest Bancorp names Terry Anderson chief credit officer »

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FCX

Freeport McMoRan

$15.75

-0.05 (-0.32%)

17:42
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07/20
17:42
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17:42
Hot Stocks
Freeport McMoRan CAO Michael Arnold to retire »

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XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

, XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

17:39
07/20/18
07/20
17:39
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17:39
General news
Week ending ETF Scorecard: Financials lead, Energy slumps »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$74.87

-0.24 (-0.32%)

XLU

Utilities SPDR

$52.28

-0.39 (-0.74%)

IYR

DJ US Real Estate Index Fund

$80.23

-0.68 (-0.84%)

XLP

Consumer Staples Sector SPDR

$52.84

0.3 (0.57%)

XLY

Consumer Discretionary Sector SPDR

$112.15

-0.47 (-0.42%)

XLB

S&P Select Materials SPDR

$58.31

-0.21 (-0.36%)

XLF

Financial Select Sector

$27.57

0.065 (0.24%)

XLV

Health Care Select Sector SPDR

$86.74

-0.17 (-0.20%)

XLK

Technology Select Sector SPDR

$72.55

0.01 (0.01%)

XLI

Industrial Select Sector SPDR

$74.44

-0.09 (-0.12%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

SLV

iShares Silver Trust

$14.59

0.18 (1.25%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

UNG

United States Natural Gas Fund

$22.38

-0.06 (-0.27%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$85.62

0.03 (0.04%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$115.27

-0.335 (-0.29%)

TLT

iShares 20+ Year Treasury Bond Fund

$120.78

-1.46 (-1.19%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.21

-0.35 (-0.34%)

SHY

iShares 1-3 Year Treasury Bond

$83.26

-0.005 (-0.01%)

IWD

iShares Russell 1000 Value

$123.07

-0.2897 (-0.23%)

IWF

iShares Russell 1000 Growth

$149.41

-0.04 (-0.03%)

03/08/13
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03/06/13
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03/06/13
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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

17:25
07/20/18
07/20
17:25
07/20/18
17:25
Hot Stocks
Xerox, Centerview settle matters related to proposed Fuji tie-up »

On July 20, 2018, Xerox…

XRX

Xerox

$25.10

-0.095 (-0.38%)

FUJIY

Fujifilm

$0.00

(0.00%)

03/08/13
Wedge Partners
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  • 26

    Jul

STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

17:15
07/20/18
07/20
17:15
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17:15
Hot Stocks
Breaking Hot Stocks news story on StoneMor Partners »

Oaktree Capital reports…

03/08/13
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03/06/13
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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
07/20/18
07/20
17:11
07/20/18
17:11
Downgrade
Telefonica rating change at Goldman Sachs »

Telefonica downgraded to…

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

17:04
07/20/18
07/20
17:04
07/20/18
17:04
General news
Weekly CFTC Commitment of Traders highlights »

S&P500 net long 5.5K…

SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

03/08/13
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03/06/13
Citigroup
03/06/13
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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
07/20/18
07/20
17:02
07/20/18
17:02
Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

Citizens Community…

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

17:01
07/20/18
07/20
17:01
07/20/18
17:01
Hot Stocks
Breaking Hot Stocks news story on Parker Drilling »

Whitebox Advisors reports…

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  • 02

    Aug

RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

17:00
07/20/18
07/20
17:00
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17:00
Hot Stocks
Breaking Hot Stocks news story on ReShape Lifesciences  »

Intracoastal Capital…

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
07/20/18
07/20
16:57
07/20/18
16:57
Initiation
Box initiated at First Analysis »

Box initiated with an…

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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

16:53
07/20/18
07/20
16:53
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16:53
Syndicate
Breaking Syndicate news story on Aldeyra »

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GLRE

Greenlight Capital Re

$14.00

-0.15 (-1.06%)

16:46
07/20/18
07/20
16:46
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16:46
Hot Stocks
Greenlight Capital Re announces departure of COO »

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RVI

Retail Value

$34.56

0.2 (0.58%)

16:38
07/20/18
07/20
16:38
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16:38
Hot Stocks
Breaking Hot Stocks news story on Retail Value »

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

, ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

16:35
07/20/18
07/20
16:35
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16:35
Hot Stocks
Lincoln Electric expands board to 11 directors, appoints Patrick Goris to board »

Lincoln Electric (LECO)…

LECO

Lincoln Electric

$92.26

0.64 (0.70%)

ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

03/08/13
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  • 23

    Jul

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    Jul

KMX

CarMax

$77.15

-0.57 (-0.73%)

16:33
07/20/18
07/20
16:33
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16:33
Hot Stocks
CarMax chairman sells 37,500 common shares »

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LOW

Lowe's

$100.65

-0.74 (-0.73%)

16:31
07/20/18
07/20
16:31
07/20/18
16:31
Hot Stocks
Lowe's names Joseph McFarland as EVP of stores »

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16:30
07/20/18
07/20
16:30
07/20/18
16:30
Options
Preliminary option volume of 20.2M today »

Preliminary option volume…

PFE

Pfizer

$37.33

-0.03 (-0.08%)

16:26
07/20/18
07/20
16:26
07/20/18
16:26
Hot Stocks
FDA approves Pfizer's Biosimilar NIVESTYM for all indications »

Pfizer announced that the…

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  • 22

    Aug

  • 10

    Sep

JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

16:23
07/20/18
07/20
16:23
07/20/18
16:23
Hot Stocks
J.C. Penney chief customer officer McFarland to leave company »

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
07/20/18
07/20
16:20
07/20/18
16:20
Options
Closing CBOE SPX and VIX Index summary for July 20th »

The CBOE Volatility Index…

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ASFI

Asta Funding

$3.15

-0.1 (-3.08%)

16:18
07/20/18
07/20
16:18
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16:18
Hot Stocks
Asta Funding receives Nasdaq non-compliance letter »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
07/20/18
07/20
16:17
07/20/18
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/20/18
07/20
16:16
07/20/18
16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

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DIS

Disney

16:15
07/20/18
07/20
16:15
07/20/18
16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

Disney has fired James…

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  • 07

    Aug

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