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GME

GameStop

$12.60

0.3 (2.44%)

12:49
11/21/18
11/21
12:49
11/21/18
12:49

GameStop to sell Spring Mobile unit to Prime Communications for $700M

GameStop (GME) announced that it has entered into a definitive agreement to sell its Spring Mobile business, which owns and operates 1,289 AT&T (T) wireless stores, to Prime Communications, L.P. for $700M, excluding transaction fees and subject to customary working capital and indebtedness adjustments. The transaction is expected to close in the fourth quarter of fiscal 2018, subject to customary regulatory approvals and closing conditions. As previously announced, GameStop's board of directors, together with outside financial advisors, is undertaking a comprehensive review of a wide range of strategic and financial alternatives to enhance shareholder value. In connection with its review, GameStop's board determined that the sale of Spring Mobile is in the best interest of the company and its shareholders, as the transaction generates immediate cash proceeds and enables the company to increase its focus on serving its customers' entertainment needs across video games and collectibles. Proceeds from the sale may be used to reduce the company's outstanding debt, fund share repurchases, reinvest in core video game and collectibles businesses to drive growth, or some combination of these options.

  • 29

    Nov

GME GameStop
$12.60

0.3 (2.44%)

09/10/18
LOOP
09/10/18
NO CHANGE
Target $16
LOOP
Hold
GameStop price target raised to $16 from $14 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on GameStop to $16 and kept his Hold rating. The analyst notes that while the latest worse-than-expected quarter offered no incremental positives fundamentally, his new price target reflects the increasing possibility that the company will be acquired. Chukumba adds that he is "somewhat encouraged" by the management's maintained FY18 guidance.
10/03/18
BOFA
10/03/18
NO CHANGE
Target $10
BOFA
Underperform
Walmart merchandise news negative for GameStop, says BofA/Merrill
BofA/Merrill analyst Curtis Nagle notes that Walmart (WMT) announced that it is rolling out a dedicated section of pop culture merchandise to over 3,500 stores starting the week of October 15th, which will include an exclusive relationship with Loot Crate and merchandise from Funko (FNKO), McFarlane Toys and CultureFly. This follows a successful partnership with Target (TGT) and Funko last Holiday, he adds. The analyst views this as a negative for GameStop (GME) given that collectibles are the only category that is consistently growing for the company. Furthermore, Nagle was already concerned over how much collectibles distribution could move into mass channels, as collectibles already show signs of deceleration. Nagle reiterates an Underperform rating and $10 price target on GameStop shares.
10/12/18
DADA
10/12/18
NO CHANGE
Target $38
DADA
Buy
Turtle Beach valuation now 'especially attractive', says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $38 price target on Turtle Beach (HEAR), saying the current valuation on the stock at 12.9-times free cash flow yield based on his expected 2020 forecasts makes the shares "especially attractive". The analyst notes that the company's Q3 pre-announcement affirmed his view of Turtle Beach being "incredibly well positioned to leverage the continued success of the battle royale gaming format", while commentary from Epic Games, NPD, and GameStop (GME) has also indicated that Fortnite demand remains very strong.
10/16/18
DADA
10/16/18
NO CHANGE
Target $58
DADA
Buy
DA Davidson recommends that investors buy Logitech ahead of earnings
DA Davidson analyst Tom Forte kept his Buy rating and $58 price target on Logitech ahead of its Q3 results next Monday, saying that he sees "multiple favorable data points indicating the continued strength of gaming accessories". The analyst recommends that investors purchase shares going into the company's earnings, as "recent data and comments from GameStop (GME), NPD, and Turtle Beach (HEAR) suggest continued robust demand for Fortnite gameplay "fueling further growth in headsets".

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LYFT

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DIS

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CMCSA

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FB

Facebook

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GOOGL

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TWTR

Twitter

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0.37 (1.13%)

GM

General Motors

$36.51

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AMD

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$26.43

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INTC

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$53.20

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MRVL

Marvell

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MCHP

Microchip

$85.50

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MU

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NVDA

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QCOM

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$56.71

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TXN

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21:30
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PLNT

Planet Fitness

$66.76

-0.825 (-1.22%)

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IRDM

Iridium

$26.40

-0.38 (-1.42%)

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DJX

Dow Jones Industrial Average

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, SPX

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$0.00

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Sen. Sanders calls on White House to make Mueller report public »

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IDTI

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, RNECY

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BA

Boeing

$362.49

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GLD

SPDR Gold Shares

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0.29 (0.23%)

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ONEXF

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DZSI

DASAN Zhone

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REPH

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  • 24

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DZSI

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$12.10

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  • 28

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DJX

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$0.00

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DJX

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SPY

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$279.37

-5.26 (-1.85%)

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CATS

Catasys

$13.19

-0.39 (-2.87%)

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USWS

U.S. Well Services

$7.74

-0.54 (-6.52%)

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ADIL

Adial Pharmaceuticals

$2.97

-0.12 (-3.88%)

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STNG

Scorpio Tankers

$18.85

-0.66 (-3.38%)

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NAVB

Navidea

$0.14

-0.0001 (-0.07%)

17:13
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