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Take-Two Reports Better-Than-Expected Q1 Earnings, Reiterates FY27 Net Bookings Outlook of $8.0 to $8.2 Billion

"Game On" is The Fly's weekly recap of the stories powering up or beating down video game stocks.NEW RELEASES:This week's most notable new release is Electronic Arts' football sim "Madden NFL 27," which releases for PlayStation 5and Xbox Series X/Son August 13.'GTA VI' EXTENDED LOOK:Last Thursday, Take-Two'sRockstar Games announced that "Grand Theft Auto VI: An Extended Look" will premiere on NetflixThursday, August 27 at 3 p.m. ET and will also launch on the official Rockstar Games YouTube channel and the "Grand Theft Auto VI" site at 9 p.m. ET on August 27. "Grand Theft Auto VI" is coming November 19 to PlayStation 5 and Xbox Series X/S, the company added.Following the news, Raymond James said it views the announcement as further confirmation of the November 19 date and now sees the chance of a delay as "de minimis." The firm maintained a Strong Buy rating on Take-Two.TAKE-TWO RESULTS:Meanwhile, Take-Two reported better-than-expected Q1 earnings and net bookings last week, though bookings did decline 3% year-over-year. Strauss Zelnick, Chairman and CEO of Take-Two Interactive, stated: "Our excellent first quarter results reflect the power of our portfolio and disciplined execution across all of our labels. With these positive trends and excitement around the November 19th launch of Grand Theft Auto VI, we are reiterating our Fiscal 2027 Net Bookings outlook of $8.0 to $8.2 billion. Looking further ahead, we expect to sustain this new level of scale and generate strong cash flows, setting us on a path to deliver continued growth and long-term shareholder returns."NINTENDO RESULTS:Nintendoalso reported Q1 results last week, with earnings per share growing year-over-year while revenue slipped as the same quarter last year saw the launch of the Switch 2. Looking ahead, the company reaffirmed its FY27 net sales and Switch 2 hardware sales guidance, anticipating 16.5M Switch 2 units sold during the fiscal year."In our dedicated video game platform business in the first quarter of the fiscal year, Nintendo Switch 2 hardware maintained strong sales momentum, with sales totaling 3.82M units," the company said. "Looking at Nintendo Switch 2 software, titles such as Yoshi and the Mysterious Book, released in May, and Star Fox, released in June, performed steadily, and Pokemon Pokopia, released in the previous fiscal year, also sold well, with the result that Nintendo Switch 2 software sales totaled 9.46M units. As for Nintendo Switch, hardware sales totaled 0.66M units. Looking at Nintendo Switch software, Tomodachi Life: Living the Dream, released in April, has shown strong growth with sales reaching 7.94 million units. Given that consumers can play both Nintendo Switch 2 exclusive software and Nintendo Switch software with Nintendo Switch 2, Nintendo Switch titles released in past fiscal years have also shown stable sales. As a result, Nintendo Switch software sales totaled 33.81M units.""Turning to the digital business for our dedicated video game platforms, digital sales totaled 132.7B yen, up 90.0% year-on-year, mainly due to an increase in sales of downloadable versions of packaged software," Nintendo continued. "In our IP related business, sales reached 34.8B yen, up 107.4% year-on-year, thanks to the high level of audience engagement with The Super Mario Galaxy Movie. The end result is that overall sales totaled 517.8B yen. Although sales decreased compared to the same period of last fiscal year, operating profit increased 150.5% year-on-year to 142.5B yen, due to the growth in sales of software, which accounted for a larger proportion of total sales, and the refund of IEEPA tariffs in the US, which were recorded as cost of sales in prior periods. Ordinary profit totaled 206.1B yen, including 30.3B yen in share of profit of entities accounted for using equity method, foreign exchange gains of 16.8B yen, and interest income of 13.1B yen. Profit attributable to owners of parent totaled 147.4B yen."MORE VIDEO GAME NEWS:Ryan Cohen's GameStopis considering withdrawing its $56B bid for eBay,In a social media post, Georgia Attorney General Chris Carr called RobloxNintendo plans toin December 2026Microsoft's Halo Studios laid off staff less than a week after the developer released "Halo: Campaign Evolved,"Mike York, a former Rockstar Games animator who worked on "Grand Theft Auto V," said he "would not be shocked at all" if the Take-Two subsidiary opted to delay "Grand Theft Auto VI" another six months,

Stocks Open Lower as Middle East Uncertainty Grows

Stocks closed lower to start the week as traders are beginning to doubt that the U.S. and Iran will reach a lasting agreement to end the war in the near term. Balancing the negative sentiment around conflict in the Middle East are strong corporate earnings and optimism around AI spending.Iran is saying it is nearing an agreement with Oman on new shipping lanes but maintaining conditions that could delay a broader reopening. Meanwhile, Iranian Foreign Minister Abbas Araghchi said over the weekend that there was "no possibility of restarting negotiations" with the U.S. as long as Washington continues to violate the June memorandum of understanding. Oil prices were higher after the news.The market is also digesting last week's unexpectedly weak July jobs report, which showed payrolls fell by 23,000 and included substantial downward revisions to prior months. The report reduced expectations for a September Fed rate hike, but the outlook remains uncertain because inflation data due this week could complicate the picture.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Intelannounced a $15Bof common stockMetaunveiled open sourceGameStop'sRyan Cohen is considering withdrawing the company's $56B bid for eBay,Archer AviationBoeing'sWisk Aero, SkyGrid, and Insitu subsidiariesMonday.comreportedand reaffirmed its FY26 revenue guidance2. WALL STREET CALLS:JefferiesAppleto Underperform on apparent all-glass iPhone cancellationSanDiskto Buy at Argus on strong fundamentals and valuationDoximityto Underweight at Wells FargoHPEto Overweight at Morgan Stanley on server and storage spendingWall Street rolled out coverage of Csquarewith3. AROUND THE WEB:A consortium of major financial institutions is partnering with Nvidiaon a potential $500B financing effort for AI infrastructure, FT reportsAmazonis planning to invest in a large natural gas power plant to supply electricity directly to a major AI data center in Texas, underscoring how rapidly rising AI compute demand is driving tech companies to secure dedicated power generation, NY Times reportsSonyand (TSMC) plan to spend around 1 trillion yen, or $6.32B, to jointly make next generation microchips used in image sensors, Nikkei Asia saysMicrosoftplans to significantly ramp production of its next-generation in-house AI chips next year, aiming to win adoption from major cloud customers such as Anthropic despite slow uptake of the current-generation chips, The Information reportsSanofiis facing shortages of Myozyme and Nexviazyme for Pompe disease after manufacturing and quality-control issues at its Waterford facility, which was cited by the FDA in June for violations involving production of other medicines, STAT says4. MOVERS:Bowman Consultinggained after announcingby Bernhard Capital for $43 per share and reporting Q2 resultsVarex Imagingincreased after announcing Teledynewillfor $18.90 per share in cash and reporting Q3 resultsMarineMaxwas higher after announcingby Safe Harbor for $53 per share in cashPowerFleetfell afterand cutting its guidance for FY27Lincoln Educationaland Bitdeerwere lower after5. EARNINGS/GUIDANCE:Surgery Partnersand backed its guidance for FY26N-ableand provided guidance for Q3 and FY26Aaonand raised its outlook for FY26, with CEO Matt Tobolski contending the results "demonstrate the continued strength of demand for our solutions and the progress we are making scaling the company to meet that demand"Monday.comand reaffirmed its outlook for FY26Accendra Healthand cut its outlook for FY26INDEXES:The Dow fell 60.95, or 0.11%, to 53,975.98, the Nasdaq lost 85.26, or 0.32%, to 26,605.36, and the S&P 500 declined 4.53, or 0.06%, to 7,753.11.

Major Averages Mixed at Open Amid Middle East Uncertainty

The major averages were mixed near noon to start the week, as traders are beginning to doubt that the U.S. and Iran will reach a lasting agreement to end the war in the near term. Balancing the negative sentiment around conflict in the Middle East are strong corporate earnings and optimism around AI spending.Iran is saying it is nearing an agreement with Oman on new shipping lanes but maintaining conditions that could delay a broader reopening. Meanwhile, Iranian Foreign Minister Abbas Araghchi said over the weekend that there was "no possibility of restarting negotiations" with the U.S. as long as Washington continues to violate the June memorandum of understanding. Oil prices were higher after the news.The market is also digesting last week's unexpectedly weak July jobs report, which showed payrolls fell by 23,000 and included substantial downward revisions to prior months. The report reduced expectations for a September Fed rate hike, but the outlook remains uncertain because inflation data due this week could complicate the picture. Investors will get the July CPI report Tuesday, followed by the PPI report later in the week.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Intelannounced aof common stockMetaunveiled open sourceGameStop'sRyan Cohen is considering withdrawing the company's $56B bid for eBay,Archer AviationBoeing'sWisk Aero, SkyGrid, and Insitu subsidiariesMonday.comreportedand reaffirmed its FY26 revenue guidance2. WALL STREET CALLS:JefferiesAppleto Underperform on apparent all-glass iPhone cancellationSanDiskto Buy at Argus on strong fundamentals and valuationDoximityto Underweight at Wells FargoHPEto Overweight at Morgan Stanley on server and storage spendingWall Streetof Csquarewith mostlybullish ratings3. AROUND THE WEB:Amazonis planning to invest in a large natural gas power plant to supply electricity directly to a major AI data center in Texas, underscoring how rapidly rising AI compute demand is driving tech companies to secure dedicated power generation, NYT reportsSonyand (TSMC) plan to spend around 1 trillion yen, or $6.32B, to jointly make next generation microchips used in image sensors, Nikkei Asia saysMicrosoftplans to significantly ramp production of its next-generation in-house AI chips next year, aiming to win adoption from major cloud customers such as Anthropic despite slow uptake of the current-generation chips, The Information reportsSanofiis facing shortages of Myozyme and Nexviazyme for Pompe disease after manufacturing and quality-control issues at its Waterford facility, which was cited by the FDA in June for violations involving production of other medicines, STAT saysImperial Brandsis preparing to cut thousands of jobs across the U.S. and Europe as part of a cost-cutting initiative, Bloomberg reports4. MOVERS:Bowman Consultinggains after announcing it will befor $43 per share and reporting Q2 resultsVarex Imagingincreases after announcing Teledynewillfor $18.90 per share in cash and reporting Q3 resultsMarineMaxhigher after announcing it will befor $53 per share in cashPowerFleetfalls afterand cutting its guidance for FY27Lincoln Educationaland Bitdeerlower after5. EARNINGS/GUIDANCE:Surgery Partnersand backed its guidance for FY26N-ableand provided guidance for Q3 and FY26Aaonand raised its outlook for FY26, with CEO Matt Tobolski contending the results "demonstrate the continued strength of demand for our solutions and the progress we are making scaling the company to meet that demand"Monday.comand reaffirmed its outlook for FY26Accendra Healthand cut its outlook for FY26INDEXES:Near midday, the Dow was down 20.58, or 0.04%, to 54,016.35, the Nasdaq was down 18.40, or 0.07%, to 26,672.22, and the S&P 500 was up 9.16, or 0.12%, to 7,766.80.