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Morgan Stanley Maintains Overweight Rating on Take-Two with $280 Price Target
"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 game release is Take-Two'sbasketball sim "NBA 2K27," which launches on September 3 for PC, PlayStation 5, Nintendo Switch 2, and Xbox Series X/S. Meanwhile, Bandai Namco'saction role-playing game "The Blood of Dawnwalker" releases for PC, PS5, and Xbox Series X/S on September 3 as well. Additionally, Capcom'saction title "Onimusha: Way of the Sword" releases for PC, PS5, Xbox Series X/S, and Switch 2 on September 4.'GRAND THEFT AUTO VI':Last week, Netflixshowcased Take-Two's "Grand Theft Auto VI: An Extended Look," which contained nearly half an hour of gameplay footage from the upcoming game, which is set to release on November 19. Following the showcase, JPMorgan said that despite investor concern following recent hacker-driven leaks, the extended look once again reiterated the November 19 launch of GTA VI, with the firm adding that it believes the look should further support GTA VI interest.Meanwhile, Morgan Stanley reiterated an Overweight rating and $280 price target on Take-Two as the marketing campaign for "Grand Theft Auto VI" had officially begun. The firm remains bullish on the publisher as the run-up to major launches is a tailwind for publisher stocks and continues to see significant operating leverage potential, if "GTA" beats the firm's bas case estimates. History suggests there is material room for share outperformance for "GTA VI," as such highly-anticipated launches have driven significant institutional and retail engagement with game publisher stocks, particularly as marketing campaigns begin in the final 3-6 months, the analyst tells investors in a research note.Additionally, BofA called the gameplay reveal "impressive," but does not expect the showcase to move the stock meaningfully, as many mechanics were already known and "recent leaks have stripped away some mystery." The firm, which expects "GTA Online" to drive the main debate, maintains a Buy rating and $368 price target on Take-Two shares.SONY/DIGITAL OWNERSHIP:In a court filing, Sony contended that PlayStation customers can't own digital games since multiple customers can obtain the same title from its online marketplace, Insider-Gaming's Robert DeFelice reported. The PlayStation maker said that digital ownership would be impossible since a player could not own something purchased on a digital store if someone else had already purchased it, the author noted.XBOX/DISCS:Last week, Microsoft's Xbox said in a blog post, "Today we are introducing a feature that brings the benefits of digital to physical discs, giving players more flexibility in how they access and play supported games across the XBOX ecosystem. XBOX Insiders can begin testing next week on August 31. This is part of our broader commitment to game preservation. As technology, devices, and distribution continue to evolve, preserving access to the games people own matters more than ever. Most XBOX One and XBOX Series X disc-based games support this new feature. Players can claim a digital entitlement by inserting a supported disc into an XBOX One or XBOX Series X console and launching the game. Once the entitlement is claimed, you can experience the benefits of digital, including XBOX Play Anywhere and XBOX Cloud Gaming where supported, while your physical disc continues to work exactly as it always has. We're starting with thousands of titles, and we'll continue to add more over time. While not every title will be available at launch, this is an important step toward a future where players can have greater confidence that the games they buy remain with them for years to come."MORE VIDEO GAME NEWS:The European Commission has designated Robloxas aunder the Digital Services ActCD Projektannouncedan updated version of 2015's "The Witcher 3: Wild Hunt," out September 29GameStopreportedof $780M-$800M compared to $972.2M in the same period last year
Major Averages Decline as September Rate Hike Probability Rises to 60%
The major averages finished lower for the day, though still advanced on a monthly basis in August. The pullback to start the week followed renewed fighting between the U.S. and Iran, which has pushed oil sharply higher and raised concerns about another inflationary shock.Markets are now pricing roughly a 60% probability of a September rate hike, up from about 41% a week ago. Fed Chair Kevin Warsh's hawkish Jackson Hole comments, combined with renewed energy-price pressures, have pushed investors to reconsider expectations for monetary easing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:PG&E, Edison Internationaland Sempra Energywere trading lower after the California Legislatureto address the state's wildfire risk reduction and recovery frameworkAon plcUSI from KKRfor $17BOpenAI plans toproviding AI models to SpaceX'sCursorEli Lillywillfor $2.88B in cashSLBKelvion from Apollo Globalfor a total consideration of $4.1B2. WALL STREET CALLS:Deereraised to Outperform as Bairdfour agriculture names on 2027 recoveryPG&Eat Wells Fargo, Mizuho and BMO on lack of California wildfire reformBraveheart Biowaswith a Buy or equivalent rating at no less than five firmsAbercrombie & Fitchto Buy at Argus on evidence of improved salesGuggenheimTenax Therapeuticson clinical, regulatory uncertainty3. AROUND THE WEB:Apple'sPhil Schiller is stepping down from his position leading the tech giant's App Store and product events, Bloomberg reportsSoftBank-backedSB Energy issued warrants worth an estimated $5.5B to OpenAI in order to secure it as a data-center tenant for a 20-year lease ahead of its initial public offering, WSJ saysGlencorehas taken a provision of $480M on its exposure to Radiant World, which covers Glencore's entire outstanding net exposure to Radiant, Bloomberg reportsGeneral Motorsworkers in Canada approved an agreement to invest over $720M in Canadian plants, Reuters reportsMetaremoves advertisements from Facebook and Instagram after India flagged a pattern of ads using sexually explicit content to lure users into downloading malware that could steal banking information and drain accounts, Reuters says4. MOVERS:CrowdStrikewas higher afterwith Cognizant, expanding its Project QuiltWorks, and announcing the availability of its Falcon platform on Google CloudTeslagained after, "SpaceX and Tesla are each building 100GW/year of solar production capacity as fast as possible, but natural gas will still be needed to supplement and bootstrap solar for several years"XP Inc.increased in New York after Itau BBAthe stock to OutperformHerbalifewas lower after announcing Gratziani willAmazon (AMZN) fell after the FTC and 22 U.S. statesover an alleged secret ad surcharge scheme5. EARNINGS/GUIDANCE:SAICand raised its outlook for FY27GameStopreportedNextech3D.AI, with revenue higher year-over-yearPulsenmore, with CEO Dr. Elazar Sonnenchein commenting on "a transformative period"BioLineRx, with revenue lower year-over-yearINDEXES:The Dow fell 374.09, or 0.70%, to 53,185.90, the Nasdaq lost 31.53, or 0.12%, to 26,370.89, and the S&P 500 declined 25.62, or 0.33%, to 7,686.14.
Major Averages Broadly Lower as Oil Prices Rise
The major averages were broadly lower near noon as higher oil prices added to inflation risks and consolidated concerns of an incoming rate hike by the Federal Reserve. The pullback follows renewed fighting between the U.S. and Iran, which has pushed oil sharply higher and raised concerns about another inflationary shock.Markets are now pricing roughly a 60% probability of a September rate hike, up from about 41% a week ago. Fed Chair Kevin Warsh's hawkish Jackson Hole comments, combined with renewed energy-price pressures, have pushed investors to reconsider expectations for monetary easing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:PG&E, Edison Internationaland Sempra Energywere trading lower after the California Legislature amended Senate Bill 492 to address the state's wildfire risk reduction and recovery frameworkAon plcUSI from KKRfor $17BOpenAI plans toproviding AI models to SpaceX'sCursorEli Lillywillfor $2.88B in cashSLBKelvion from Apollo Globalfor a total consideration of $4.1B2. WALL STREET CALLS:Deereto Outperform as Baird upgraded four agriculture names on 2027 recoveryPG&Eat Wells Fargo, Mizuho and BMO on lack of California wildfire reformBraveheart Biowaswith a Buy or equivalent rating at no less than five firmsAbercrombie & Fitchto Buy at Argus on evidence of improved salesGuggenheimTenax Therapeuticson clinical, regulatory uncertainty3. AROUND THE WEB:SoftBank-backedSB Energy issued warrants worth an estimated $5.5B to OpenAI in order to secure it as a data-center tenant for a 20-year lease ahead of its initial public offering, WSJ saysGlencorehas taken a provision of $480M on its exposure to Radiant World, which covers Glencore's entire outstanding net exposure to Radiant, Bloomberg reportsGeneral Motorsworkers in Canada approved an agreement to invest over $720M in Canadian plants, Reuters reportsMetaremoves advertisements from Facebook and Instagram after India flagged a pattern of ads using sexually explicit content to lure users into downloading malware that could steal banking information and drain accounts, Reuters saysChangXin Memory Technologies, or CXMT, is suing the Pentagon to overturn its designation as a Chinese military company, WSJ reports4. MOVERS:CrowdStrikehigher after announcing awith Cognizant (CTSH, expanding its Project QuiltWorks, and announcing the availability of its Falcon platform on Google CloudTeslagains after, "SpaceX and Teslaare each building 100GW/year of solar production capacity as fast as possible, but natural gas will still be needed to supplement and bootstrap solar for several years"XP Inc.increases in New York after Itau BBAthe stock to OutperformHerbalifelower after announcingfrom role as CEOPinterestfalls after announcing theJulia Brau Donnelly5. EARNINGS/GUIDANCE:SAICand raised its outlook for FY27GameStopNextech3D.AI, with revenue higher year-over-yearPulsenmore, with CEO Dr. Elazar Sonnenchein commenting on "a transformative period"BioLineRx, with revenue lower year-over-yearINDEXES:Near midday, the Dow was down 305.95, or 0.57%, to 53,254.04, the Nasdaq was down 89.50, or 0.34%, to 26,312.92, and the S&P 500 was down 33.45, or 0.43%, to 7,678.31.
Investors Pull Back Amid Geopolitical and Inflation Concerns
Stock futures are slightly lower as investors close out August with renewed geopolitical and inflation concerns. The pullback follows renewed fighting between the U.S. and Iran, which has pushed oil sharply higher and raised concerns about another inflationary shock.Brent crude has climbed above $90 a barrel, while WTI is around $86, after U.S. forces struck Iranian rocket launchers near the Strait of Hormuz and Iran retaliated against U.S. forces in the region.Markets are now pricing roughly a 60% probability of a September rate hike, up from about 41% a week ago. Fed Chair Kevin Warsh's hawkish Jackson Hole comments, combined with renewed energy-price pressures, have pushed investors to reconsider expectations for monetary easing.The market is nevertheless finishing a strong August. The S&P 500 is up roughly 3% for the month, the Nasdaq about 4% and the Dow about 2%, according to premarket data. The gains have been driven largely by technology and AI stocks. Attention now turns to a data-heavy first week of September. The ISM manufacturing report is due Tuesday, followed by the August employment report Friday. The jobs report will be particularly important for the Fed after July's disappointing payroll reading, with economists expecting employment to rebound in August.In pre-market trading, S&P 500 futures fell 0.36%, Nasdaq futures fell 0.32% and Dow futures fell 0.37%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -SLBup 1% after signing an agreement to acquire Kelvion for $3.4B in cashUP AFTER EARNINGS -SAICup 11%BioLineRxup 9%GameStopup 3%UP AFTER RENEWED STRIKES IN THE MIDDLE EAST -Halliburtonup 2%Chevronup 2%Valeroup 2%Occidentalup 2%Exxon Mobilup 2%LOWER -PG&E, Edison Internationaland Sempra Energydown 16%, 15% and 3%, respectively, afterCalifornia lawmakers are barring Governor Gavin Newsom from moving forward with his plan to prevent insurers in the state from recouping their losses from investor-owned utilities that cause a catastrophic wildfireTela Bio (TELA) down 5% after announcing that Roberto Cuca, COO and CFO, will step down from the role effective immediatelyPinterestdown 3% after disclosing that Julia Brau Donnelly, CFO, submitted her resignation to Pinterest to pursue another opportunityAon plcdown 1% after entering a definitive agreement to acquire USI from KKRand other shareholders for a total purchase price of $17B
Cash and Cash Equivalents Expected to Range from $5.050B to $5.070B
Cash, cash equivalents and marketable securities are expected to be in the range of $5.050B-$5.070B, compared to $8.694B at the close of the prior year's second quarter.
Esta página es solo para investigación y no constituye asesoramiento de inversión. Los modelos pueden equivocarse. El rendimiento pasado no garantiza resultados futuros.









