Activision-Blizzard reportedly planning hundreds of job-cuts

Roman Schwartz
February 13, 2019

It has change of 0.37, from 2018Q2's 1.2. 122 funds acquired stakes and 269 increased stakes. 663.95 million shares or 2.95% more from 644.93 million shares in 2018Q2 were reported. Since there are so many eyes on the 200-day SMA of Activision Blizzard, many traders will place their orders around this key level. Bremer Natl Association reported 0.05% stake. As for a performance, the company's showed return of -6.79% since start of the year. Rafferty Asset Management LLC boosted its position in shares of Activision Blizzard by 32.2% in the 4th quarter.

Epic Games's "Fortnite" has been a thorn in the side for Activision Blizzard. (NASDAQ:ATVI). Renaissance Grp Limited holds 393,290 shares or 1.15% of its portfolio.

One of those let go was WoW community manager Ythisens, who tweets "As of today I'm no longer an employee of Blizzard".

Activision Blizzard didn't immediately respond to a request for comment. On Wednesday, October 31 the stock has "Overweight" rating by KeyBanc Capital Markets.

The company has struggled with a shift in the market that has impacted its revenue growth, particularly in the Blizzard segment. During the trading session, a total of 44.62 million shares were traded which represents a -272.18% decline from the average session volume which is 11.99M shares. About 94,065 shares traded.

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Tonight, Activision reports its fourth-quarter earnings after the U.S. market closes. The stock underperformed the S&P500 by 22.23%.

For more Activision Blizzard, Inc.

The plan for 2019 includes increasing development investment in the biggest Activision Blizzard franchises, "enabling teams to accelerate the pace and quality of content for their communities and supporting a number of new product initiatives". As a result, Activision Blizzard reported the audience size for its games dipped from 352 million in the second quarter previous year to the 345 million in the third quarter, marking the fourth consecutive quarter of user declines. More interesting news about Activision Blizzard, Inc. The Activision Blizzard, Inc. generated $1,658.00 million in revenue during the last quarter, which is slightly higher than the $1,657.00 million predicted by analysts. Therefore 50% are positive.

However, the company's profit beat estimates by a cent and the game publisher announced a new share buyback program of up to $1.5 billion, while saying it would cut about 800 jobs to focus on developing its games franchises, sending its shares up 3 percent in after-market trading. Cibc World has invested 0.02% in Activision Blizzard, Inc. Needham thinks that ATVI is worth Buy rating. On Friday, August 31 the company was downgraded by Bank of America.

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