Activision Blizzard Inc.'s (ATVI) shares fall report that they are planning layoffs

NASDAQ: ATVI | Activision Blizzard, Inc News, Ratings, and Charts

ATVI – ATVI STOCK SLIPS TO NEW LOW ON LAYOFF BUZZ.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are down 5% at $41.23 in early market trading after Bloomberg reported that the video game giant is planning on announcing a round of layoffs. The cuts — which could potentially affect hundreds of employees — are a response to a slowdown in sales and an attempt to restructure. Activision Blizzard, Inc (ATVI - Get Rating) already touched a two-year low of $41.19.

Since its post-earnings bear gap on Nov. 9, the shares of the “Call of Duty” maker have failed to gain any type of momentum. The equity was neatly contained by its 50-day moving average during its most recent breakout attempt, and has moved below the formerly support $45 level.

Analysts are already responding to the bad news, with Benchmark dramatically cutting its price target to $68 from $87. Activision could be vulnerable to more downgrades, too. Currently the security holds 15 “strong buy” ratings, two “buys,” five “holds,” and not a single “sell.” Plus, the consensus 12-month target price of $59.18 holds a roughly 44% premium to current levels.

Traders remain optimistic in the options pits too. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ATVI’s 10-day call/put ratio of 5.45 stands in the 99th percentile of its annual range. This means more than five calls were bought to open for every put.


Activision Blizzard Inc. shares were trading at $40.55 per share on Monday afternoon, down $2.86 (-6.59%). Year-to-date, Activision Blizzard, Inc (ATVI - Get Rating) has declined -12.93%, versus a 8.37% rise in the benchmark S&P 500 index during the same period.

Activision Blizzard, Inc (ATVI - Get Rating) currently has a StockNews.com POWR Rating of D (Sell), and is ranked #8 of 10 stocks in the Entertainment – Toys & Video Games category.


This article is brought to you courtesy of Schaeffer’s Investment Research.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

Does 1 Equation Hold the Key for Stock Prices?

At first I thought it was outrageous to believe this 1 equation is only that mattered for stock prices. Then I saw it happen plain as day in February 2016. Now I believe it will happen again.
NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

Trump Delays Chinese Tariffs, is He Just Postponing the Inevitable?

In this featured article, Trump's postponement of Chinese tariffs is examined. Could the President be postponing the inevitable? Continue reading for more details.
: sndl | Sundial Growers Inc. News, Ratings, and Charts

Why are cannabis stock investors focusing on Sundial Growers (SNDL)?

Sundial growers are one of the most recent IPOs within the cannabis sector.
: CGC | Canopy Growth Corporation  News, Ratings, and Charts

Why did Canopy Growth's (CGC) stock plunge 14% today?

Canopy Growth Corp. (CGC) disappointed Wall Street yesterday with an earnings report that showed the worst bottom-line performance in the company’s history.
: TLRY | Tilray, Inc. - Class 2  News, Ratings, and Charts

The Aftermath of Tilray’s Quarterly Earnings Report

Tilray reported earnings on Tuesday after the close and the stock sank in after-hours.

Read More Stories


More Activision Blizzard, Inc (ATVI) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All ATVI News
Page generated in 1.0633 seconds.