Stock Report: March 24 - 28
The US stock markets extended their worse quarterly slump since 2002
The US stock markets declined again this week, extending the worst quarterly slump in six years, even as Asian stocks saw their biggest weekly gain of the year. European shares, meanwhile, also dropped on concerns of an economic slowdown according to Bloomberg.
The S&P 500 ended the week at 1,315.22, down 1.1 per cent. The Dow Jones declined 0.7 per cent to 12,216.4. NASDAQ decreased 0.9 per cent to close at 2,261.18.
EA amended its hostile takeover bid for Take-Two to overcome a shareholder rights plan designed as a poison pill and extended its offer until April 18 in light of the Take-Two shareholder meeting on April 17.
Midway, who announced the departure of CEO David Zucker last week, saw its shares rise 22.39 per cent. The biggest percentage gain of the week, however, came from Infogrames - its stock was up 23.2 per cent from the prior week.
Infogrames subsidiary Atari Inc. still had not accepted a proposed acquisition by its parent company and was once again threatened with delisting by NASDAQ for failing to maintain the requisite value.
Selected stock movements in the past week (at time of writing):
|Infogrames||10.95 - 13.49||+23.20%|
|Midway||2.01 - 2.46||+22.39%|
|SCi||37 - 43.5||+17.57 %|
|Ubisoft||49.07 - 53.77||+9.58%|
|THQ||20.25 - 21.31||+5.23%|
|Activision||26.55 - 27.29||+2.79%|
|Konami||37.92 - 38.88||+2.53%|
|EA||48.46 - 49.34||+1.82%|
|Sega||10.71 - 10.73||+0.19%|
|Nintendo||521 - 523||-0.38%|
|Take-Two||25.47 - 25.33||-0.55%|
|Sony||41.9 - 40.64||-3.01%|
|Microsoft||29.18 - 27.91||-4.35%|
|Namco Bandai||14.27 - 13.50||-5.40%|
Please note that stock prices on differing markets may be influenced by separate local events, and shouldn't necessarily be compared like for like. This list is not a ranking of total market valuation; selected stocks only. Prices given in local exchange currency, except Tokyo stocks, which are converted into USD.