Stock Report: June 2 - 6
Rising unemployment and higher fuel prices helped US stocks decline this week
The combination of rising unemployment and higher fuel prices helped US stocks to decline this week, with the Dow Jones Industrial average falling 395 points - the most in the past 15 months.
The Dow closed the week at 12,209.81. The Standard & Poor 500 Index also declined, dropping 43.37 points to 1,360.68. NASDAQ fell 75.38 points to finish the week at 2,474.56.
In the games industry, Take-Two announced Q2 earnings this week, reporting USD 540 in net revenue and USD 98.2 million in net profit based upon sales of Grand Theft Auto IV.
Nevertheless, shares in the company remained near the value of EA's proposed offer - with analysts noting that Take-Two's other brands underperformed, and suggesting that the massive sell-in of GTA IV may limit reorders.
While Take-Two did say it had been talking to other interested parties, it did not indicate who those parties were. EA's latest offer expires on June 16.
Selected stock movements in the past week (at time of writing):
| Midway | 2.18 - 2.44 | +11.93% |
|---|---|---|
| SCi | 49.50 - 52.25 | +5.56% |
| THQ | 21.45 - 21.69 | +1.12% |
| Take-Two | 27.07 - 27.36 | +1.07% |
| Activision | 33.75 - 34.02 | +0.80% |
| Nintendo | 580 - 583 | +0.52% |
| Sega | 10.85 - 10.89 | +0.37% |
| Sony | 50.33 - 50.30 | -0.06% |
| Infogrames | 11.85 - 11.66 | -1.60% |
| Microsoft | 28.32 - 27.49 | -2.93% |
| Namco Bandai | 13.72 - 13.24 | -3.50% |
| Ubisoft | 62.30 - 59.93 | -3.80% |
| EA | 50.2 - 47.55 | -5.28% |
| Konami | 36.89 - 34.43 | -6.67% |
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.