Stock Report: May 12 - 16
US stock markets post slight weekly gain despite lowest consumer confidence since 1980
US stocks declined Friday as the consumer confidence index fell to its lowest level since President Carter was in office in June of 1980.
The losses were shallow, however, with rising energy prices helping the indices post a gain from last week.
The S&P 500 ended the week at 1,425.35 - a 2.7 per cent increase from the prior week. The Dow Jones Industrial Average closed at 12,986.8, which was a 1.9 per cent gain for the week. NASDAQ, meanwhile, saw a 3.4 per cent gain to 2,528.85.
Companies announcing earnings this week included Vivendi Games (USD 341.8 million Q1 revenues), Konami (USD 2.8 billion FY 2008 revenues), NCsoft (USD 7.7 million net profit for Q1), Sega Sammy (USD 499 million FY 2008 net loss) and Sony (USD 1.18 billion FY 2008 loss for its games division).
Electronic Arts' most recent acquisition offer for Take-Two is set to expire at midnight tonight. With Take-Two's stock closing the week at USD 27.10 - nearly two dollars above EA's last offer - it is unlikely that a majority of shareholders will accept the offer.
EA could, however, amend and extend its offer once again.
Selected stock movements in the past week (at time of writing):
| Sony | 44.74 - 49.50 | +10.64% |
|---|---|---|
| Konami | 34.75 - 38.24 | +10.07% |
| Ubisoft | 64.85 - 69.90 | +7.79% |
| Namco Bandai | 13.28 - 13.97 | +5.2% |
| Midway | 2.10 - 2.20 | +4.76% |
| Activision | 31.64 - 32.94 | +4.11% |
| Nintendo | 576 - 599 | +3.99% |
| Microsoft | 29.39 - 29.99 | +2.04% |
| Take-Two | 26.67 - 27.10 | +1.61% |
| THQ | 18.61 - 18.85 | +1.29% |
| Infogrames | 12.50 - 12.30 | -1.6% |
| Sega | 12.09 - 11.78 | -2.56% |
| EA | 52.61 - 49.60 | -5.72% |
| SCi | 53.75 - 47.5 | -11.63% |
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.