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Activision Blizzard expected to lay off hundreds of staff next week

12 February 2019

Note: The author previously worked for Activision Blizzard.

It is reported that Activision Blizzard are set to axe "hundreds" of employees as a result of poor financial showings. Following these latest developments, around 40.70% of Coty Inc. stocks are owned by institutional investors and hedge funds. Cleararc holds 19,697 shs or 0.21% of its capital. Capital Investment Advisory Services LLC purchased a new stake in Activision Blizzard in the 4th quarter worth about $37,000. This has forced the titan publishers like Activision, which experienced a decline in audience size, to shift their strategy. (NASDAQ:ATVI) for 10,061 shares. Mai Cap Mngmt holds 2,587 shs or 0.01% of its capital. Asset Management One Limited reported 1.20M shs. Thompson Davis has 0.35% invested in Activision Blizzard, Inc.

Reiterated Activision Blizzard (NASDAQ:ATVI) Rating. Activision Blizzard's report comes on the heels of disappointing results from rivals Electronic Arts (EA) and Take-Two Interactive (TTWO). On average, these analysts now have a Strong Buy recommendation with a mean rating of 4.45. Since analyst price targets calculations are subjective, there often can be wide range of targets from various analysts.

Destiny will be out of the equation because of Bungie's departure - which will reportedly cost Activision Blizzard $400 million in annual revenue might we add - meaning Call of Duty: Black Ops 4 to shore up earnings for its publishers; and could Blizzard finally be leaving Activision? Тherefore 50% are bullish.

Several research firms have recently issued reports on ATVI. (NASDAQ:ATVI) has "Overweight" rating given by KeyBanc Capital Markets. On Friday, August 31 Bank of America downgraded Activision Blizzard, Inc. The stock has "Overweight" rating by KeyBanc Capital Markets on Wednesday, October 31. On Thursday, December 6 JP Morgan upgraded the shares of ATVI in report to "Overweight" rating. This stock price move and price percentage is noteworthy to traders as it shows final value of stock and how much it changed in recent trading session. It has underperformed by 22.23% the S&P500.

According to Eurogamer, reports have suggested that Activision Blizzard - developers of highly-popular games like Overwatch, StarCraft, Call of Duty and Diablo - are prepared for a mass exodus. The EPS diference is $0.34 or 38.64 % up from last years number. Analyst established EPS growth expected to grow of -7.00% for this year and EPS growth for next year is likely to attain at -1.85%. Activision Blizzard had a net margin of 8.07% and a return on equity of 15.44%. It has retreated -95.07% since it's 52-week high of $84.68 reached in October. In the meantime, the Activision Blizzard, Inc.

Activision Blizzard expected to lay off hundreds of staff next week