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Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says
US Markets

Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says

Take-Two Interactive Software's (TTWO) "Grand Theft Auto VI" pre-order tracking suggests "robust" demand for the highly anticipated video game ahead of its commercial launch in November, B. Riley Securities said Friday.Two-week tracking of digital storefronts and retail websites showed GTA VI was the top-selling item across all monitored platforms last month, when pre-orders started, and among the top-ranked items in early July, according to the brokerage. The tracking covered Sony's (SONY) PlayStation Store, Microsoft's (MSFT) Xbox Live, Amazon.com (AMZN), Walmart (WMT), Best Buy (BBY), and GameStop (GME)."While this analysis was qualitative in nature, we believe findings suggest robust demand for the game," B. Riley Managing Director Drew Crum said in a note to clients. The analysis supports the brokerage's "positive fundamental outlook" for Take-Two's shares, according to Crum.B. Riley maintained its buy rating on the video game publisher's stock with a $300 price target.The company's shares were down 1% in Friday afternoon trade, bringing its year-to-date losses to 4.8%.The Ultimate Edition of the game, which is priced at $99.99, was the most popular version on PlayStation Store and Xbox Live, according to B. Riley."Pre-orders were heavily weighted to PS5 (stock keeping units), which is not surprising given Sony's console system has outsold Xbox Series X/S by more than 3-to-1 (by our estimation) during the current hardware cycle," Crum said. "We forecast GTA VI full game net bookings at $2.5 billion (37M units x $68 ASP), which spans (over four) months."Take-Two could provide updates on pre-order performance for the game with its latest quarterly financial results next month, potentially providing a lift for the company's stock, Crum said.B. Riley expects net bookings of $1.35 billion for the quarter, which it said is below Wall Street's estimate of $1.40 billion. The brokerage's non-GAAP earnings forecast of $0.34 a share exceeds consensus of $0.33, according to the note.Price: $243.89, Change: $-2.21, Percent Change: -0.90%

$AMZN$BBY$GME$MSFT$SONY$TTWO$WMT
Wire

Market Chatter: Netflix, Other Media Companies Eye Letterboxd Sale

Netflix (NFLX) is in early talks to acquire film-focused social platform Letterboxd, which has been exploring a sale, Variety reported Friday, citing an earlier Puck report.The report said other potential suitors include Sony (SONY) Pictures Entertainment, Paramount Skydance (PSKY), private equity firm TPG (TPG) and Reddit (RDDT) co-founder Alexis Ohanian.Letterboxd, which has more than 30 million members worldwide, is reportedly being marketed at a valuation of about $250 million.Netflix, Paramount Skydance, Sony, TPG and Reddit did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $73.18, Change: $-2.30, Percent Change: -3.04%

$NFLX$PSKY$RDDT$SONY$TPG
Insider Trading

Sony Group Insider Sold Shares Worth $776,292, According to a Recent SEC Filing

Ravi Ahuja, Business CEO in charge of Pictures Business, on July 06, 2026, sold 36,826 shares in Sony Group (SONY) for $776,292. Following the Form 4 filing with the SEC, Ahuja has control over a total of 58,786 common shares of the company, with 58,786 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/313838/000119312526298462/xslF345X05/ownership.xmlPrice: $21.23, Change: $-0.17, Percent Change: -0.82%

$SONY
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.6%.The Philadelphia Semiconductor index slumped 5.5%.In sector news, technology company Plaid is considering an initial public offering, Bloomberg reported. The company, whose network helps fintech apps connect with customer accounts, has had preliminary talks with banks about a possible IPO, the report said.In corporate news, Apple (AAPL) received a warning from Russia's anti-monopoly watchdog to address alleged discriminatory practices against Russian search engines and software, and failure to remedy the violations by July 15 could result in a fine of up to 4 billion roubles ($51.6 million), Reuters reported. Apple shares were up 1.6%.Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOGL) Google Cloud, Bloomberg reported. Meta shares jumped 9%.Sony (SONY) said Wednesday it will shut down the PlayStation Store digital marketplaces for its PlayStation 3 and PlayStation Vita consoles in phases. Sony shares rose 0.7%.Micron Technology (MU) has signed a strategic customer agreement with General Motors (GM) to provide a long-term supply of memory and storage platforms for the automaker's future vehicle production, the companies said Wednesday. Micron shares were falling 8%.

$AAPL$META$MU$SONY
Sectors

Sector Update: Tech Stocks Decline Wednesday Afternoon

Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.1% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.6%.The Philadelphia Semiconductor index slumped 5.4%.In corporate news, Meta Platforms (META) is building a cloud infrastructure business to sell access to AI computing power and models, setting up a new area of competition with Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, and Alphabet's (GOOGL) Google Cloud, Bloomberg reported. Meta shares jumped nearly 10%, Amazon was up 2.5%, Microsoft rose 3.9%, and Alphabet added 0.5%.Sony (SONY) said Wednesday it will shut down the PlayStation Store digital marketplaces for its PlayStation 3 and PlayStation Vita consoles in phases. Sony shares rose 0.5%.Micron Technology (MU) has signed a strategic customer agreement with General Motors (GM) to provide a long-term supply of memory and storage platforms for the automaker's future vehicle production, the companies said Wednesday. Micron shares were falling past 8%.

$AMZN$GOOGL$META$MSFT$MU$SONY
Wire

Sony Group To Close PlayStation Store For PlayStation 3, PlayStation Vita

Sony Group (SONY) said Wednesday it will shut down the PlayStation Store digital marketplaces for its PlayStation 3 and PlayStation Vita consoles in phases.Users located in Mexico, Honduras, and Nicaragua will lose access to the PlayStation 3 store in August, while other parts of Latin America and the Middle East will see PlayStation 3 store closures late this year, the company said.All remaining global regions will lose access to both the handheld and home console digital shops in July 2027, Sony said.Console owners can continue downloading their existing libraries of previously bought digital items after the marketplace shutdown deadlines for the foreseeable future, the company added.Price: $20.09, Change: $+0.03, Percent Change: +0.12%

$SONY
Take-Two Interactive's 'GTA VI' Pricing Suggests Incremental Upside to Financials, B. Riley Says
US Markets

Take-Two Interactive's 'GTA VI' Pricing Suggests Incremental Upside to Financials, B. Riley Says

Take-Two Interactive Software's (TTWO) financials are poised to get a boost from the higher-than-expected pricing of the "Grand Theft Auto VI" video game, B. Riley Securities said in a note e-mailed Thursday.In a Wednesday update, the video game publisher's Rockstar Games said pre-orders for the highly anticipated title would begin Thursday, with the base edition introduced at $79.99. The game will be available on Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox platforms.B. Riley said the game's price is $10 higher than originally modeled and the industry standard for a new triple A game on current-generation console systems."We view this update favorably given it insinuates confidence in the quality of the game (and) suggests incremental upside to financials -- keeping unit volume unchanged implies an incremental ($300 million-plus) to net bookings in our model," B. Riley analyst Drew Crum said in a note to clients.The brokerage now projects Take-Two's non-GAAP earnings at $8 per share for 2027 and $9.75 for 2028, compared with its prior outlooks of $7.52 and $9.36, respectively. B. Riley's unit estimates for GTA VI are unchanged at 37 million and 28.9 million for 2027 and 2028, respectively, according to the note.The latest update from Rockstar also offers another data point that confirms the game's Nov. 19 launch date remains intact, Crum said.GTA VI was originally slated to come out in 2025, but was delayed first to May 26 this year and then to Nov. 19.B. Riley sees Rockstar's update favorably for Turtle Beach (TBCH) and the video game industry. It is neutral in terms of impact to Corsair Gaming (CRSR) and Roblox (RBLX), and "potentially negative for other parts of our universe as the game consumes mindshare and limited entertainment time," Crum wrote.Price: $233.81, Change: $-1.91, Percent Change: -0.81%

$CRSR$MSFT$RBLX$SONY$TBCH$TTWO
Wire

Sony Group's Video Game Developer Bungie Cuts Jobs

Sony Group's (SONY) Sony Interactive Entertainment said it has decided to implement job cuts at its video game unit Bungie, with a "significant" number of affected employees getting the notice Thursday.In an email to employees Thursday, Sony Interactive's Studio Business Group Chief Executive Hermen Hulst said the layoffs are needed to align studio resources with current priorities and long-term goals.The reductions affect most of the Destiny team, some team members of the game Marathon, and Sony Interactive teams supporting Bungie's operations, Hulst said.In a post Thursday on social media platform Bluesky, Bungie said the reduction comes after its online game Destiny 2 "fell short of expectations" in the past several years.Shares of Sony Group were down 2.9% in Thursday trading.Price: $19.44, Change: $-0.58, Percent Change: -2.87%

$SONY
Treasury

Sony Group Launches Senior Notes Offering

Sony Group (SONY) said in a regulatory filing Wednesday it will issue senior unsecured notes totaling $1 billion at par of the principal amount.The offering comprises of $500 million of 4.657% notes due 2031 and another $500 million of 5.089% notes due 2036, according to the filing.Proceeds will be used for general corporate purposes, it said.Price: $20.17, Change: $+0.53, Percent Change: +2.70%

$SONY
Insider Trading

Sony Group Insider Sold Shares Worth $1,047,540, According to a Recent SEC Filing

Tsuyoshi Kodera, Chief Digital Officer, on June 17, 2026, sold 51,000 shares in Sony Group (SONY) for $1,047,540. Following the Form 4 filing with the SEC, Kodera has control over a total of 27,553 common shares of the company, with 27,553 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/313838/000119312526275633/xslF345X05/ownership.xmlPrice: $20.22, Change: $-0.02, Percent Change: -0.12%

$SONY
Take-Two's Rockstar Says 'GTA VI' Pre-Orders to Start June 25; Shares Rise
US Markets

Take-Two's Rockstar Says 'GTA VI' Pre-Orders to Start June 25; Shares Rise

Take-Two Interactive Software's (TTWO) Rockstar Games said "Grand Theft Auto VI" pre-orders will open next week, sending the video game publisher's stock higher Thursday.Advance purchases for the highly anticipated video game will begin June 25 on digital platforms and at certain retailers. Customers can place the title on their wish lists through Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox storefronts, Rockstar said.Take-Two shares were up 6% in afternoon trade. So far this year, the stock has lost 5.6% in value.Last month, Take-Two said the latest game of the iconic series was on track to be released on its scheduled Nov. 19 date. The game was originally slated to come out in 2025, but was delayed first to May 26 this year and then to Nov. 19.Rockstar released GTA VI's official cover art Thursday, but didn't mention the price.In May, Take-Two reported a smaller-than-expected fiscal fourth-quarter loss.Oppenheimer said at the time it expected GTA VI to contribute $3.45 to the company's non-GAAP per-share earnings in fiscal 2027, assuming 40 million units are sold at a $70 base price. However, buyside estimates indicated that more than 50 million units may be sold, the brokerage's analyst, Martin Yang, said in a research note at the time.An incremental 10 million GTA VI sales would add $1 to 2027 estimates, according to Yang. "While we view (50 million) unit sales in (fiscal 2027) as possible, we believe management is unlikely to guide to such an optimistic goal initially," Yang said in the May report.Price: $240.76, Change: $+12.73, Percent Change: +5.58%

$MSFT$SONY$TTWO
Wire

Take-Two Interactive Sets June 25 Preorder Date For Grand Theft Auto VI

Take-Two Interactive's (TTWO) Rockstar Games said Thursday pre-orders for its Grand Theft Auto VI video game will start on June 25 for both digital and physical retail locations.Customers can currently place the title on their wish lists through the Sony's (SONY) PlayStation and Microsoft's (MSFT) Xbox storefronts, according to a statement.Shares of the company were up 3.6% in Thursday trading.Price: $236.76, Change: $+8.73, Percent Change: +3.83%

$MSFT$SONY$TTWO
Asia Markets

US Equity Futures Rise Pre-Bell as Oil Prices Drop Amid Optimism on US-Iran Peace Deal

US equity futures were higher pre-bell Tuesday as oil prices receded on optimism that a US-Iran peace agreement could happen soon.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.8% higher.West Texas Intermediate crude oil dropped to below $90 a barrel as President Donald Trump said in a CNBC report that a deal to end the Middle East war could be reached in "two to three days," with the Strait of Hormuz reopening "immediately" after the agreement is signed. The two countries are nearing a deal "that will not in any way allow nuclear weapons," Trump said, according to the report.Front-month global benchmark North Sea Brent crude was down 1.5% to $92.85 per barrel and US West Texas Intermediate crude 2.1% lower at $89.39 per barrel.The US international trade deficit narrowed to $55.88 billion in April from the downwardly revised $56.59 billion gap in March, compared with a $56.1 billion gap expected in a survey compiled by Bloomberg.The existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 1.1% for May after a gain of 0.2% in the prior month.In other world markets, Japan's Nikkei closed 2.2% higher, Hong Kong's Hang Seng ended 0.4% lower, and China's Shanghai Composite finished 1.3% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, Meta Platforms (META) stock was up 1% after a Reuters report that a probe on the use of AI tools on its messaging service WhatsApp was stopped by Italy's competition authority due to jurisdictional overlap with European Union regulators. Broadcom (AVGO) and Micron Technology (MU) shares rose 1.2% and 4.5%, respectively, as part of a broader rally in the tech sector. J.M. Smucker was up 4.7% after the company posted higher fiscal Q4 adjusted earnings and net sales.On the losing side, SailPoint (SAIL) shares fell more than 12% despite posting higher fiscal Q1 adjusted earnings and revenue. Sony (SONY) stock was down 2.6% after Nikkei Asia reported that the company will release a new flagship version of its Xperia smartphone with AI-enabled camera functions on Thursday.

Dow JonesNasdaq CompositeS&P 500$AVGO$META$MU$SAIL$SJM$SONY
Wire

Sony Expands Home Entertainment Lineup With New BRAVIA TVs, Audio System

Sony (SONY) said Wednesday it is introducing two televisions and a home audio system as part of its "Cinema is Coming Home" strategy.The new TVs, BRAVIA 9 II and BRAVIA 7 II, use the company's RGB Backlight Master Drive Pro technology, which provides better color accuracy and viewing angles.Sony also introduced the BRAVIA Theater Trio, a wireless home theater system designed for ultra-large screens. The system was developed in collaboration with Sony Pictures Entertainment and is aimed at delivering a more immersive home cinema audio experience, the company said.Price: $21.93, Change: $-0.23, Percent Change: -1.06%

$SONY
IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
US Markets

IMAX Potential Suitors Include Netflix, Apple, Wedbush Says

A potential sale of IMAX (IMAX) could attract a number of likely suitors including private equity firms, Netflix (NFLX) and Apple (AAPL), Wedbush Securities said in a Friday note.The premium theater company is exploring a sale, The Wall Street Journal reported Thursday, citing people familiar with the matter. The sale process, however, is still in the early stages, according to the report.IMAX has held "preliminary talks" through intermediaries, although the company hasn't made any official pitches, CNBC reported Thursday, citing a source.Wedbush said IMAX is an attractive asset, pointing to its strong brand and an expanding earnings profile."At roughly $2 billion in enterprise value, a prospective acquirer would be buying one of the most defensible moats in entertainment for what amounts to a rounding error on the balance sheet of any major studio or technology platform," Wedbush analysts including Alicia Reese wrote.PE ownership would avoid a potential platform conflict as there would be no competing interest, Reese said.The conflict-of-interest problem is "meaningfully smaller" in case Netflix acquires IMAX."Netflix's content calendar remains thin enough that purchasing IMAX would not foreclose rival studio access to the format; the conflict-of-interest problem that would constrain regular studio buyers is meaningfully smaller for Netflix," Reese said. "Owning IMAX would also give every major filmmaker Netflix signs a guaranteed premium theatrical showcase as part of the deal, a powerful recruiting tool in a competitive talent marketplace."On the other hand, Apple TV+ is investing "aggressively" in prestige content and has relationships with filmmakers, who could pitch a guaranteed IMAX showcase during their signing conversations, according to the research note.IMAX's current enterprise value is "a rounding error relative to Apple's balance sheet," Wedbush said.Meanwhile, Sony (SONY) has the best strategic narrative of any studio acquirer."It has no streaming platform, making theatrical its primary monetization window in a way that is structurally different from other major studios," Reese said.IMAX's shares were advancing by 15% ahead of market close on Friday.Price: $39.13, Change: $+5.25, Percent Change: +15.50%

$AAPL$IMAX$NFLX$SONY
Wire

Imax's Potential Acquirers Include Private Equity Firms, Netflix, Apple, Sony, Wedbush Says

Imax (IMAX) is an "attractive" asset, and its most likely acquirers include private equity firms, Netflix (NFLX), Apple (AAPL), and Sony (SONY), Wedbush said in a Friday note.Imax is exploring a sale and has approached entertainment companies as potential buyers, the Wall Street Journal reported Thursday.At around $2 billion in enterprise value, Imax is trading below its standalone value and at a deeper discount as a potential acquisition target, the analysts said. They cited the company's well-known global brand, asset-light licensing model, and structurally expanding earnings profile.Private equity would be interested in Imax's free cash flow generation, minimal capital expenditure requirements relative to revenue, and a clear path to operational optimization. Ownership of Imax would also avoid any platform-conflict issue, the analysts said.Netflix ownership would not hamper rival studio access to the format as its content calendar is thin enough that purchasing Imax would not foreclose rival studio access to the format, according to the note.Netflix and Apple would also benefit from Imax becoming a powerful tool to woo major filmmakers, according to the note.Wedbush's rating on the company's stock is outperform with a price target of $46.Price: $38.77, Change: $+4.89, Percent Change: +14.43%

$AAPL$IMAX$NFLX$SONY
Sectors

Sector Update: Tech Stocks Advance Premarket Friday

Technology stocks were advancing premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 3.3% higher.Take-Two Interactive Software (TTWO) stock was up 4.6% after the company reported a narrower fiscal Q4 net loss as revenue increased during the period.Workday (WDAY) shares were up more than 6% after the company reported higher fiscal Q1 non-GAAP net income and revenue.Sony's (SONY) Bungie is planning layoffs tied to the end of development for Destiny 2, Bloomberg reported, citing people familiar with the matter. Shares of Sony were down 1.6% pre-bell.

$SONY$TTWO$WDAY$XLK$XSD
Insider Trading

Sony Group Insider Sold Shares Worth $9,044,000, According to a Recent SEC Filing

Kenichiro Yoshida, Director, on May 18, 2026, sold 400,000 shares in Sony Group (SONY) for $9,044,000. Following the Form 4 filing with the SEC, Yoshida has control over a total of 661,615 common shares of the company, with 661,615 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/313838/000119312526230082/xslF345X05/ownership.xmlPrice: $22.94, Change: $+0.22, Percent Change: +0.99%

$SONY
Insider Trading

Sony Group Insider Sold Shares Worth $395,675, According to a Recent SEC Filing

Tsuyoshi Kodera, Chief Digital Officer (CDO), on May 18, 2026, sold 17,500 shares in Sony Group (SONY) for $395,675. Following the Form 4 filing with the SEC, Kodera has control over a total of 27,553 common shares of the company, with 27,553 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/313838/000119312526230077/xslF345X05/ownership.xmlPrice: $22.91, Change: $+0.20, Percent Change: +0.88%

$SONY
Asia Markets

Tech Stock Sell-Off, Continued Middle East Standoff Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Tuesday as technology stocks suffered losses and the Middle East impasse continued with no end in sight.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.5%, and Nasdaq futures were 0.9% lower.Sell-offs in technology stocks weighed on the broader market. Nvidia (NVDA), slated to report after-bell Wednesday, saw its stock drop 0.8%.President Donald Trump said in a post on Truth Social that he called off a scheduled attack on Iran for Wednesday due to requests from Qatari Emir Tamim bin Hamad Al Thani, Saudi Crown Prince Mohammed bin Salman, and UAE President Mohammed bin Zayed Al Nahyan. The leaders said that "serious negotiations" are underway and a potential deal could be made, according to Trump.Traders noted the latest round of earnings, with Home Depot (HD) posting lower fiscal Q1 adjusted earnings amid higher revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $110.27 per barrel and US West Texas Intermediate crude 1% lower at $103.32 per barrel.Pending home sales for April, scheduled for release at 10 am ET, are expected to be up 1% after a gain of 1.5% in the prior month, according to estimates compiled by Bloomberg.Federal Reserve Philadelphia President Anna Paulson, acting Atlanta President Cheryl Venable and Governor Christopher Waller speak on Tuesday.In other world markets, Japan's Nikkei closed 0.4% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, joining Nvidia in the technology stock sell-off were chip firms Taiwan Semiconductor (TSM), Broadcom (AVGO), and Micron Technology (MU). Taiwan Semiconductor stock was down 1.5%, Broadcom shares fell 1.4%, and Micron Technology stock was down 1.9%,On the winning side, Sony (SONY) shares were up 2% after the company said in a post on X that it will raise PlayStation Plus subscription prices for new customers in select regions starting Wednesday, citing market conditions. Equinor (EQNR) stock was up 2.3% after the company said it will supply Eneco with natural gas from Norway's continental shelf for a five-year period. Workday (WDAY) shares were up 2.6% following a Reuters report citing the company's India President Sunil Jose as saying Workday intends to sustain its rapid hiring rate in India while increasing artificial intelligence investments and opening additional offices.

Dow JonesNasdaq CompositeS&P 500$AVGO$EQNR$HD$MU$NVDA$SONY$TSM$WDAY

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