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Wire

Top Midday Stories: Futu Receives Investigation Notice, Fine Proposal From Chinese Regulators; Workday Q1 Earnings Top Estimates

All three major US stock indexes were up in late-morning trading Friday, as Wall Street is set to secure a winning week despite high levels of volatility.In company news, Futu Holdings (FUTU) said Friday it has received an investigation notice and a preliminary administrative penalty warning from the Chinese Securities Regulatory Commission regarding its mainland China operations. The agency claims that certain Futu entities have conducted unauthorized securities business, public fund sales business and futures business in mainland China, in violation of several laws, the online brokerage said. Authorities have proposed ordering the cessation of these activities along with a fine of 1.85 billion Chinese Renminbi ($271 million) for Futu and a 1.25 million renminbi personal penalty for Chief Executive Li Hua, Futu said.Workday (WDAY) reported fiscal Q1 non-GAAP net income late Thursday of $2.66 per diluted share, up from $2.23 a year ago and above the FactSet consensus analyst estimate of $2.51. Fiscal Q1 revenue was $2.54 billion, up from $2.24 billion a year ago and above the FactSet consensus of $2.52 billion. For fiscal Q2, the company said it expects subscription revenue of $2.455 billion, compared with the FactSet consensus of $2.45 billion. For fiscal 2027, Workday said it expects subscription revenue of $9.925 billion to $9.950 billion. Analyst expect $9.94 billion.BJ's Wholesale Club (BJ) reported fiscal Q1 adjusted earnings Friday of $1.10 per diluted share, down from $1.14 a year earlier but above the FactSet consensus of $1.03. Fiscal Q1 revenue was $5.66 billion, up from $5.15 billion a year ago and above the FactSet consensus of $5.44 billion. The company said it plans to open new locations in Kentucky, Florida and Indiana.Take-Two Interactive Software (TTWO) reported a fiscal Q4 loss late Thursday of $0.32 per diluted share, narrowing from a loss of $21.08 a year earlier and compared with FactSet consensus estimate of a loss of $0.57. Fiscal Q4 revenue was $1.68 billion, up from $1.58 billion a year ago and above the consensus of $1.55 billion. For fiscal Q1, the company said it expects an EPS loss of $0.23 to $0.15 on revenue of $7.90 billion to $8.10 billion. Analysts expect $2.43 and $9.13 billion, respectively. The company said its highly anticipated game, Grand Theft Auto VI, will be released on Nov. 19.Price: $90.87, Change: $-32.99, Percent Change: -26.63%

$BJ$FUTU$TTWO$WDAY
Wire

Take-Two Interactive Software Sees Portfolio Strength Ahead of GTA VI Launch, Wedbush Says

Take-Two Interactive Software (TTWO) reported a fiscal Q4 beat and confirmed it is on track for Grand Theft VI Auto's Nov. 19 launch, analysts at Wedbush Securities said in a Friday note.The firm said fiscal Q4 net bookings of $1.58 billion topped the high end of guidance, with better-than-expected performance from the GTA series, several mobile titles and the Red Dead Redemption series.Recurring revenue rose 7% year over year and accounted for 82% of net bookings, with strength across GTA Online, NBA 2K26, WWE 2K26 and PGA Tour 2K25.The company's initial fiscal 2027 bookings guidance of $8 billion to $8.2 billion was below Wedbush's expectations of $9.4B, but it views the outlook as intentionally conservative for a major launch year, the analysts said.Wedbush maintained its outperform rating on Take-Two Interactive Software and a $300 price target.Shares of the company were 6.5% lower in Friday trading.Price: $222.26, Change: $-15.82, Percent Change: -6.64%

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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
Sectors

Sector Update: Tech

Technology stocks were advancing premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% higher.Take-Two Interactive Software (TTWO) stock was up more than 5% after the company reported a narrower fiscal Q4 loss as revenue increased during the period.

$TTWO
Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations
US Markets

Stocks Rise Pre-Bell as Investors Monitor US-Iran Negotiations

The benchmark US stock measures were tracking in the green before the open Friday as investors continue to monitor negotiations between the US and Iran to end the Middle East conflict.The S&P 500 edged up 0.1%, the Dow Jones Industrial Average added 0.2% and the Nasdaq was slightly up in premarket activity. The indexes finished the previous trading session higher, with the Dow reaching an all-time peak.US Secretary of State Marco Rubio reportedly said Thursday that there were "good signs" that a peace deal between the two countries is in sight, but warned that any agreement would be "unfeasible" if Iran insists on controlling shipping through the crucial Strait of Hormuz. Iran is discussing setting up a permanent toll system with Oman to formalize its control of the strait, Bloomberg News reported."No one in the world is in favor of a tolling system," Rubio told reporters, according to CNBC. "It can't happen [and] it would be unacceptable."The semi-official Iranian Students' News Agency reportedly said that the latest US proposal to Iran has "narrowed the gaps to some extent" between the two sides, although "further reductions require an end to the temptation for war from Washington."West Texas Intermediate crude oil rose 1.9% to $98.19 a barrel before the open, while Brent increased 2.5% to $105.18."The oil market remains overly sensitive to Iran-related headlines, with participants continuing to pin considerable hope on reports that talks between the US and Iran are progressing," ING Bank said in a report on Thursday.Treasury yields were down in premarket action, with the two-year rate retreating 0.7 basis points to 4.08% and the 10-year rate off 2.4 basis points to 4.56%.Shares of IBM (IBM), GlobalFoundries (GFS) and D-Wave Quantum (QBTS) were up pre-bell after being selected for US government funding under the Trump administration's plan to strengthen the country's position in quantum computing.Ross Stores (ROST) rose 5.3% after the discount retailer lifted its full-year outlook and reported better-than-expected fiscal first-quarter results. Take-Two Interactive Software (TTWO) gained 5.8% as the video game publisher reported a smaller-than-expected fiscal fourth-quarter loss and said it was on track to launch the highly anticipated "Grand Theft Auto VI" on Nov. 19.BJ's Wholesale Club (BJ) and Booz Allen Hamilton (BAH) report their latest financial results before the bell.Friday's economic calendar has the final University of Michigan consumer sentiment report for May at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count posts at 1 pm. Federal Reserve Governor Christopher Waller is scheduled to speak at 10 am.Richmond Fed President Tom Barkin said Thursday that lifting interest rates may not be an appropriate response to curb price pressures."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said in prepared remarks for an event in North Carolina. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent."Gold decreased 0.7% to $4,513 per troy ounce, while bitcoin slipped 0.4% to $77,221.

Dow JonesNasdaq CompositeS&P 500$BAH$BJ$GFS$IBM$QBTS$ROST$TTWO
Wire

Update: Take-Two Interactive Software Shares Rise After Posting Better-Than-Expected Fiscal Q4 Results

(Update to include the stock movement in the headline and first paragraph, and details about the Grand Theft Auto VI launch in the eighth paragraph.)Take-Two Interactive Software (TTWO) shares rose more than 5% in premarket Friday trading after fiscal Q4 results beat analysts' estimates.The company reported fiscal Q4 loss late Thursday of $0.32 per diluted share, narrowing from a loss of $21.08 a year earlier.Analysts polled by FactSet expected a loss of $0.57.Revenue for the quarter ended March 31 rose to $1.68 billion from $1.58 billion a year earlier.Analysts surveyed by FactSet expected $1.55 billion.The company set fiscal Q1 loss guidance of $0.23 to $0.15 per diluted share and revenue guidance of $1.45 billion to $1.50 billion. Analysts expect a loss of $0.40 and revenue of $1.48 billion.The company set full-year fiscal 2027 earnings guidance of $0.55 to $0.75 per diluted share and revenue of $7.90 billion to $8.10 billion. Analysts expect EPS of $2.43 and revenue of $9.13 billion.The company said it expects record operating performance in fiscal 2027, driven by the Nov. 19 launch of Grand Theft Auto VI and continued portfolio execution.Price: $251.62, Change: $+13.54, Percent Change: +5.69%

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Take-Two Posts Smaller-Than-Expected Loss, Affirms 'GTA VI' November Launch Timeline
US Markets

Take-Two Posts Smaller-Than-Expected Loss, Affirms 'GTA VI' November Launch Timeline

Take-Two Interactive Software (TTWO) reported a smaller-than-expected fiscal fourth-quarter loss late Thursday, while the video game publisher said it was on track to launch the highly anticipated "Grand Theft Auto VI" on Nov. 19.Take-Two's loss narrowed to $0.32 per share in the three months ended March from $21.08 the year before, compared with the FactSet-polled consensus calling for a $0.57 loss. Net bookings, which are products and services sold digitally and physically, remained flat year over year at $1.58 billion.Last week, Wedbush Securities expected bookings at the high end of the company's $1.51 billion to $1.56 billion range, saying the metric could exceed the company's own guidance.NBA 2K26, Grand Theft Auto Online, Grand Theft Auto V and Toon Blast were among the largest contributors to net bookings, Take-Two said. Overall revenue increased to $1.68 billion in the March quarter from $1.58 billion a year ago.GTA VI's launch date was a key investor focus heading into the print. Originally scheduled to come out in 2025, Take-Two's Rockstar Games delayed the release of this iconic series first to May 26 this year and then to Nov. 19.Take-Two said Thursday GTA VI is set to be launched on Nov. 19. It will be available on PlayStation 5 and Xbox series X/S."We believe Fiscal 2027 will establish new record levels of operating performance driven by the November 19th launch of Grand Theft Auto VI, along with strong execution across our portfolio," Take-Two Chief Executive Strauss Zelnick said in a statement.The company's stock rose 6.2% in after-hours trading. It is down 7% this year through Thursday's close.Oppenheimer expects GTA VI to contribute $3.45 in non-GAAP EPS in fiscal 2027, assuming 40 million units are sold at a $70 base price. However, buyside estimates indicate that more than 50 million units may be sold, analyst Martin Yang said in a research note published earlier this week.An incremental 10 million GTA VI sales would add $1 to 2027 estimates, Yang said. "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," according to the report.For fiscal 2027, Take-Two expects net bookings in a range of $8 billion to $8.20 billion. That compares with 19% growth to $6.72 billion in the year just ended.EPS for the full year is pegged at $0.55 to $0.75, swinging from a loss annually. The consensus on FactSet is for GAAP EPS of $2.43. The company expects revenue between $7.90 billion and $8.10 billion.Bookings are projected to come in between $1.32 billion and $1.37 billion for the three-month period ending June 30, Take-Two said. The company anticipates a net loss of $0.15 to $0.23 and revenue between $1.45 billion and $1.50 billion. Analysts polled by FactSet expect a first-quarter loss of $0.40 per share.

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Research

Research Alert: Take Two Interactive Reports Solid Q4 Fy 26 Results, All Eyes On Gta Vi Launch

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Take-Two delivered Q4 FY 26 results with net bookings of $1.58B (flat Y/Y) meeting guidance, while full-year bookings of $6.72B (+19% Y/Y) exceeded expectations. GAAP revenue of $1.68B (+6% Y/Y) in Q4 and $6.66B (+18% Y/Y) for the full year reflected broad-based portfolio strength, with net loss narrowing dramatically due to absence of prior-year goodwill impairments. We believe the company's live services model demonstrates durability, with recurrent consumer spending expanding 7% in Q4 and 17% for the full year, now representing 82% and 78% of total bookings. Management highlighted the November 19 GTA VI launch as a key catalyst, with marketing beginning this summer. We expect continued momentum from NBA 2K26, GTA Online, and mobile titles including Toon Blast and Match Factory!, while the strengthened cash position of nearly $2.0B provides substantial flexibility. Mobile's 52% share of Q4 bookings and growing direct-to-consumer channels support margin expansion, in our view.

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Wire

Earnings Flash (TTWO) Take-Two Interactive Software Posts Fiscal Q4 Per Share Loss -$0.32, vs. FactSet Est of $-0.57 Loss

Earnings Flash (TTWO) Take-Two Interactive Software Posts Fiscal Q4 Per Share Loss -$0.32, vs. FactSet Est of $-0.57 Loss

$TTWO
Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments
US Markets

Equity Markets Rise Intraday, Oil Falls as Traders Monitor Middle East Developments

US equity markets edged higher intraday and oil prices declined as traders tracked the latest on the Iran war, while technology bellwether Nvidia's (NVDA) shares slipped despite reporting stronger-than-expected first-quarter revenue.The Dow Jones Industrial Average was up 0.5% at 50,256.6 after midday Thursday, while the Nasdaq Composite rose 0.3% to 26,345. The S&P 500 added 0.3% to 7,453.4. Most sectors were in the green, led by consumer discretionary, while consumer staples saw the biggest drop.West Texas Intermediate crude oil was down 2.4% at $95.92 a barrel intraday, while Brent fell 2.5% to $102.39.Iran's Supreme Leader, Ayatollah Mojtaba Khamenei, has issued a directive that the country's uranium should remain within the country, Reuters reported Thursday, citing two senior Iranian sources.President Donald Trump reportedly said Thursday that the US will eventually recover Iran's stockpile of highly enriched uranium. Retrieving the uranium is a key objective of Trump's war on Iran.Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backed out, according to several media outlets.Iran is discussing setting up a permanent toll system with Oman to formalize its control of the Strait of Hormuz, Bloomberg News reported Thursday.Treasury yields were mixed intraday, with the two-year rate up 2.4 basis points at 4.09% and the 10-year yield rate little changed at 4.59%.Shares of Nvidia (NVDA) fell 1.2% intraday, among the worst performers on the Dow.The chipmaking giant late Wednesday reported fiscal first-quarter revenue above Wall Street's estimates as data center sales outperformed expectations amid an artificial intelligence boom.For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%. The consensus indicated $87.29 billion."Nvidia has become so important that good is not enough," Saxo Bank said in a report. "Investors want proof that the cycle extends into 2027 and beyond, that margins can stay high, and that customers are not simply ordering ahead before the next chip transition."Walmart (WMT) shares were down 6.9%, the steepest decline on the Dow and second-biggest on the S&P 500. The retail giant issued a fiscal second-quarter earnings outlook below market estimates, while it reported better-than-expected revenue in the previous three-month period.Intuit's (INTU) stock plunged 20% intraday, the worst performer on the S&P 500. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.Deere's (DE) fiscal second-quarter results exceeded analysts' expectations, while the company on Thursday affirmed its soft full-year earnings outlook amid continued pressure in global agricultural markets. The stock was 4.6% lower intraday, among the worst performers on the S&P 500.Lifting interest rates may not be an appropriate response from the Federal Reserve to curb price pressures, Richmond Fed President Tom Barkin said in prepared remarks for an event in North Carolina."Raising rates to weaken demand doesn't address the root cause behind supply shock-driven inflation. It doesn't free up trade routes, reopen factories or melt ice," he said. "That said, I've been asking myself whether we've entered an era where supply shocks will become more frequent.""With inflation above our 2% target for over five years now, it's worth asking whether the cumulative impact of so many waves risks loosening the anchor."Fed officials at their April policy meeting flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the meeting showed on Wednesday.Ross Stores (ROST), Take-Two Interactive Software (TTWO), and Workday (WDAY) are among companies scheduled to release their earnings after the markets close.Gold was up 0.2% at $4,545.90 per troy ounce, while silver rose 1.1% to $77.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$DE$INTU$NVDA$ROST$TTWO$WDAY$WMT
Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings
US Markets

Stocks Down Pre-Bell as Traders Monitor US-Iran Developments, Parse Nvidia Earnings

US equity markets were trending lower before the opening bell Thursday as traders monitor the latest developments in the US-Iran conflict and digest tech bellwether Nvidia's (NVDA) quarterly earnings.The S&P 500 fell 0.4% and the Dow Jones Industrial Average slipped 0.3% in premarket activity, while the Nasdaq was down 0.5%. The indexes finished the previous trading session higher, with the Nasdaq and S&P 500 snapping a three-day losing streak.Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Thursday that Tehran is reviewing the latest US proposal to end the war in the Middle East, CNBC reported, citing state-run agency Nour News.President Donald Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to several media outlets. "We'll either have a deal or we're going to do some things that are a little bit nasty," Trump said, according to a Bloomberg News report. "But hopefully that won't happen."Earlier on Wednesday, Iran's Islamic Revolutionary Guard Corps reportedly said that it would retaliate beyond the Middle East if the US or Israel resumed their military attacks against the country.West Texas Intermediate crude oil slipped 0.2% to $98.01 a barrel before the open, while Brent decreased 0.6% to $104.42.Shares of Nvidia (NVDA) slipped 0.2% pre-bell after the chipmaking giant reported fiscal first-quarter revenue above Wall Street's estimates, as data center sales outperformed expectations amid an artificial intelligence boom. For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%.Intuit's (INTU) stock dropped 14% after the financial technology platform reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%. Urban Outfitters (URBN) declined 1.4% after its financial results.Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed on Wednesday.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated. However, majority of Fed officials pointed out that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%."Treasury yields were rising before the open, with the two-year rate gaining 6.6 basis points to 4.1% and the 10-year rate adding 5.1 basis points to 4.62%.Thursday's economic calendar has the housing starts and permits report for April at 8:30 am ET, along with the weekly jobless claims bulletin and the Philadelphia Fed manufacturing index for May. The S&P Global's (SPGI) flash purchasing managers' index for May is out at 9:45 am, followed by the Kansas City Fed manufacturing index for the same month at 11 am.Richmond Fed President Thomas Barkin is scheduled to speak at 12:20 pm.Walmart (WMT), Deere (DE), NetEase (NTES), Williams-Sonoma (WSM), Ralph Lauren (RL), Nio (NIO) and Advance Auto Parts (AAP) report their latest financial results before the bell, among others. Ross Stores (ROST), Take-Two Interactive Software (TTWO), Workday (WDAY), Zoom Communications (ZM) and Deckers Outdoor (DECK) release their earnings after the markets close.Gold was down 0.4% at $4,519 per troy ounce, while bitcoin fell 0.3% to $77,255.

Dow JonesNasdaq CompositeS&P 500$AAP$DE$DECK$INTU$NIO$NTES$NVDA$RL$ROST$SPGI$TTWO$URBN$WDAY$WMT$WSM$ZM
Wire

Take-Two Interactive Software Guidance and GTA VI Timing Are Key Focus Ahead of Earnings, Wedbush Says

Take-Two Interactive Software (TTWO) is heading into a key "go/no-go" earnings moment, with investor attention set to center on fiscal guidance and confirmation of the Grand Theft Auto VI release schedule ahead of the May 21 call, Wedbush Securities said in a Friday note.The analyst said the update will be critical in determining whether GTA VI remains on track for its Nov. 19 launch, noting Rockstar's historical tendency to signal major delays roughly six months in advance, making this call a pivotal checkpoint for expectations.Wedbush expects fiscal Q4 results to come in at the high end of guidance, modeling net bookings of about $1.56 billion versus guidance of $1.51 to $1.56 billion and earnings per share of $0.56 at the top of the $0.46 to $0.56 range, supported in part by strength in mobile gaming, according to the report.Looking ahead, Wedbush said fiscal 2027 guidance will be the most important driver of sentiment, with estimates at roughly $9.40 billion in bookings and $6.40 in EPS versus consensus of about $9.33 billion and $7.97, as investors look for clarity on GTA VI scale, mobile momentum, and the timing of launch contributions.Wedbush maintained its outperform rating on the stock with a price target of $300.Price: $243.11, Change: $+0.70, Percent Change: +0.29%

$TTWO
Take-Two GTA Release Date to Be Investor Focus at Upcoming Earnings Call, Wedbush Says
US Markets

Take-Two GTA Release Date to Be Investor Focus at Upcoming Earnings Call, Wedbush Says

Take-Two Interactive Software's (TTWO) potential update on the "Grand Theft Auto VI" launch date will be a key focus for investors at the video game maker's upcoming earnings call, Wedbush Securities said Friday.The company is scheduled to release its financial results on May 21, with a conference call scheduled on the same day."The call itself is what matters," Wedbush analysts, including Alicia Reese, wrote in a client note. "This is the moment investors will know whether GTA VI is still on track for its Nov. 19 release."In November last year, Take-Two Interactive and its subsidiary, Rockstar, announced a further delay to the game, setting the release date at Nov. 19 this year.In February, the brokerage said there was a 75% probability that Take-Two will launch GTA VI in November, although its Rockstar subsidiary has a history of announcing major delays about six months ahead of the release. "If management doesn't push the date on this call, we move our odds to (greater than 90%) that November holds," Reese wrote on Friday.Wedbush cited a leaked email from electronics retailer Best Buy (BBY) sent to its affiliate marketing partners that pre-orders for GTA VI could go live at any point next week. The exact dates could still change, while Rockstar could push the trailer and pre-order release by a week or two to "retake control of the announcement," the brokerage said."In either scenario, we'd expect a new trailer and pre-order announcement within the month," Reese said.Wedbush estimates Take-Two to report fourth-quarter bookings of $1.56 billion, at the high end of the company's outlook range, with a chance to exceed expectations due to strength in mobile.Wedbush maintained its outperform rating on Take-Two's stock and 12-month price target of $300.Price: $243.19, Change: $+0.78, Percent Change: +0.32%

$BBY$TTWO
Wire

Take-Two Interactive's Rockstar Games Reportedly Hacked for Second Time in Three Years

Take-Two Interactive Software's (TTWO) Rockstar Games has been the target of a cyberattack for the second time in three years, multiple media outlets reported Monday.Hacker group ShinyHunters has taken responsibility for the attack and demanded a ransom, or else it would publish stolen material online, according to the reports.Rockstar Games has downplayed the incident, stating that the attack "has no impact on our organization or our players," the reports said.The company did not immediately reply to a request for comment from.Price: $201.40, Change: $+4.33, Percent Change: +2.20%

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