Latest news with #TakeTwoInteractive
Reuters
13-06-2025
- Business
- Reuters
NBA, WNBA extend partnerships with 2K video game
June 13 - The NBA and WNBA agreed in principle to terms for a multi-year global partnership expansion with the 2K video game, the leagues announced on Friday. Also, 2K agreed in principle to terms to extend its relationships with the NBA G League and USA Basketball. "NBA 2K has engaged a new generation of basketball fans in an increasingly digital world," NBA commissioner Adam Silver said in a statement. "By expanding our partnership and creating NBA Take-Two Media, we look forward to building on the incredible success of the NBA 2K franchise." Strauss Zelnick, chairman and CEO of Take-Two Interactive, said he was happy to continue the partnership with the NBA and National Basketball Players Association (NBPA). "I would like to thank Adam Silver, (NBPA executive director) Andre Iguodala, and all our partners at the NBA and NBPA for their continued support and shared vision to empower NBA 2K to become the premier interactive entertainment basketball franchise," Zelnick said. "We are excited to unveil NBA Take-Two Media and look forward to seeing how it will create an entirely new and multi-faceted NBA experience for our communities." That also applies to the WNBA, which saw its stars first appear in NBA 2K20. "2K is where millions of young fans deepen their interest and fall further in love with the game of basketball. That's why this partnership is so important," WNBA commissioner Cathy Engelbert said. "As the WNBA continues to reach new milestones on the court and across fandom, our presence in NBA 2K ensures that our league and athletes are visible, celebrated, and inspiring the next generation of WNBA fans around the world." Terri Carmichael Jackson, the executive director of WNBPA, labeled Friday's news as a defining moment for women's basketball. "Our players continue to raise the bar, and this renewed partnership with 2K ensures their impact is felt not just on the court, but across culture, gaming and the global growth of the sport," she said. "This expansion will elevate the entire league and the women who power it. It's also a recognition of the players' business value and their role in driving the future of the game." Boston Celtics forward Jayson Tatum, Las Vegas Aces star A'ja Wilson and the legendary Vince Carter adorned the covers of the NBA 2K25 series of video games. Tatum was on the cover of the standard edition, Wilson represented the game's WNBA version and Carter served as the face of the Hall of Fame edition. --Field Level Media
The Verge
12-06-2025
- Entertainment
- The Verge
Posted Jun 11, 2025 at 3:20 PM EDT
The video game voice actor strike will end soon. As of 3 PM PT today, SAG-AFTRA will officially suspend the strike against the signatory companies of the interactive media agreement. With this suspension, the nearly year-long voice performer strike against video game companies including Take-Two Interactive, Activision Publishing and more will be tentatively over. While the details of the agreement are not yet public, the 10-month strike started over disagreements regarding AI protections for voice and motion performers.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
Intuit and Hyatt Hotels have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release Chicago, IL – June 2, 2025 – Zacks Equity Research shares Intuit Inc. INTU as the Bull of the Day and Hyatt Hotels Corp. H as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Take-Two Interactive TTWO, Electronic Arts EA and Microsoft MSFT. Here is a synopsis of all five stocks. Bull of the Day: Intuit Inc. stock soared to all-time highs after the TurboTax owner posted a big beat-and-raise quarter on May 22, boosted by its expanding artificial intelligence efforts. The technology giant finally broke out of the trading range it had been stuck in since late 2021. Wall Street is increasingly convinced that Intuit's expanding portfolio and AI enhancements will help it keep churning out double-digit sales and earnings growth. Intuit stock has crushed the Tech sector and software standouts such as Microsoft over the past 20 years. The recent surge and breakout should put the mega-cap tech stock back on Wall Street's radar for more near-term upside and continued long-term outperformance. Intuit: Buy This AI-Enhanced Tech Stock and Hold Forever Intuit is one of the biggest players in a corner of the economy that's never going out of style, because there are only two certainties in life: death and taxes. The company's ability to consistently improve and expand its TurboTax software transformed INTU into a technology powerhouse. The company's essential, timeless software offerings have helped it post consistent top-line expansion that's impressive even among its mega-cap tech peers like Microsoft, Apple, and Alphabet. INTU averaged 16% revenue growth over the last decade, alongside roughly 15% average GAAP earnings expansion. Intuit expanded its software portfolio far beyond TurboTax to become a one-stop shop for business and consumer finance, email marketing, and more via Credit Karma, QuickBooks, and Mailchimp. The tech standout boasts roughly 100 million customers across its various businesses. Most importantly, it's ready to fight off any potential new-age challengers by going all in on artificial intelligence. Intuit last summer cemented its AI efforts as it attempts to roll out the next-generation tech into every pocket of its business. INTU said last July that would cut 1,800 jobs (10% of its workforce) and hire roughly 1,800 new people 'primarily in engineering, product, and customer-facing roles' to pursue AI-driven expansion to make sure its ready to thrive in the AI-everything age. Intuit's Blockbuster, AI-Boosted Quarter and Growth Outlook Intuit posted beat-and-raise third quarter fiscal 2025 results (period ended on April 30) on May 22. Its revenue climbed 15% to help boost its adjusted earnings by 18% and improve its GAAP EPS by 19%. Digging deeper, the firm expanded its Consumer Group revenue by 11%, Global Business Solutions Group sales by 19%, and Credit Karma revenue by 31%. Intuit's AI-powered TurboTax Live is an assisted tax preparation service that combines human experts with automation. The segment saw its revenue skyrocket 47% to $2 billion, representing 40% of total Consumer Group revenue. The massive growth reflects rising consumer demand for hybrid tax solutions, where AI streamlines processes (data entry, calculations, and more) and human experts provide personalized guidance. The offering appeals to users looking for convenience over traditional in-person services offered by the likes of H&R Block and CPAs. AI-powered innovations and personalized offerings spurred growth across the portfolio. 'We're redefining what's possible with AI by becoming a one-stop shop of AI-agents and AI-enabled human experts to fuel the success of consumers and small and mid-market businesses,' CEO Sasan Goodarzi said in prepared remarks. 'We had an outstanding year in tax, including a significant acceleration in TurboTax Live revenue growth as we disrupt the assisted tax category.' INTU is projected to boost its revenue by 15% in FY25 (up from its previous 12% guidance) and expand sales by 12% in FY26 to $20.96 billion. The company is expected to boost its adjusted earnings by 18% in fiscal 2025, up from the 13% outlook before its recent release, and then post 14% growth next year. INTU's upbeat earnings outlook earns it a Zacks Rank #1 (Strong Buy), and it has topped our bottom-line estimates in 19 out of the past 20 quarters. Traders and Investors Should Buy this Tech Stock Intuit tanked in 2022 alongside the market and growth-heavy tech stocks as higher interest rates made its valuation levels harder to swallow. Wall Street was also worried about how AI might disrupt the tax industry. INTU has flipped the narrative on the AI front, and Wall Street remains willing to pay a premium for Intuit because it's growing its earnings in a segment of the economy that's never going out of style. Intuit climbed over 3,300% in the past 20 years to more than quadruple Tech's 725% and double Microsoft's (MSFT) 1,600%. The huge outperformance includes its 80% surge in the past three years and 20% run in 2025, boosted by its post-earnings release surge. Intuit finally broke out meaningfully above its 2021 highs after meeting resistance there throughout 2024. The stock is looking a bit overheated in terms of RSI levels, as are a ton of stocks that have skyrocketed off the market's April lows. Intuit's strong earnings growth outlook helps it trade at a 40% discount to its highs with a 3.3 price/earnings to growth (PEG) ratio. This is worth stressing since INTU's stock price just hit a new record. Traders and long-term investors might want to wait for a pullback before they buy INTU stock. But market timing is difficult, and there's no telling when Intuit might fade since strong stocks that break out of a prolonged holding pattern tend to surge longer than many assume. Bear of the Day: Hyatt Hotels Corp. stock has tumbled 16% in 2025 despite its recent rebound alongside the broader market. Hyatt's bottom-line outlook took a turn for the worse after it offered disappointing guidance on May 1. The global hotel and hospitality icon's earnings outlook has tanked over the last year as it faces a difficult-to-compete against stretch and a quickly changing macroeconomic backdrop. Hyatt: What's Going On with the Hotel Giant Hyatt is a global hospitality powerhouse headquartered in Chicago, managing and franchising over 1,450 hotels and all-inclusive properties in 79 countries across six continents. The company operates under tons of different brands, and it's expanded through acquisitions, including its planned expansion into the Caribbean and Mexico via its planned purchase of Playa Hotels & Resorts N.V. Hyatt has also gone full steam ahead on an asset-light business model. The strategy is to own fewer physical properties to focus on earning money by managing and franchising the hotels and resorts. The company posted booming growth after its Covid downturn despite competition from Airbnb and others. That said, Hyatt is facing slowing growth against a difficult-to-compete stretch and a quickly changing macroeconomic backdrop. Hyatt's consensus fiscal 2025 earnings estimate has dropped from $2.59 a share to $2.00 since it reported its Q1 results on May 1, with its 2026 outlook sliding to $3.14 from $3.91. The recent downward earnings revisions have earned Hyatt a Zacks Rank #5 (Strong Sell). Stay Away from Hyatt Stock for Now? Hyatt's negative post-Q1 revisions are part of a longer-term trend that began in early 2024. That said, the company's long-term outlook likely remains intact, and H stock has crushed its Hotels and Motels segment over the past decade. The question in the near term is should investors buy Hyatt even though its earnings outlook continues to tank. The short answer is that investors and traders should likely stay away from the Hotel giant for now since there are plenty of other stocks and industries thriving amid the current economic environment. Additional content: Take Two Up +24% YTD: Here's Why You Should Stay Away Take-Two Interactive shares have surged 24% year to date (YTD), outperforming the Zacks Consumer Discretionary sector's modest growth of 1%. TTWO's competitors, Electronic Arts and Microsoft -owned Activision Blizzard, have returned 0.4%, 9.2% and 8.5%, respectively, YTD. However, this rally represents a classic bull trap that savvy investors should avoid. The gaming giant's recent performance masks fundamental weaknesses that make it a clear sell candidate heading into 2025. For fiscal 2026, the company expects GAAP net revenues between $5.95 billion and $6.05 billion. The company expects net bookings in the range of $5.9-$6 billion. The Zacks Consensus Estimate for TTWO's fiscal 2026 revenues is pegged at $5.99 billion, indicating growth of 6.1% on a year-over-year basis. The consensus mark for earnings is currently pegged at $3.58 per share, down 51.6% in the past 30 days. Take-Two Interactive Software, Inc. price-consensus-chart | Take-Two Interactive Software, Inc. Quote See the Zacks Earnings Calendar to stay ahead of market-making news. GTA VI Delay Derails Revenue Projections The most damaging blow to Take-Two's investment thesis came with the announcement that Grand Theft Auto VI, originally slated for Fall 2025, has been pushed back to May 26, 2026. This delay effectively removes the company's biggest revenue driver from fiscal 2026, creating a massive hole in near-term earnings expectations. The postponement forces investors to wait an additional year for the franchise's primary monetization opportunity, severely undermining growth prospects. The delay is particularly concerning given that GTA VI represents Take-Two's most significant growth catalyst. With management projecting only modest 5% year-over-year growth for fiscal 2026, the absence of this blockbuster title leaves little room for upside surprises and exposes the company's lack of compelling alternatives. Massive Share Dilution Signals Desperation Take-Two's recent decision to raise more than $1 billion through public stock offerings reeks of financial desperation. The company priced 4.75 million shares at $225 each, with options for underwriters to purchase additional shares worth $150 million. This massive dilution comes at a time when the stock is trading near multi-year highs, suggesting management lacks confidence in maintaining current valuations. The timing of this capital raise, coinciding with GTA VI's delay, indicates potential cash flow concerns that aren't immediately apparent in the company's optimistic guidance. Investors should question why a supposedly healthy company needs to dilute shareholders so aggressively. Deteriorating Financial Metrics Raise Red Flags Take-Two's fiscal 2025 results reveal troubling underlying trends. Operating expenses skyrocketed 44% to $4.6 billion, driven by a staggering $3.6 billion impairment charge related to goodwill and acquired intangible assets. This massive write-down suggests previous acquisitions, particularly the $12.7 billion Zynga purchase, have failed to deliver expected returns. More concerning is management's projection that recurrent consumer spending will remain flat in fiscal 2026, with expected declines in mobile gaming and Grand Theft Auto Online revenues. These are the company's highest-margin business segments, and their deterioration signals structural challenges in maintaining profitability. Dangerous Over-Reliance on Aging Franchises Take-Two's revenue concentration in a handful of aging franchises creates significant downside risk. The company expects roughly 45% of fiscal 2026 net bookings to come from Zynga's mobile titles, 39% from 2K properties, and only 16% from Rockstar Games. This heavy dependence on mobile gaming, which is experiencing declining revenues, exposes investors to sector-wide headwinds. With limited new intellectual property in development and increasing competition from emerging gaming platforms, Take-Two lacks the diversification necessary to weather industry disruptions. The company's pipeline appears insufficient to offset declining performance from core franchises. Verdict: Sell Before Reality Sets In Take-Two's 24% year-to-date surge represents an unsustainable rally built on hype rather than fundamentals. Between GTA VI 's delay, massive share dilution, deteriorating financial metrics, and over-reliance on declining revenue streams, the stock faces multiple headwinds that make it a clear sell. Investors should take profits now before the market recognizes these fundamental weaknesses and reprices the stock accordingly. Currently, TTWO carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Why Haven't You Looked at Zacks' Top Stocks? Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can access their live picks without cost or obligation. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged for information about the performance numbers displayed in this press release. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Hyatt Hotels Corporation (H): Free Stock Analysis Report Take-Two Interactive Software, Inc. (TTWO): Free Stock Analysis Report Intuit Inc. (INTU): Free Stock Analysis Report Electronic Arts Inc. (EA): Free Stock Analysis Report
Globe and Mail
21-05-2025
- Business
- Globe and Mail
Take-Two Interactive: A Closer Look at Its Market Potential
Explore the exciting world of Take-Two Interactive Software (NASDAQ: TTWO) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of April 9, 2025. The video was published on May 21, 2025. Should you invest $1,000 in Take-Two Interactive Software right now? Before you buy stock in Take-Two Interactive Software, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Take-Two Interactive Software wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor 's total average return is975% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
Bloomberg
21-05-2025
- Business
- Bloomberg
Stock Movers: Target, Palo Alto Networks, Take-Two Interactive
On this episode of Stock Movers: - Target (TGT) shares fall after the company cut its sales forecast due to a sharp pullback in spending, tariffs, boycotts, and consumer confidence, with net sales expected to decline by a low single digit this year. - Palo Alto Networks (PANW) shares drop after the infrastructure software company reported its fiscal third-quarter results and gave an outlook that failed to fully ease growth concerns. However, analysts remain broadly positive on its long-term potential. - Take-Two Interactive (TTWO) shares are lower after the company announced plans to sell $1 billion of new stock to investors. The New York-based video-game maker plans to use the proceeds for general corporate purposes, including repayment of debt and future acquisitions, according to a statement Tuesday. The company declined to comment further on the sale.
