
The G20 summit took place in Bali, Indonesia, on November 2022…
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Activision Blizzard, the developer, and publisher of interactive entertainment content and services will present its earnings report for the second quarter on August 3 after the stock market closes at 23:00 MT. The release will be followed by an investor conference call at 23:30 MT, August 3.
Activision Blizzard faced a scandal last week that had a negative effect on the company’s workflow and reputation. The unrest was caused by the company’s staff as women complained about drunken harassment by male colleagues or supervisors, the culture of ignoring complaints and retaliation, and the widespread discrimination in areas such as equal pay and promotion opportunities. The stock fall by 9%. It is a pretty solid reaction to that kind of news. The company’s management promised to solve this problem, so investors might feel positive about the future.
Game companies face low growth expectations this year as they showed incredible growth during the pandemic. For Q2, Activision Blizzard expects bookings to be $1.85 billion, down from $2.08 billion in Q2 2020. Call of Duty faces a difficult year-over-year comparison, as last year's launch of Warzone led to strong crossover sales of Call of Duty: Modern Warfare.
At the Q1 conference call management informed investors about the company’s plans. It was planned to increase marketing costs in Q2 and this will pressure operating earnings.
Another fact which disturbs investors is Take-Two interactive software earnings announcement. After the company presented its Q2 earnings report, the stock price dropped by 4% on the post-market since revenue fell by 2% and sales dropped by 4% compared with the same period of 2020.
On the other hand, Activision raises revenue forecasts as of late, which usually tells about upcoming earnings growth. After all, when analysts raise estimates right before earnings, they give traders and investors the most up-to-date information possible, so that they can catch some favorable trends.
Daily chart
At the moment, the ATVI stock is trading above the $83 support. RSI oscillator locates below 30, which might be the bullish signal. If Activision Blizzard presents a strong report, the price will fly to $90. Otherwise, it might drop down to $76, which will be the perfect level to think about long trades.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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