Activision Blizzard May Cut Hundreds of Staff This Week


Activision employed an entire team full of Destiny support staff-PR, marketing, social media, business, and so on-who now have no work. Shares of ATVI moved with change of -8.6% to its 50-day Moving average.

The price target set for the stock is $63.67. The stock was given Buy rating by The Benchmark Company in its report released on January 11th, 2019, the day when the price target on the stock was placed at $87. We compared the recent price movement of ATVI with 20 SMA we see that stock price is trading lower from the 20 SMA. (NASDAQ:ATVI) earned "Overweight" rating by JP Morgan on Thursday, December 6. The average price target of $59.89 calls for a almost 37.96% increase in the stock price. Activision Blizzard has a 52-week low of $42.53 and a 52-week high of $84.68. A look at the stock's other technical shows that its 14-day RSI now stands at 32.88. 19,255,366 shares of the company's stock were exchanged, compared to its average volume of 11,717,568.

More news: Thousands march in Madrid calling for Prime Minister to stand down
More news: Meghan Markle's father shares the letter she wrote him after her wedding
More news: US team in Beijing for trade talks

Activision Blizzard has under-performed recently, leading them to go through a restructuring process in addition to cutting costs where they can. "At the time, Activision and Blizzard staff told me they expected the axe to fall in February, and I started hearing more and more rumors earlier this week, with whispers suggesting that the layoffs would happen ahead of the publisher's quarterly earnings call, which is on Tuesday, February 12". Revenue for the recent quarter stood at $1.66 billion, down -13% on previous year and below the $1.66 billion predicted by analysts. The firm's revenue was down 12.6% compared to the same quarter past year. Compared to the same quarter a year ago, the firm's revenue was up by 21.15%. (NYSE:COTY) is now rated as Neutral. Even though the stock has been trading at $9.33/share, analysts expect it to surge higher by 3.54% to reach $9.27/share. During the trading period, the first transaction completed was recorded at $108.42 per share, which has gone up by 1.36% by closing bell when the final transaction of the day was recorded at 106.81. The stock has a market capitalization of $33.54 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.59 and a beta of 0.92.

Through the past nine calendar days, The Hershey Company (NYSE: HSY) stock was recorded as generating a Historic Volatility of 10.56%. Looking further, the stock has raised 11.55% over the past 90 days while it lost -22.16% over the last six months. Ipswich Investment Management Co. (NASDAQ:ATVI). Amer Natl Ins Com Tx reported 0.38% of its capital in Activision Blizzard, Inc. The firm sold -469,685 shares during the quarter which decreased its stakes to 20,479,681 shares and is now valued at $134,346,707.