Activision Blizzard Stock Had Its Worst Day Since 2008. Game Delays Caught Wall Street Off Guard.

Barrons2021-11-04

Activision Blizzard stock had its worst day since November 2008 on Wednesday as Wall Street tempered expectations for the coming quarters. Delays for games Overwatch 2 and Diablo IV caught Wall Street...

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精彩评论

timothy2809
2021-11-05
timothy2809
literally 1 day after buying, it fell. how unlucky.
BlissNHappy
2021-11-04
BlissNHappy
Like it like
Cfgramos
2021-11-04
Cfgramos
Still waiting for Diablo IV…
- AetherC:
  👍
- Eddielkh:
  good
MKTee
2021-11-04
MKTee
Like
- JC12341234:
  good
WeiChongkan
2021-11-04
WeiChongkan
liked
- SKLow:
  pls like,tq
jerryang17
2021-11-04
jerryang17
Oh dear.

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Delays for games Overwatch 2 and Diablo IV caught Wall Street...</p>\n\n<a href=\"https://www.barrons.com/articles/activision-blizzard-stock-worst-day-game-delays-51635971518?mod=hp_LATEST\">网页链接</a>\n\n</div>\n","source":"lsy1601382232898","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Activision Blizzard Stock Had Its Worst Day Since 2008. 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Game Delays Caught Wall Street Off Guard.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-04 15:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/activision-blizzard-stock-worst-day-game-delays-51635971518?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Activision Blizzard stock had its worst day since November 2008 on Wednesday as Wall Street tempered expectations for the coming quarters. Delays for games Overwatch 2 and Diablo IV caught Wall Street...</p>\n\n<a href=\"https://www.barrons.com/articles/activision-blizzard-stock-worst-day-game-delays-51635971518?mod=hp_LATEST\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ATVI","symbol_name":"动视暴雪","start_time":0,"source_url":"https://www.barrons.com/articles/activision-blizzard-stock-worst-day-game-delays-51635971518?mod=hp_LATEST","article_id":"1176588625","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1176588625","pubTimestamp":1636010158,"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"Activision Blizzard stock had its worst day since November 2008 on Wednesday as Wall Street tempered","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ATVI":"动视暴雪"},"translate_title":"动视暴雪股市经历了2008年以来最糟糕的一天。比赛延期让华尔街措手不及。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATVI":0.9},"content_text":"Activision Blizzard stock had its worst day since November 2008 on Wednesday as Wall Street tempered expectations for the coming quarters. Delays for games Overwatch 2 and Diablo IV caught Wall Street off guard.\nThe company (ticker: ATVI) joined a swath of videogame firms that have pushed back the release of key titles amid the pandemic. Activision Blizzard said it’s not planning for material contributions from Diablo IV and Overwatch 2 in 2022.\nShares of the videogame firm fell about 14%, to $66.75, on Wednesday, the stock’s worst single-day percentage drop since it fell 15.6% on Nov. 14, 2008, according to Dow Jones Market Data. The S&P 500 rose 0.6%, and the Nasdaq rose 1% on Wednesday.\nBaird analyst Colin Sebastian titled his Wednesday note “Q3 Recap: Should Have Known Better.”\n“While shares will trade lower embedding the push-out of revenues and earnings, compounding already frayed management credibility, we’d remind investors that it’s not unusual for Blizzard to delay new releases, and that other competing console/PC titles were pushed out at least a year, reflecting work-from-home issues,” Sebastian wrote.\nFor Activision Blizzard, Sebastian notes that the company is also experiencing internal disruptions following months of headlines and complaints from employees about the firm’s workplace culture.\nExecutives said during the company’s earnings call that Jen Oneal, who became Blizzard’s co-leader in August along with Mike Ybarra, plans to depart at the end of the year. The company cited leadership changes when discussing the delays.\nActivision Blizzard is responding to employee concerns that were brought to investors’ attention when the California Department of Fair Employment and Housing filed a civil lawsuit in July. The agency alleged that the company “fostered a pervasive ‘frat boy’ workplace culture.” The firm also disclosed that the Securities and Exchange Commission was looking into disclosures related to workplace issues.\nFollowing an employee walkout, CEO Bobby Kotick recently said he’d cut his salary to the minimum allowed under California law. He also pledged that the company would take actions like investing $250 million toward opportunities for people from under-represented groups and increasing the percentage of women and non-binary people in its workforce by 50% within the next five years.\n“Activision Blizzard is currently under investigation regarding accusations of workplace harassment,” Sebastian wrote, when discussing environmental, social, and governance considerations for the stock. “Clearly this will cast a shadow on the company’s social and governance efforts at least for the nearterm.”\nMKM Partners analyst Eric Handler cut his rating to Neutral from Buy and his price target to $75 from $108 in a note on Wednesday. He pointed to the delays, ongoing personnel turnover, and his belief that not all the bad news is out of the way.\n“With increased uncertainty towards the every-other-year release of a [World of Warcraft] Modern expansion pack and for the various mobile titles currently in development, the 2022 projected growth curve has substantially flattened from our prior view,” Handler wrote.\nWedbush analyst Michael Pachter, who cut his price target to $98 from $125 but maintained an Outperform rating, noted that he suspected Overwatch 2 could slip into 2023 when the game’s previous director Jeff Kaplan left the company in April.\nThe analyst added that for the sequel, players will compete on teams of five, rather than the six in the current Overwatch game—a change that necessitated an overhaul of how the game is played. Still, comments from developers about the game’s progress as recently as two months ago seemingly signaled to Pachter that the game was on track for a 2022 release.\n“We think that Activision’s multi -channel distribution strategy for its games (premium, mobile, free-to-play and ongoing in-game monetization for premium) will ultimately pay large dividends, but the stock price suggests that investors have tired of waiting,” Pachter wrote.\nOppenheimer analyst Martin Yang cut his target to $85 from $100, noting that game delays are among the least challenging issues the company will face in the next year. He points to a leadership vacuum and concerns about talent retention.\n“We believe Blizzard faces the long-term challenges of repairing its brand and attracting new talent, at a time when demand for talent is greater than ever, and funding/infrastructure supporting experienced developers/artists to start their own studios is abundant,” Yang wrote.\nIn the meantime, Yang says investors still have a company with a strong balance sheet and cash flows, and the durable strength of its Call of Duty franchise and its King mobile games segment.\n“While Blizzard has major challenges ahead, it is not a lost cause,” Yang wrote.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":846679669,"gmtCreate":1636081501374,"gmtModify":1636081501477,"author":{"id":"4098931937636480","authorId":"4098931937636480","name":"timothy2809","avatar":"https://static.tigerbbs.com/6078d4b5f87c2d8ac744dca8be06d9ce","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"literally 1 day after buying, it fell. how unlucky.","listText":"literally 1 day after buying, it fell. how unlucky.","text":"literally 1 day after buying, it fell. how unlucky.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846679669","repostId":1176588625,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":848517135,"gmtCreate":1636012293745,"gmtModify":1636012293877,"author":{"id":"3562581214716129","authorId":"3562581214716129","name":"BlissNHappy","avatar":"https://static.tigerbbs.com/57c8ae1247419aff13ee8033c4ac6c63","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like it like","listText":"Like it like","text":"Like it like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848517135","repostId":1176588625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":848531590,"gmtCreate":1636010595236,"gmtModify":1636010595846,"author":{"id":"3577318628836449","authorId":"3577318628836449","name":"Cfgramos","avatar":"https://static.tigerbbs.com/8e4f5dee285970cb0d50c61a4302a33f","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Still waiting for Diablo IV…","listText":"Still waiting for Diablo IV…","text":"Still waiting for Diablo IV…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/848531590","repostId":1176588625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6449762,"gmtCreate":1636011545302,"gmtModify":1636011545393,"authorId":3582258408396089,"author":{"id":3582258408396089,"authorId":3582258408396089,"name":"AetherC","avatar":"https://static.tigerbbs.com/0e9d2b2288d3ec3cb10339c5902876c8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":848531590,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"},{"id":6449593,"gmtCreate":1636010708020,"gmtModify":1636010708051,"authorId":3559888727257208,"author":{"id":3559888727257208,"authorId":3559888727257208,"name":"Eddielkh","avatar":"https://static.tigerbbs.com/8f02256556ae7f7c1567be3df06b2567","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":848531590,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"CN"},{"id":848539342,"gmtCreate":1636010353084,"gmtModify":1636010353628,"author":{"id":"3586653475472296","authorId":"3586653475472296","name":"MKTee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848539342","repostId":1176588625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6449562,"gmtCreate":1636010403064,"gmtModify":1636010403094,"authorId":3576890065678742,"author":{"id":3576890065678742,"authorId":3576890065678742,"name":"JC12341234","avatar":"https://static.tigerbbs.com/7b0a2ed473c0072cb1937345f4736657","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":848539342,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"}],"langContent":"CN"},{"id":848530035,"gmtCreate":1636010287369,"gmtModify":1636010290227,"author":{"id":"3579220123273065","authorId":"3579220123273065","name":"WeiChongkan","avatar":"https://static.tigerbbs.com/db0531db67cf0e08b798e53d62fd9bad","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"liked","listText":"liked","text":"liked","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848530035","repostId":1176588625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6449749,"gmtCreate":1636011510232,"gmtModify":1636011510264,"authorId":3582927789816025,"author":{"id":3582927789816025,"authorId":3582927789816025,"name":"SKLow","avatar":"https://static.tigerbbs.com/b3aeaabd2ee1ec9afcdda5a4aab1994c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":848530035,"type":1,"supId":0,"prevId":0,"content":"pls like,<u>tq</u>","text":"pls like,<u>tq</u>","html":"pls like,<u>tq</u>"}],"langContent":"CN"},{"id":848597777,"gmtCreate":1636010268587,"gmtModify":1636010268764,"author":{"id":"4092410761566010","authorId":"4092410761566010","name":"jerryang17","avatar":"https://static.tigerbbs.com/1eb61373cf0be973dd9dc7f072c54352","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Oh dear.&nbsp;","listText":"Oh dear.&nbsp;","text":"Oh dear.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848597777","repostId":1176588625,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":23,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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