Third Point (Dan Loeb) discloses updated portfolio positions in 13F filing

New AMZN OPCH FIS UBER TSM ICE positions, Exited CL NATI

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: AMZN (~4.1 mln shares), OPCH (~3.5 mln), FIS (~0.3 mln), UBER (~2.78 mln), TSM (~2.45 mln), ICE (~1.85 mln), ATVI (~1.65 mln), HZNP (~0.5 mln), NVDA (~0.5 mln), BKI (~0.46 mln)
• Increased positions in: BABA (to ~2.95 mln shares from ~1.33 mln shares), DEN (to ~1.68 mln from ~0.25 mln), VST (to ~3.32 mln from ~2.12 mln), J (to ~1.35 mln from ~0.19 mln), HTZ (to ~7.32 mln from ~6.35 mln), DD (to ~4.6 mln from ~4 mln), MSFT (to ~1.52 mln from ~1.05 mln) MU (to ~1.55 mln from ~1.2 mln), AMD (to ~1.2 mln from ~1 mln) IFF (to ~2.65 mln from ~2.55 mln)
• Maintained positions in: BBWI (~13.85 mln shares), AIG (~2.95 mln shares), FERG (~1.28 mln shares)
• Closed positions in: CL (from ~11.05 mln shares) NATI (from ~2 mln), NPWR (from ~1.5 mln), TECK (from ~1.15 mln), CTLT (from ~0.2 mln), HCNE (from ~0.99 mln), CRM (from ~0.8 mln), UNH (from ~0.34 mln)
• Decreased positions in: PCG (to ~54 mln shares from ~59.25 mln shares), GOOGL (to ~1.43 mln from ~4.75 mln), HCA (to ~0.6 mln from ~0.86 mln), EGGF (to ~0.95 mln from ~1.1 mln), DHR (to ~2.6 mln from ~2.75 mln)

Greenlight Capital (David Einhorn) discloses updated portfolio positions in 13F filing

New FHN SDRL ATVI positions, Exited GPN CIVI

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: FHN (~1.3 mln shares), SDRL (~0.27 mln), ATVI (~0.22 mln), AAP (~0.04 mln), HRI (~0.04 mln), SHC (~0.01 mln)
• Increased positions in: NPWR (to ~2.51 mln shares from ~0.76 mln shares), GPK (to ~1.77 mln from ~1.07 mln), BKI (to ~1.34 mln from ~0.92 mln), CPRI (to ~1.65 mln from ~1.24 mln), SWN (to ~9.23 mln from ~8.92 mln) CEIX (to ~2.85 mln from ~2.72 mln),
• Maintained positions in: GRBK (~16.6 mln shares), BHF (~3.12 mln shares), LIVN (~1.03 mln shares), GLD (~0.23 mln shares), FCNCA (~0.02 mln shares)
• Closed positions in: GPN (from ~0.6 mln shares), CIVI (from ~0.46 mln), PANA (from ~0.28 mln), CNXC (from ~0.21 mln)
• Decreased positions in: KD (to ~4.45 mln shares from ~8.5 mln shares), NBSE (to ~0.14 mln from ~2.73 mln), TECK (to ~1.35 mln from ~2.49 mln), NYCB (to ~1.71 mln from ~2.28 mln), THC (to ~0.93 mln from ~1.43 mln), SLV (to ~1.24 mln from ~1.49 mln), REZI (to ~0.49 mln from ~0.66 mln), WFRD (to ~0.43 mln from ~0.58 mln), ODP (to ~1.52 mln from ~1.63 mln), GPOR (to ~0.22 mln from ~0.28 mln)

This week's biggest % winners & losers : Jan 17 - 21, 2022 (wk 3)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: ZGNX (25.98 +63.09%), MYNZ (27.76 +33.01%), VAXX (8.16 +26.71%), GMVD (4.33 +23.71%), OLK (14.05 +11.77%), ADGI (6.29 +10.35%), BDSI (3.36 +9.8%)
• Industrials: FATH (10.24 +29.78%)
• Consumer Discretionary: GOTU (2.25 +24.31%), GAMB (11.34 +21.94%)
• Information Technology: ATVI (81.35 +24.41%), LLNW (4.24 +21.84%), MGI (8.98 +14.1%)

This week's top % losers

• Consumer Staples: DDL (4.95, -42.64%), MF (3.21 -27.05%)
• Consumer Discretionary: ARVL (4.44 -33.81%), DTC (10.84 -31.95%), RMO (2.19 -29.81%), NKLA (7.3 -27.58%), PLBY (16.17 -26.43%), NFLX (397.5 -24.39%),
• Healthcare: EQRX (4.43 -31.32%), RAPT (21 -29.05%), RBOT (5.13 -27.75%), BNTX (147.5 -24.74%) CVAC (18.73 -23.49%)
• Industrials: SHLS (15.4 -25.53%), SPWR (15.8 -21.65%), FTCI (4.11 -19.88%)

Activision Blizzard (ATVI) to be acquired by Microsoft (MSFT) for $68.7 billion

• Microsoft is acquiring Activision, the troubled publisher of Call of Duty, World of Warcraft, and Diablo. The deal will value Activision at $68.7 billion, far in excess of the $26 billion Microsoft paid to acquire LinkedIn in 2016. It’s Microsoft’s biggest push into gaming, and the company says it will be the “third-largest gaming company by revenue, behind Tencent and Sony” once the deal closes.
• Satya Nadella says the deal ‘will play a key role in the development of metaverse platforms’
• Microsoft’s deal comes after months of sexual harassment claims against Activision Blizzard. Last July, the California Department of Fair Employment and Housing (DFEH) sued Activision Blizzard for promoting a culture of “constant sexual harassment.” More employees have come forward with more allegations of sexual misconduct ever since, and the company reached an $18 million settlement with the US Equal Employment Opportunity Commission in September. 
  

 

 

 

 

Activision Blizzard: Microsoft Corp. (MSFT) confirms plans to acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion 

• Microsoft will acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard's net cash. When the transaction closes, Microsoft will become the world's third-largest gaming company by revenue, behind Tencent and Sony. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like "Warcraft," "Diablo," "Overwatch," "Call of Duty" and "Candy Crush," in addition to global eSports activities through Major League Gaming. The company has studios around the word with nearly 10,000 employees. Bobby Kotick will continue to serve as CEO of Activision Blizzard, and he and his team will maintain their focus on driving efforts to further strengthen the company's culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming.
• The transaction is subject to customary closing conditions and completion of regulatory review and Activision Blizzard's shareholder approval. The deal is expected to close in fiscal year 2023 and will be accretive to non-GAAP earnings per share upon close. The transaction has been approved by the boards of directors of both Microsoft and Activision Blizzard.
• Microsoft Chairman and CEO Satya Nadella; Bobby Kotick, CEO, Activision Blizzard; CEO, Microsoft Gaming, Phil Spencer; and Microsoft Chief Financial Officer Amy Hood will host a webcast for investors and media on Jan. 18, 2022, at 6 a.m. Pacific time/9 a.m. Eastern time regarding this transaction.

-=Activision Blizzard (ATVI) reported earnings on Thur 6 Feb 20 (a/h)

Activision Blizzard beats by $0.32, beats on revs; guides Q1 below consensus; guides FY20 EPS just above consensus, revs just below consensus

Reports Q4 (Dec) earnings of $0.68 per share, $0.32 better than the S&P Capital IQ Consensus of $0.36; revenues fell 4.5% year/year to $2.71 bln vs the $2.68 bln S&P Capital IQ Consensus.

Co issues downside guidance for Q1, sees EPS of $0.55 vs. $0.64 S&P Capital IQ Consensus; sees Q1 revs of $1.275 bln vs. $1.32 bln S&P Capital IQ Consensus.

Co issues mixed guidance for FY20, sees EPS of $1.85 vs. $1.81 S&P Capital IQ Consensus; sees FY20 revs of $6.725 bln vs. $6.92 bln S&P Capital IQ Consensus.

=Activision Blizzard (ATVI) reported earnings on Tue 12 Feb 2019 (a/h)

Activision Blizzard beats by $0.31, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY19 EPS in-line, revs below consensus

• Reports Q4 (Dec) earnings of $0.84 per share, $0.31 better than the S&P Capital IQ Consensus of $0.53; net bookings rose 7.6% year/year to $2.84 bln vs the $3.04 bln S&P Capital IQ Consensus. 
  • For the quarter ended December 31, 2018, Activision Blizzard's net bookings were a record $2.84 billion, compared with $2.64 billion for the fourth quarter of 2017, below prior outlook. Net bookings from digital channels were a record $1.88 billion, as compared with $1.62 billion for the fourth quarter of 2017, and in-game net bookingswere a record of $1.2 billion.
• Co issues downside guidance for Q1, sees EPS of $0.39 vs. $0.73 S&P Capital IQ Consensus; sees Q1 net bookings of $1.18 bln vs. $1.48 bln S&P Capital IQ Consensus.
• Co issues downside guidance for FY19, sees EPS of $1.18 vs. $2.13 S&P Capital IQ Consensus; sees FY19 net bookings of $6.3 bln vs. $7.3 bln S&P Capital IQ Consensus.
• "The number of developers working on Call of Duty, Candy Crush, Overwatch, Warcraft, Hearthstone and Diablo in aggregate will increase approximately 20% over the course of 2019. The company will fund this greater investment by de-prioritizing initiatives that are not meeting expectations and reducing certain non-development and administrative-related costs across the business. The company is also integrating its global and regional sales and go-to-market, partnerships, and sponsorships capabilities. As part of these restructuring actions, the company expects to incur a GAAP-only pre-tax charge of approximately $150 million, the majority of which is expected to be incurred this year."
• Board increases quarterly dividend to $0.37/share from $0.34/share.
• Additionally, the Board of Directors authorized a new two-year stock repurchase program under which the company is authorized to repurchase up to $1.5 billion of its outstanding common stock during the period.

Activision's results follow weak reports from other rival publishers such as Take-Two Interactive Software Inc and Electronic Arts Inc, adding to fears that competition from free-to-play battle royale games "Fortnite" and "PUBG" was eating into sales.

Even as jettisons workers as some of its revenue evaporates, Activision said it will also boost its stockholder dividend by 9 percent from last year to 37 cents per share.

Activision to lay off 800 workers as video game sales drop

SANTA MONICA, Calif. (AP) — Video game maker Activision Blizzard is laying off nearly 800 workers as the company braces for a steep downturn in revenue following the best year in its history.

The cutbacks announced Tuesday illustrate the boom-and-bust cycles in an industry whose fortunes are tied to video games that can have a relatively short lives before players move on to the next craze.

Right now, Epic Games' "Fortnite" is a hot fad that has been siphoning attention — and potential sales — from the titles made by other companies.

Although Activision also still owns popular games such as "Call of Duty" and "Candy Crush," it expects its revenue this year to fall by about 20 percent to $6.03 billion.

Activision will cope trimming 8 percent from its workforce of nearly 10,000 people and assigning more of its remaining employees to work on "Call of Duty," ''Candy Crush," and several other of its most popular titles.

The Santa Monica, California, company had already reshuffled its leadership, even though it profits rose last year by more than five-fold to $1.8 billion. Revenue climbed 7 percent to $7.5 billion, the highest since Activision's inception 40 years ago.

At the same time, Activision Blizzard (NASDAQ: ATVI) will increase the number of developers on key franchises by 20 percent, including “Call of Duty” “CandyCrush,” “Overwatch,” “Warcraft,” “Hearthstone” and “Diablo.”

Earnings this week : Feb. 11 - 15, 2019 (wk 7)

Earnings confirmed to report this week:

Monday (Feb 11)

• Morning: CNA DO GPRE KMPR L MCY MDP MPAA NSP QSR
• Afternoon: AMBR, AMKR ACB BHF BRS BRX BRKR CHGG CMP ROAD DCP ELVT RE FARM FMC RAMP MIME MOH MGI LABL NWE OHI OMF PYX RNG VRNS VECO VNO 

Mon pm/Tue am (vol): https://finviz.com/screener.ashx?v=211&t=AMBR,AMKR,ACB,BHF,BRS,BRX,BRKR,CHGG,CMP,ROAD,DCP,ELVT,RE,FARM,FMC,RAMP,MIME,MOH,MGI,LABL,NWE,OHI,OMF,PYX,RNG,VRNS,VECO,VNO,AYR,ARCC,FIS,HUN,IPGP,JLL,MLM,MDSO,TAP,NNN,NP,NRZ,OMC,ONDK,SABR,SHOP,STE,TOWR,UAA,USFD,WEC,WELL&ta=0&o=-volume

Tuesday (Feb 12)

• Morning: AYR ARCC FIS HUN IPGP JLL MLM MDSO TAP NNN NP NRZ OMC ONDK SABR SHOP STE TOWR UAA USFD WEC WELL 
• Afternoon: ACGL AIZ AKAM AQ ATVI AVLR BFAM BXMT CNO CRAY CSOD DEI DENN EXEL GRPN HUBS IRTC JCOM KRNT LSCC MPWR OXY QLYS QUOT REXR RPAI RRR SHO SPSC TRIP TWLO UDR UIS

Tue pm/Wed am (vol):  https://finviz.com/screener.ashx?v=211&ta=0&o=-volume&t=ACGL,AIZ,AKAM,AQ,ATVI,AVLR,BFAM,BXMT,CNO,CRAY,CSOD,DEI,DENN,EXEL,GRPN,HUBS,IRTC,JCOM,KRNT,LSCC,MPWR,OXY,QLYS,QUOT,REXR,RPAI,RRR,SHO,SPSC,TRIP,TWLO,UDR,UIS,AB,ACCO,BABY,BKI,CAMT,CBM,CBRE,CBZ,CEVA,CFX,CIGI,CIM,CRL,CRTO,CVE,DBD,DISH,ECOM,FLIR,FUN,GLPI,GOLD,GPN,HLT,IPG,IRWD,KELY-A,LAD,LPX,LXFT,NVMI,TECK,TEVA,TMHC,WH

Wednesday (Feb 13)

• Morning: AB ACCO BABY BKI CAMT CBM CBRE CBZ CEVA CFX CIGI CIM CRL CRTO CVE DBD DISH ECOM FLIR FUN GLPI GOLD GPN HLT IPG IRWD KELY.A LAD LPX LXFT NVMI TECK TEVA TMHC WH 
• Afternoon: AIG AKR AMGP ANDE AR ARES ARI ASGN BAND BCOV BKD CF CHEF CPA CRY CSCO CTL CTRE CXP DIOD DVA EQC EQIX FCPT FNF FOSL FR FRT H HCP HR IFF IVC KAI KGC LPI MFC MGM MRO NGVT NLY NPO NTAP NUS OII OIS PGRE PPC PRSP PS PXD QDEL QTWO REG RYAM SKT SLF SNBR SPWR STAG SVMK SWIR TCO TCX TRUP TSE VNDA WCN WMB YELP

Thursday (Feb 14)

• Morning: AAN AEE AER AGIO ALE ALKS ARCH AVP AZN BAM BCOR BGCP BLMN BWA CBB CCEP CME COWN CYBR DGX DNOW DUK EEX EPAM EQM EQT FAF GEO GLOG GNRC GOOS GTLS HII HPP INCY IQV IRM KO LECO MANU MGP MTRN NICE NSIT PATK PBF PBFX PDS POOL PPL R SIX SMI SMP SON STFC STNG THS TPX TRP TRTN TRU TU VMC WLH WM WSO WST YETI ZBRA ZTS
• Afternoon: AEM AIRG AMAT AMN ANET AUY BL CBS CC CGC CGNX CPS CVA ELLI GLOB HTA INVH  LOGM  MERC MRC MX NVDA PDFS RDFN RWT SPXC SSNC TLND TNET TREX TRUE VICI WES WGP WRE XPO 

Friday (Feb 15)

• Morning: ABR AXL CHH CPSI DAN DE TSX:ENB FTS MCO NWL PEP POR SXT TYPE WBC YNDX ZEUS

-=Activision Blizzard (ATVI) ends partnership with game development studio Bungie

Video game publisher Activision Blizzard (ATVI) saw its stock tumble Friday after announcing a split with high-profile game development studio Bungie following an eight-year partnership.

The two companies announced the dissolution of their partnership late Thursday.

Best known for creating the "Halo" game series for Microsoft (MSFT), Bungie made the "Destiny" series of science-fiction shooter games for Activision. Bungie is assuming full publishing rights for the "Destiny" franchise going forward. As a result, Activision does not expect to realize material revenue or earnings from the "Destiny" franchise in 2019.

The breakup could be beneficial to Activision's long-term profitability, Baird analyst Colin Sebastian said in a report to clients. However, it will trim 2% to 3% from Activision's expected revenue in the near term.

Activision (ATVI) reported earnings on Thur 9 Feb 17 (a/h)

** charts before earnings **

** charts after earnings **

 

• Activision sales top Street; Co hikes dividend, sets $1 billion buyback

Videogame publisher Activision Blizzard Inc reported fourth-quarter revenue above analysts' estimates, raised its dividend and announced a two-year $1 billion stock repurchase plan.

The company's shares were up 9.5 percent at $43.50 in extended trading on Thursday.

Activision's total adjusted revenue rose to $2.45 billion in the fourth quarter ended Dec. 31 from $2.12 billion a year earlier.

Analysts on average had expected revenue of $2.35 billion, according to Thomson Reuters I/B/E/S.

Revenue from the company's high-margin digital business doubled to $1.45 billion.

The company's net income rose to $254 million, or 33 cents per share, from $159 million, or 21 cents per share.