Game companies prep for holidays
FROM VARIETY: Activision Blizzard perseveres, THQ dips
By Ben Fritz of Variety -- Video Business, 11/6/2008
NOV. 6 | FROM VARIETY: Recently merged vidgame giant Activision Blizzard expressed cautious optimism that it can keep performing during the economic slowdown, while smaller competitor THQ announced a major restructuring as its losses exploded.Activision Blizzard also unveiled a $1 billion share repurchasing program in an effort to revive its beleaguered stock, which has fallen more than 30% since the merger of Activision and Vivendi Games in July despite a continued solid perf by the company. Investors seemed happy with the earnings news, though, as shares rose 10% in after-hours trading.
THQ stock, meanwhile, was down 16% after hours following a 15% drop Tuesday when news of layoffs first leaked.
Read the full story on Variety.com.
