Activision, Take-Two stocks gain after bullish E3 comments from Morgan Stanley

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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    Shares of Activision Blizzard Inc. and Take-Two Interactive Software Inc. are up 2% and 2.4%, respectively, after Morgan Stanley analyst Brian Nowak penned an upbeat note with his thoughts on the E3 convention. On Activision, Nowak highlighted management's "bullish" comments on new mobile games based on Blizzard titles as well as improvements in the company's King advertising business. He was also optimistic about Activision's Overwatch League, an e-sports venture. "We believe OWL has over-delivered on its minimum audiences with Twitch and will generate $120mn in its 2-year contract," Nowak wrote. As for Take-Two, Nowak pointed to management's continued focus on the launch of Red Dead Redemption 2. He sees "room to grow" for the company's NBA2K League. Nowak and his team "favor" Activision and Take-Two to other publishers. Activision's stock is up 34% over the past 12 months, while Take-Two shares have gained 63% and Electronic Arts Inc. shares have risen 32%. The S&P 500 is up 14% in the past year.

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