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Game stocks regain ground in market rally

EA, Activision, THQ, Ubisoft, Sony, and Microsoft partially recover from yesterday's fiscal boot party on Wall Street.


Yesterday was one of the worst days on Wall Street in decades, with markets crashing after the US Congress voted down a $700 billion rescue plan. UK-based newspaper The Daily Telegraph estimated corporate losses as being worth as much as the entire economy of India, with the Dow Jones industrial average shedding 777 points--the biggest one-day point drop in its history.

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Also pummeled was the NASDAQ average, where most game-related stocks are traded. Luckily, when the closing bell rang this afternoon, the NASDAQ Composite Index had climbed 4.97 percent after falling 9.14 percent the day before. The rising tide took many game stocks along with it, with the biggest third-party publisher, Activision Blizzard, getting back $1.31 per share (9.28 percent) of the $2.26 it lost Monday to close at $15.43.

Acti-Blizz's nemesis Electronic Arts also recouped some of the $3.63, or 9.16 percent, that was shaved off of its share price Monday, closing up $0.99 (2.75 percent) at $36.99. Though still far below its asking price back when it was an EA takeover target, Take-Two more than recovered the 4.52 percent ($0.73) cleaved of its stock yesterday, ending the day up $0.97, or 6.29 percent, at $16.40. THQ trimmed its $0.87-per-share slip somewhat by regaining $0.56 (4.88 percent) to close at $12.04.

Though games are just a small part of its business, Xbox 360-maker Microsoft rallied as well, regaining $1.68 (6.72 percent) to reach $26.69 as the NASDAQ closing bell tolled. The day prior, the software giant's worth shrunk 8.72 percent, or $2.39 per share. Unfortunately, over on the New York Stock Exchange, Sony Corp. posted a tiny $0.11 per share gain, barely denting the $1.65-per-share blow it took on the corporate chin at the week's start.

Overseas, yesterday's biggest loser was French publisher Ubisoft, which saw €12.47 ($17.92) lopped off its share price. Today, it bounced back by €7.25 ($10.23) to close at €48.80 ($68.84). Eidos parent SCi Entertainment ended the day up £1.75 ($3.12) at £28.50 ($50.75), blunting the £3.75 ($6.75) wound inflicted on it the day before.

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