This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Take-Two Struggles to Stay in the Game

"Precarious is a pretty accurate word to describe their finances," says Arvind Bhatia, an analyst with Sterne, Agee & Leach. Bhatia has a sell rating on the stock and a price target of $12. Sterne Agee makes a market in Take-Two shares.

The company's situation took a turn for the worse in August when it said it will push back the release of Grand Theft Auto IV from October this year to second quarter fiscal 2008, ending April 30.

That forced Take-Two to reduce its revenue guidance for the financial year to a range of $950 million to $1 billion with a net loss in the range of $2.10 a share to $2.20 a share, including all charges. It had earlier forecast revenue in the range of $1.2 billion to $1.25 billion and break even on earnings, including all charges.

Rosy Forecast

Despite the added financial pressures, analysts say Take-Two can pull through if it can carry out its launch of Grand Theft Auto IV on schedule.

The forecast is rosy for Grand Theft Auto IV. Take-Two could sell 7.5 million to 8.5 million copies in the fiscal year 2008 ending Oct. 31 and 10.5 million to 11.5 million in the first full year, estimates Michael Pachter, an analyst with Wedbush Morgan, which does not own shares of the company or have an investment banking relationship with it.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
THQI $0.31 0.00%
ATVI $23.24 -0.32%
TTWO $26.06 -1.62%
AAPL $129.09 0.49%
FB $79.75 0.99%

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs