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!

Electronic Arts: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Electronic Arts (ERTS) dipped in late trades on Tuesday after the Redwood City, Calif.-based game developer agreed to acquire privately held PopCap Games, the maker of popular digital titles like Plants vs. Zombies and Bejeweled.

The deal provides an initial consideration of $750 million, which includes $650 million in cash and another $100 million in stock for certain PopCap stakeholders. In addition, there's the potential for cash earnouts totaling $550 million through 2013 if PopCap's operations meet certain milestones related to non-GAAP earnings before interest and taxes.



Electronic Arts expects PopCap to add earnings of at least 10 cents a share to its results by fiscal 2013 on a non-GAAP basis. The deal is anticipated to close in August and be neutral to fiscal 2012 results.

The stock was last quoted at $23.40, down 3.2%, on volume of around 350,000, according to Nasdaq.com. Based on a regular session close at $24.17, the shares were up 48% so far in 2011.

Electronic Arts also narrowed its loss outlook for the first quarter ended in June, and reaffirmed its full-year forecast. Wall Street was split on Electronic Arts ahead of the news with 13 of the 26 analysts bullish (6 at strong buy and 7 at buy), and the remainder split between hold (11), underperform (1), and sell (1).

Commonwealth REIT

Shares of Commonwealth REIT (CWH) fell in extended action after the company announced plans to sell an additional 7.5 million common shares.

The Newton, Mass.-based real estate investment trust plans to use the proceeds of the dilutive offering, which includes an overallotment option for the sale of an additional 1.125 million shares, to pay down debt.

The stock was off 4.4% to $24.28 on volume of around 30,000. Based on Tuesday's regular session close at $25.41, the shares were down less than 1% so far in 2011.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
CWH $25.47 -0.12%
AAPL $123.78 -0.52%
FB $81.34 -1.10%
GOOG $543.13 -0.89%
TSLA $188.50 -0.14%

Markets

DOW 17,678.23 -97.89 -0.55%
S&P 500 2,057.64 -10.25 -0.50%
NASDAQ 4,863.3310 -37.5540 -0.77%

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