Nintendo revised its annual sales estimates for Nintendo's 3DS, estimating they will come in 5.4% lower than previously expected at 17.5 million units. The company lowered its profit forecast for the year ending March 2013 to 6 billion yen ($75 million) from 20 billion yen due to the weakening demand. Nintendo also cut its annual sales forecast to 810 billion yen ($10.1 billion) from 820 billion yen.
Nintendo will be launching is first new game console in years when the Wii U hits U.S. stores on Nov. 18. The Wii U will have a touch-screen tablet controller and its remote, the GamePad, can be used to access social networks like Facebook (FB).
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts