Electronic Arts Snaps Back From Lows - TheStreet


NEW YORK (TheStreet) -- Shares of Electronic Arts( ERTS) have jumped 3.5% to $15.74, as the tech market rebounds.

Electronic Arts stock is outperforming the NASDAQ Thursday morning.

Broadpoint AmTech analyst Benjamin Schachter says Electronic Arts and other companies are just bouncing off recent lows.

"It's really just a snap back from the market," Schachter explains. "The shares have taken a real beating recently," analyst Mike Hickey of Janco Partners added.

"People are getting geared up and excited for E3, but I don't that's what's driving the movement today," Schachter continued.

The E3 industry conference for companies that publish computer and video games occurs between June 15 and June 17 in Los Angeles next week.

Hickey thinks that the recent good reviews of the

Rock Band 3

game, which is distributed by Electronic Arts, could also have contributed to the share price increase Thursday. Electronic Arts has a distribution deal with

Viacom's

(VIA.B)

MTV Networks.

-- Reported by Andrea Tse in New York

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