NEW YORK (TheStreet) -- Glu Mobile (GLUU) - Get Report stock is spiking by 27.86% to $2.57 on heavy trading volume in late-morning trading on Thursday, as the company has won an exclusive, multi-year gaming partnership with influential pop star Taylor Swift.
The game is slated for release in late-2016.
Glu Mobile, which develops and publishes mobile games, achieved success with the popular "Kim Kardashian: Hollywood" game, and is focused on signing celebrities with massive social media followings.
"Bringing with her over 227 million social followers, I am thrilled to welcome Taylor Swift, an award-winning singer, musician and songwriter, to Glu's family," CEO Niccolo de Masi said in a statement.
Additionally, after yesterday's market close, Glu Mobile separately announced 2015 fourth quarter adjusted earnings of 2 cents per share, beating analysts' estimates for a loss of 3 cents per share.
Revenue was $57.9 million for the quarter, above analysts' expectations for revenue of $50.2 million.
For the fiscal 2016 first quarter, Glu Mobile anticipates a loss between 5 and 6 cents per share on revenue between $46 million and $48 million. This is short of analysts' forecast for a loss of 4 cents per share on revenue of $54.6 million, according to Barron's.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Glu Mobile's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: GLUU
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