Diamonds and Dogs
Take-Two Interactive (TTWO) is taking the top spot in the markets. The video game maker initially sold off last night on the announcement that a sequel to one of their popular video games wouldn't be available until next spring. However, today the stock is up 5% following better than expected earnings. Earnings blew out expectations while revenue rose 52% to $571 million. The company also raised guidance for the current quarter. Take-Two has been on a roll nearly doubling in the last year.
Autozone (AZO) missing the mark. The auto parts retailer is down 10%, its biggest one day decline, following disappointing earnings. Earnings came in well below expectations while sales missed as well. Revenue only grew 1% year over year to $2.62 billion. One analyst said they have been sufficiently patient with AutoZone, but the poor quarterly results can no longer support a strong buy rating. The company has now missed profit expectations for two straight quarters while same-store sales have missed for five straight quarters.
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