Wednesday, May 23, 2012

Take-Two (Nasdaq: TTWO) shares jump as analysts see GTA window

Take-Two (Nasdaq: TTWO) shares jump as analysts see GTA windowOrlando, FL 5/23/12 (StreetBeat) -- Take-Two Interactive Software Inc. (Nasdaq: TTWO +8.15%) saw its shares jump 7.8% to $12.02 on Wednesday morning. The videogame publisher reported a wider-than-expected loss for its fourth fiscal quarter late Tuesday, along with a forecast for the current period that was below Wall Street's expectations. Analysts, however, cued in to the expected release of "Grand Theft Auto V," which many now expect to take place in March of 2013 -- the tail end of the company's fiscal year.”

Although management did not provide a release date or window for GTA V, its Fiscal '13 revenue guidance is unattainable without a huge seller from Rockstar," wrote Michael Pachter of Wedbush Securities, referring to the develepment studio behind the GTA franchise.

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