Published: Thu, February 14, 2019
Markets | By Erika Turner

Activision Blizzard to lay off 775 employees

Activision Blizzard to lay off 775 employees

EPS growth in next year is estimated to reach -1.85% while EPS growth estimate for this year is set at -7.00%.

If it can do that, the stock - still down 48% from its 52-week high - should rebound strongly.

Activision's stock rose $1.33, or 3 per cent, to $43 in extended trading after the layoffs were announced. The company held its quarterly financial earnings meeting last night, confirming that revenues are up, but despite that, the company will be shaving off eight percent of its staff. Similarly, the average rating observed 2 months ago was a Strong Buy with the mean numerical rating of 4.57, and the average rating observed 3 months ago was a Strong Buy with a mean numerical rating of 4.45.

Notable Experts have a mean recommendation of 2 on this stock.

The beta factor is 0.88.Volatility shows sense of how far the stock will fall if the market takes a dive and how high stock will rise if the bull starts to climb. State of Tennessee Treasury Department now owns 265,645 shares of the company's stock worth $12,371,000 after purchasing an additional 17,702 shares during the last quarter. In fact, yesterday's earnings call also revealed that Activision-Blizzard would be pouring more assets into the development side of their teams, so it seems like doubling down on active development projects is where the publisher is placing its attention. Goldman Sachs Group assumed coverage on Activision Blizzard in a report on Wednesday, January 30th.

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Under Armour (UAA) and Molson Coors (TAP) will kick things off before the opening bell, while Activision Blizzard (ATVI), Groupon (GRPN), TripAdvisor (TRIP) and Twilio (TWLO) report after market close.

If we reduce the number of employees for better short-term financial results, employee morale will decrease, and I sincerely doubt employees who fear that they may be laid off will be able to develop software titles that could impress people around the world.
Activision Blizzard, Inc.'s latest closing price distance was -34.44% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -8.6% and -7.34% compared with the 20 Day Moving Average. For the past 5 years, The Company's EPS growth has been almost 3.40%.

Activision Blizzard stock opened at $40.11 on Monday.

The short ratio in the company's stock is documented at 1.40 and the short float is around of 2.23%.

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