Midday update
Take-Two is up 6.80% on an earnings beat as hotter-than-expected October inflation lifts yields and weighs on the broader market.
$TTWO is up 6.80% at midday on an earnings beat, while a hotter-than-expected October CPI print weighs on the broader market.
- Take-Two Interactive is the top gainer in communication services and now carries a $41.6B market cap. Communication services leads the curated sector baskets at +0.33%, with 5 advancers and 4 decliners.
- Fiscal second-quarter adjusted EPS of $1 beat the $0.94 estimate, and revenue of $1.60 billion beat $1.58 billion. Third-quarter bookings guidance came in below Wall Street estimates ahead of the Grand Theft Auto VI launch.
- Breadth is uneven. Banks are up 0.28% with all 6 names higher, led by BAC. Software is down 0.89% with all 4 names lower, and ADBE is off 1.32%. Health care is down 0.87%, with ISRG falling 3.37%.
- October CPI rose 0.4% month over month. That lifted Treasury yields and keeps the Fed on track for a December rate move. Technology is down 1.03%, and NVDA is off 5.19% on heavy trading.
The S&P 500 is down 0.60% and the Nasdaq is down 0.83%. Inflation data is setting the direction of the session, and company-specific results like Take-Two's are among the few names moving against it.
Not financial advice. For informational and educational purposes only.
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