Activision Blizzard lays off 800 employees after record revenue in 2018

13 February, 2019, 05:00 | Author: Brooke Harris
  • Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis

According to various reports, an employee who asked to remain anonymous revealed that the company will be going through a restructure to centralise functions and boost profits. So far this year, the volume has averaged about 12,817,222 shares. The Average True Range for this company's stock is now 1.92, and its current Beta is sitting at 0.97. A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. Activision Blizzard (NASDAQ:ATVI)'s price sits -15.28% off from its SMA 50 of $46.67 and -39.33% away from the SMA 200 which is at $61.96.

The ABR is the calculated average of the actual recommendations (strong buy, hold, sell etc.) made by the brokerage firms for the given stock. Two sources familiar with the matter tell Yahoo Finance that Activision Blizzard initiated employee layoffs in its Santa Monica headquarters on Monday, although it's unclear how widespread the layoffs are at this time. The Stock price down move to its 20 SMA, getting attention form Day Traders as 20-SMA is the last stop on the bus for short-term traders. The company has a consensus rating of Buy and an average price target of $66.68. This is the price at which the trader or investor wants to exit his existing position so he can realize the most reward. Compared to others, Activision Blizzard, Inc.is in a different league with regards to profitability, having net margins of 8.1%. ATVI's ROE is 5.7%, which is also considerably worse than the industry's ROE of 20.34%. The stock has a debt/capital of 0.25. Icon Advisers Comm has invested 0.09% of its capital in Activision Blizzard, Inc.

Despite the changes, analysts are forecasting the company's sales to decline by about 2% from US$7.48 billion (~RM30.46 billion) to US$7.28 billion (~RM29.98 billion). First Advsr Ltd Partnership stated it has 0.12% in Activision Blizzard, Inc.

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Activision reported a net income of $650 million, or 84 cents per share in the fourth quarter ended December 31, compared to a loss of $584 million, or 77 cents per share, a year earlier when it recorded a charge related to US tax laws. 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.

Last year, Blizzard also abruptly ended the esports program for Heroes Of The Storm, one of the company's least financially succesful games. Moving on to look at the price, the movement in the past 5 days was +3.64, while this stock's price moved +2.28% higher in the past 100 days.

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