Activision Blizzard Falls Midday; Layoffs Reportedly Loom

Activision Blizzard Falls Midday; Layoffs Reportedly Loom  | Feb 11, 2019 11:46AM ET

Activision Blizzard Falls Midday; Layoffs Reportedly Loom - It’s not all fun and games at Activision Blizzard (NASDAQ:ATVI). The videogame maker slipped 7% midday amid reports that the company is planning to lay off hundreds of employees.

The layoffs, first reported by Bloomberg on Friday, is in response to sluggish sales as the company faces steep competition and a decline of brick-and-mortar sales.

The company’s struggles started earlier in January when it announced it was splitting from game studio Bungie, which developed the popular “Destiny” franchise.

Elsewhere in the sector, Zynga (NASDAQ:ZNGA) fell 0.3%, while Take-Two (NASDAQ:TTWO) slipped 3%. Electronic Arts (NASDAQ:EA) rose 5%, while GameStop (NYSE:GME) lost 1%.

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Benjamin McIntire
Benjamin McIntire

Sell atm laddered puts  ... (Read More)

Feb 11, 2019 05:54PM GMT· Reply

Not to mention backlash from Diablo Mobile and Wow numbers falling  ... (Read More)

Feb 11, 2019 05:10PM GMT· Reply
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