GameStop Corp. (NYSE:GME) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -10.63% to 28.74 with around 14.48 Million shares have changed hands in this session. GameStop Corp. (GME) announced that an increase in second-quarter profit, driven by strong margins. Earnings for the quarter came in line with Wall Street estimates, while revenues fell short of expectations, sending its shares down 8 percent in the extended session.
The video-game retailer lifted its guidance for 2015. GameStop shares gained about 2 percent in after-hours trade on the New York Stock Exchange. Grapevine, Texas-based GameStop’s second-quarter profit rose to $27.9 million or $0.27 per share from $25.3 million or $0.24 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.27 per share.
Sales for the quarter dropped 7.4 percent to $1.63 billion from $1.76 billion a year ago. Analysts had a consensus revenue estimate of $1.72 billion. GameStop’s same-store store sales declined 10.6, with 12.5 percent drop in the U.S. and 5.9 percent internationally. Game sales were impacted by a lack of new titles to offset strong last year title launches, such as Batman. Arkhman Knight and Elder Scrolls Online, and a decline in hardware sales caused primarily by new information being released about upcoming new consoles. The stock is going forward its fifty-two week low with 21.04% and lagging behind from its 52-week high price with -37.52%.
Likewise the positive performance for the quarter recorded as 1.10% and for the year was -35.03%, while the YTD performance remained at 5.03%. GME has Average True Range for 14 days of 1.04.
Tiffany & Co. (NYSE:TIF) [Trend Analysis] retains strong position in active trade, as shares scoring 0.38% to $73.56 in a active trade session, while looking at the shares volume, around 3.95 Million shares have changed hands in this session. After seeing initial strength, shares of Tiffany (TIF) remain firmly positive in afternoon trading on Thursday. Tiffany is currently up by 7.4 percent after reaching a seven-month intraday high. The strong gain by Tiffany comes after the luxury jeweler reported better than expected second quarter earnings. The firm has institutional ownership of 99.80%, while insider ownership included 0.40%. TIF attains analyst recommendation of 2.40 with week’s performance of 7.36%. Investors looking further ahead will note that the Price to next year’s EPS is 8.62%.