SOURCE: Equity News Circuit

Equity News Circuit

May 09, 2013 08:00 ET

Squawk Box Stocks Reports On: Electronic Arts Inc. (NASDAQ: EA), Activision Blizzard, Inc. (NASDAQ: ATVI), Advanced Micro Devices, Inc. (NYSE: AMD), Fusion-io, Inc. (NYSE: FIO)

Note to Editors: The Following Is an Investment Opinion Being Issued by the Equity News Circuit

NEW YORK, NY--(Marketwired - May 9, 2013) - Electronic Arts Inc. (NASDAQ: EA), Activision Blizzard, Inc. (NASDAQ: ATVI), Advanced Micro Devices, Inc. (NYSE: AMD), Fusion-io, Inc. (NYSE: FIO).

Electronic Arts Inc. (EA) saw shares advancing 17.11% or $3.15 per share to close at $21.56 on volume of 22,309,529 shares traded during Wednesday's trading session. The No. 2 U.S. video-game maker, rose the most in 13 years after forecasting annual profit that exceeded analysts' estimates, a result of cost cutting. The company forecast adjusted earnings of $1.20 a share in the year ending in March, exceeding the $1.10 average estimate compiled by Bloomberg. The rise suggests investor optimism for Electronic Arts, which missed financial targets last year and ousted its chief executive officer in March as players shifted to online and mobile games. Electronic Arts is cutting jobs and reducing expenses to cushion against a potentially rocky transition to new consoles, said Chief Financial Officer Blake Jorgensen. Find out what to expect next from Electronic Arts following this positive earnings report in our exclusive research report at: http://squawkboxstocks.com/reports/EA

Activision Blizzard, Inc. (ATVI) saw shares rising 2.14% to close Wednesday's trading session at $15.26 on volume of 8,849,484 shares traded. Shares of Activision Blizzard slid 5% in after-hours trading on Wednesday afternoon after the videogame publisher said subscribers to its popular "World of Warcraft" online game fell by 1.3 million during the first quarter. The company made the disclosure in its earnings report for the period, which still beat Wall Street's expectations thanks to a strong debut of "Starcraft II: Heart of the Swarm," a PC game from the company's Blizzard unit. The company's forecast of $590 million in adjusted revenue for the second quarter was also below the $601 million projected by analysts, according to FactSet. Find out what to expect next from Activision Blizzard following the latest earnings report in our exclusive research report at: http://squawkboxstocks.com/reports/ATVI

Advanced Micro Devices, Inc. (AMD) saw shares advancing 8.19% or $0.29 per share to close Wednesday at $3.83 on volume of 56,975,017 shares traded. The memory chip manufacturer announced yesterday it had launched the AMD Radeon™ RG2133 Gamer Series Memory and Radeon™ RAMDisk 4.1. AMD Radeon RG2133 Gamer Series Memory is the only memory on the market that offers both XMP and AMP memory profiles in one package, enabling ultimate ease in overclocking on both platforms. AMD Radeon RG2133 Gamer Series Memory will ship with a free AMD Radeon™ RAMDisk 64GB, which features enhanced load-and-save functionality. Traders began to speculate that AMD's processors are anticipated to play a major roll in the next generation of video game consoles. Find out what to expect next from AMD in our exclusive research report at: http://squawkboxstocks.com/reports/AMD

Fusion-io, Inc. (FIO) saw shares declining 18.89% or $3.40 per share to close Wednesday at $14.60 on volume of 46,177,375 shares traded. Shares of Fusion-io plunged Wednesday on the unexpected news that both its CEO and chief marketing officer were resigning "to pursue entrepreneurial investing activities," the company said in a statement. David Flynn, a company co-founder, CEO and president, will be replaced "effectively immediately" by Shane Robison, who is a company board member. Robison most recently served as executive vice president and chief strategy and technology officer at Hewlett-Packard. Find out what to expect next from Fusion-io following this surprise announcement in our exclusive research report at: http://squawkboxstocks.com/reports/FIO

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