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JPMorgan initiates Roblox at overweight rating, says video game stock can rally nearly 20%

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JPMorgan initiates Roblox at overweight rating, says video game stock can rally nearly 20%


David Baszucki, founder and CEO of Roblox, presents at the Roblox Developer Conference on August 10, 2019 in Burlingame, California.

Ian Tuttle | Getty Images

Video game platform Roblox offers investors a healthy gaming business and an attractive foothold in the potential of the so-called metaverse, JPMorgan said in a note to clients.

Roblox is a company whose main product is video games for children, but the interactive nature of the games and extended playing time makes it a place for kids to socialize virtually. Analyst Alexia Quadrani initiated coverage of the newly public stock with an overweight rating on Tuesday, saying that the market was underestimating both the short-term and long-term potential of the platform.



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U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.36% By Investing.com

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U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.36% By Investing.com



© Reuters. U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.36%

Investing.com – U.S. stocks were lower after the close on Tuesday, as losses in the , and sectors led shares lower.

At the close in NYSE, the declined 1.36%, while the index fell 0.87%, and the index declined 0.09%.

The best performers of the session on the were Salesforce.com Inc (NYSE:), which rose 0.81% or 1.74 points to trade at 215.63 at the close. Meanwhile, Nike Inc (NYSE:) added 0.54% or 0.73 points to end at 137.13 and Honeywell International Inc (NYSE:) was unchanged 0.00% or 0.00 points to 230.94 in late trade.

The worst performers of the session were Home Depot Inc (NYSE:), which fell 3.10% or 10.57 points to trade at 330.55 at the close. The Travelers Companies Inc (NYSE:) declined 3.05% or 4.93 points to end at 156.74 and American Express Company (NYSE:) was down 2.67% or 4.23 points to 154.45.

The top performers on the S&P 500 were NortonLifeLock Inc (NASDAQ:) which rose 10.77% to 23.35, Freeport-McMoran Copper & Gold Inc (NYSE:) which was up 4.77% to settle at 44.78 and Arconic Corp (NYSE:) which gained 2.94% to close at 36.44.

The worst performers were Hanesbrands Inc (NYSE:) which was down 12.01% to 19.27 in late trade, Occidental Petroleum Corporation (NYSE:) which lost 7.92% to settle at 24.52 and Pioneer Natural Resources Co (NYSE:) which was down 5.89% to 157.71 at the close.

The top performers on the NASDAQ Composite were Bridgford Foods Corporation (NASDAQ:) which rose 50.95% to 21.42, Sequential Brands Group Inc (NASDAQ:) which was up 36.19% to settle at 13.1700 and Saga Communications Inc (NASDAQ:) which gained 34.04% to close at 28.31.

The worst performers were Larimar Therapeutics Inc (NASDAQ:) which was down 35.67% to 8.440 in late trade, Alset Ehome International Inc (NASDAQ:) which lost 34.38% to settle at 4.16 and Rackspace Technology Inc (NASDAQ:) which was down 20.82% to 19.02 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2356 to 880 and 93 ended unchanged; on the Nasdaq Stock Exchange, 1947 fell and 1428 advanced, while 106 ended unchanged.

Shares in Freeport-McMoran Copper & Gold Inc (NYSE:) rose to 5-year highs; up 4.77% or 2.04 to 44.78. Shares in Arconic Corp (NYSE:) rose to 5-year highs; gaining 2.94% or 1.04 to 36.44. Shares in Bridgford Foods Corporation (NASDAQ:) rose to 52-week highs; up 50.95% or 7.23 to 21.42. Shares in Larimar Therapeutics Inc (NASDAQ:) fell to 52-week lows; down 35.67% or 4.680 to 8.440. Shares in Alset Ehome International Inc (NASDAQ:) fell to all time lows; falling 34.38% or 2.18 to 4.16. Shares in Saga Communications Inc (NASDAQ:) rose to 52-week highs; up 34.04% or 7.19 to 28.31.

The , which measures the implied volatility of S&P 500 options, was up 11.09% to 21.84 a new 1-month high.

Gold Futures for June delivery was up 0.04% or 0.75 to $1838.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 0.75% or 0.49 to hit $65.41 a barrel, while the July Brent oil contract rose 0.51% or 0.35 to trade at $68.67 a barrel.

EUR/USD was up 0.15% to 1.2147, while USD/JPY fell 0.11% to 108.67.

The US Dollar Index Futures was down 0.02% at 90.168.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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EA pins hopes on ‘FIFA 21’, ‘Apex Legends’ with upbeat revenue forecast By Reuters

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EA pins hopes on ‘FIFA 21’, ‘Apex Legends’ with upbeat revenue forecast By Reuters



© Reuters. FILE PHOTO: An Electronic Arts office building is shown in Los Angeles, California, U.S., July 27, 2020. REUTERS/Mike Blake

(Reuters) – Electronic Arts Inc (NASDAQ:) on Tuesday forecast full-year adjusted revenue above analysts’ estimates, betting that demand for its titles, including “FIFA 21” and “Apex Legends”, would stay strong even as COVID-19 restrictions ease.

The video gaming industry has been among the big pandemic winners thanks to a surge in engagement from gamers staying indoors. U.S. consumer spending on video games rose 18% in March to a record of $5.6 billion, according to data from research firm NPD.

EA estimated full-year adjusted revenue to be $7.30 billion, higher than a Refinitiv IBES estimate of $6.61 billion.

The video game publisher has been expanding its customer base and mobile gaming footprint through deals for companies including UK-based Codemasters, known for racing titles such as “F1” and “Dirt”, and the “Kim Kardashian: Hollywood” game creator Glu Mobile (NASDAQ:).

Its revenue was $1.49 billion for the fourth quarter ended March 31, beating expectations of $1.39 billion.

“EA delivered a strong quarter, driven by live services and Apex Legends’ extraordinary performance,” the company said in a statement.

But net income fell to $76 million, or 26 cents per share, from $418 million, $1.43 per share, a year earlier.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Prosecutor says suspect in Georgia spa shootings committed hate crimes- NY Times By Reuters

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Prosecutor says suspect in Georgia spa shootings committed hate crimes- NY Times By Reuters



© Reuters. FILE PHOTO: Robert Aaron Long, 21, of Woodstock in Cherokee County poses in a jail booking photograph after he was taken into custody by the Crisp County Sheriff’s Office in Cordele, Georgia, U.S. March 16, 2021.

(Reuters) – A prosecutor in Georgia on Tuesday said the suspect in the shooting deaths of eight people at Atlanta-area spas had targeted some of his victims because they were Asian, thus committing hate crimes, the New York Times reported on Tuesday.

The 21-year-old suspect, Robert Aaron Long, faces “malice murder” and aggravated assault charges in Cherokee County, Georgia, connected to a string of shootings at day spas in March, in which six of the eight people killed were Asian women.

In a court filing, the Fulton County prosecutor said Long had targeted four women because of their race, national origin and gender, and said she was planning to seek the death penalty against Long, the Times reported.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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