New 52-week Low for Nintendo
Nintendo Co. (PINK:NTDOY) shares hit a new 52-week low today of $29.30. Since Feb 18th Nintendo shares have dropped a staggering 23%.
Traders were not impressed today after the company reported profit falling 66% in its latest fiscal year, 3DS sales falling short of expectations and top it off with Wii sales falling off a cliff.
The only bright spot is Nintendo announced plans to release a new home console to the masses in 2012. Nintendo shares are down 3.76% and trading around $29.60 a share.
Here's the 411 from CNET.com
n its fiscal year that ended March 31 (PDF), Nintendo generated revenue of 1.01 trillion yen ($12.32 billion), representing a steep 29 percent decline year over year. The game company posted a full-year profit of 77.6 billion yen ($946.7 million). That figure was down a whopping 66 percent year over year.
Nintendo's earnings report signals continued trouble at the venerable game company. In September, Nintendo released its six-month earnings statement, which included a $24.6 million loss. During the first nine months of the fiscal year, its revenue and profit tallies were down 31.7 percent and 74.3 percent, respectively.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Ten Plagues That Are Hitting America Right Now | ZeroHedge
- Today’s Movers | iBankCoin.com
- Where Facebook's Second Quarter User Growth And Revenue Generation Was In Charts | ZeroHedge
- How and Why the Chinese Are Buying Property Outside of China | Financial Sense
- Want To Outperform The Market, Buy Illiquid Stocks (And Pray) | ZeroHedge
- Phantom Liquidity and Perfect Pilfering | Financial Sense
- "He Who Makes The Rules Never Goes To Jail For Breaking Them" | ZeroHedge
The most relevant financial news and articles from the Internets
- LinkedIn May Not Be The Coolest Social Network, But It's Only Becoming More... | Business Insider
- NASCAR Is In Big Trouble As Team Values Continue To Shrink | Business Insider
- The 10 Most Important Things In The World Right Now | Business Insider
- 10 Things You Need To Know Before The Opening Bell (DIA, SPY, SPX, QQQ, FB, F) | Business Insider
- 9 Things We Just Learned About Vladimir Putin's Life | Business Insider
- The Restaurant Industry Still Hasn't Recovered From The Recession | Business Insider
- Ford Beats, GM Stalls, Eli Lilly Reports & Jim Cramer's Bank Pick | TheStreet.com