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
- Meanwhile, In Front Of Apple Stores In New York And Around The World... | ZeroHedge
- Dow Theory: Yellow Flags or Green Light? | Financial Sense
- Added To ETP – 35% Cash | iBankCoin.com
- How Good Decision Making can Save Your Ass | ZeroHedge
- Fed Comments Should Spur Positivity | Financial Sense
- Precious Metals Liquidated To Make Room For Alibaba, Silver At Four-Year Lows | ZeroHedge
- Late Night Strategy for Thursday | iBankCoin.com
The most relevant financial news and articles from the Internets
- 10 Things You Need To Know Before The Opening Bell (DIA, SPY, SPX, QQQ) | Business Insider
- Former Kraft Exec Shares 7 Steps For Achieving Massive, Meaningful Growth | Business Insider
- 'Nessie' leaves Scots wondering as monster vote looms... | Business Insider
- Oracle Reports Another Miss On Earnings And Says CEO Larry Ellison Is Stepping Down (ORCL... | Business Insider
- Cops Are Using Power Tools To Break Up And Arrest Immigration Protesters In... | Business Insider
- France to receive first Ebola patient | Business Insider
- Barclays Is Calling It: The ECB Is About To Finally Join The QE Party | Business Insider