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 Bond Market is taking Advantage of Janet Yellen`s Dovishness | ZeroHedge
- Russia Shuts Moscow McDonalds Due To "Sanitary Breaches" | ZeroHedge
- Another Police Shooting In St. Louis, Just 3 Miles From Ferguson: "Suspect Dead At The Scene" - Live Feed | ZeroHedge
- China’s Credit Slowdown Raises Concerns About Overall Economic Health | Financial Sense
- Jackson Hole: 'Tremendous' Downside Risks If Yellen Doesn't Go Full-Dovish | ZeroHedge
- The Founding Fathers Fought the Revolutionary War to Stop the Type of Militarized Police We Now Have In the U.S. | ZeroHedge
- Pondering Some Morning Breadth | iBankCoin.com
The most relevant financial news and articles from the Internets
- Why Urban Outfitters Doesn't Want To Be A Teen Brand | Business Insider
- 9 Tricks Casinos Use To Make You Spend More Money | Business Insider
- 6 Tactics For Powering Through A Workday On No Sleep | Business Insider
- Ocean City, Md.: America's Most Affordable Fun City | BusinessWeek
- Here's A 10-Second Guide To What Traders Are Talking About Today | Business Insider
- The iPhone 6 Could Give Apple Yet Another Record... | Business Insider
- These Are The First Photos We've Seen Of What Could Be The 5.5-Inch iPhone 6 (AAPL) | Business Insider