Softbank ADRs Fall, Take-Two Rises, Lumentum Drops as Price Target Lowered at UBS
From Stock Movers · 4:04
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On this episode of Stock Movers: - Softbank ADRs fall. SoftBank Group Corp. reported its first net loss in almost two years after the tech investor swallowed a $3.7 billion writedown over its US data-center projects and AI valuations dipped around the world. The company swung to a ¥1.12 trillion ($7.1 billion) loss in its fiscal second quarter after writing down non-refundable advance payments it made to secure power-generation equipment for its 8-gigawatt Ohio project and other US data centers. - Take-Two Interactive (TTWO) shares rise. Take-Two Interactive Software Inc. said NBA 2K27 was a hit but missed the company's sales expectations due to competition from Grand Theft Auto VI and a crowded September schedule. NBA 2K27 sold 4 million copies, leading to a bookings miss for the fiscal second quarter, with net bookings of $1.6 billion compared to Wall Street estimates of $1.65 billion. - Lumentum (LITE) shares drop. UBS analyst David Vogt lowered the firm's price target on Lumentum (LITE) to $686 from $960.See omnystudio.com/listener for privacy information.
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