• Business Wire

    Glu Announces Pricing of Public Offering of Common Stock

    Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and publisher of mobile games, today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $9.25 per share. In addition, Glu has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of its common stock. All of the shares are being offered by Glu. The offering is expected to close on or about June 8, 2020, subject to customary closing conditions.

  • Why Activision Blizzard (ATVI) Could Be Positioned for a Surge
    Zacks

    Why Activision Blizzard (ATVI) Could Be Positioned for a Surge

    Activision Blizzard (ATVI) is seeing positive earnings estimate revisions, suggesting that it could be a solid choice for investors.

  • Business Wire

    Glu Announces Proposed Public Offering of Common Stock

    Glu Mobile Inc. (NASDAQ: GLUU), a leading developer and publisher of mobile games, today announced that it intends to offer $100 million of its common stock in an underwritten public offering. In addition, Glu expects to grant the underwriters a 30-day option to purchase up to an additional $15 million of its common stock. All of the shares are being offered by Glu. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

  • Nasdaq Today: Why NetEase and Align Technology Led Stocks Higher
    Motley Fool

    Nasdaq Today: Why NetEase and Align Technology Led Stocks Higher

    As of 3 p.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was higher by about a quarter of a percent, and the Nasdaq 100 Index of top Nasdaq stocks saw slightly smaller gains. NetEase (NASDAQ: NTES) and Align Technology (NASDAQ: ALGN) were two of the most noteworthy Nasdaq stocks on Tuesday. Shares of NetEase climbed 4%, rising to another all-time record high.

  • 3 Top Stocks Under $10
    Motley Fool

    3 Top Stocks Under $10

    Lower-priced stocks tend to have smaller market caps and generally present a better opportunity to get in early on a company's long-term growth. There are plenty of options out there to find potential investments trading at a lower price, but it's harder to find great companies trading so low. The first pick is Sirius XM (NASDAQ: SIRI), a Warren Buffett-backed bet on satellite radio.

  • ‘Now is not the time’: Video game makers announce delays
    Yahoo Finance

    ‘Now is not the time’: Video game makers announce delays

    Video game companies are delaying the launch and debut of major titles amid George Floyd and police brutality protests.

  • Where Will Activision Blizzard Be in 1 Year?
    Motley Fool

    Where Will Activision Blizzard Be in 1 Year?

    Aside from the possibility for one or two major releases next year, the game maker will need to see continued strength in the "Call of Duty" franchise to drive growth.

  • Eight 'Cheap' Stocks Still Expect Big Growth This Year
    Investor's Business Daily

    Eight 'Cheap' Stocks Still Expect Big Growth This Year

    Investors are trying to find lingering pockets of value in the S&P; 500\. But that doesn't mean they must give up on growth.

  • TheStreet.com

    Las Vegas Preps to Reopen as Casinos Welcome Back Gamblers

    The bright lights of Sin City are being turned back on, with MGM, Wynn, Las Vegas Sands and Caesars reopening for business.

  • Hong Kong outlaws insulting China’s national anthem as HSBC and Standard Chartered back security law
    MarketWatch

    Hong Kong outlaws insulting China’s national anthem as HSBC and Standard Chartered back security law

    Hong Kong’s legislature approved a contentious bill Thursday that makes it illegal to insult the Chinese national anthem.

  • Barrons.com

    Merger Arbs Are Confident Despite Whispers on Tiffany Deal

    Most other prominent deals are expected to close, and arbitrage spreads have tightened sharply since mid-March.

  • Reuters

    Citi defies coronavirus with Western European corporate lending push

    Citigroup is looking to ramp up its commercial banking operations across Europe, Middle East and Africa, plugging gaps left by rivals facing fallout from a coronavirus-induced recession. The U.S. bank plans to expand its business lending division catering to companies with annual turnover between $25 million and $2.5 billion with a slew of new hires and office launches in several Western European countries by the end of 2020. Competitors, including HSBC and Standard Chartered , have made similar bids to win business from small and mid-sized European companies in the past few years, hoping to increase revenues in a market traditionally dominated by local banks.

  • Video Game Companies Announce Delays, Pledge Support Of Protests
    Benzinga

    Video Game Companies Announce Delays, Pledge Support Of Protests

    As protests continue after the death of George Floyd, many planned events in the video game community have been postponed as a stand in solidarity.While the choice to delay has been received with mixed opinions, it's a positive movement to help ignite change.PlayStation 5's 'The Future of Gaming' PostponedSony Corp (NYSE: SNE) is one of the major companies to announce delays. "The Future of Gaming," planned for June 4, was the first event to offer details of the PlayStation 5 since the companies Deep Dive presentation. "While we understand gamers worldwide are excited to see PS5 games, we do not feel that right now is a time for celebration, and for now, we want to stand back and allow more important voices to be heard," Sony stated on the PlayStation Blog.So far, Sony has only revealed the DualSense controller and covered the specifications of the new console. The postponed event had plans to showcase the lineup of games that can be played after the PS5's launch this holiday season.'Call of Duty' Sees DelaysActivision Blizzard (NASDAQ: ATVI) also announced delays. New seasonal content for "Call of Duty: Modern Warfare," "Call of Duty: Warzone," and "Call of Duty: Mobile" have all been postponed.The company announced the delays on Twitter, stating: "While we all look forward to playing the new seasons of 'Modern Warfare,' 'Warzone,' and 'Call of Duty: Mobile,' now is not the time. We are moving the launches of 'Modern Warfare' Season 4 and 'Call of Duty: Mobile' Season 7 to later dates. right now it's time for those speaking up for equality, justice and change to be seen and heard. We stand alongside you."EA Games Delays 'Madden' First LookElectronic Arts (NASDAQ: EA) also announced the postponement of "Madden NFL 21's" first look.Just as Sony and Activision did, EA Sports took to Twitter to speak about the delay: "We had committed to celebrating 'Madden NFL 21' with you, but we're not going to do that now. We stand with our African American/Black community of friends, players, colleagues and partners. Our immediate attention is on actions we can take to drive change against the unjust treatment and systemic bias that is plaguing the nation and our world. We'll find another time to talk football with you. Because this is bigger than a game, bigger than sports, and needs all of us to stand together and commit to change."EA also contributed million to the Equal Justice Initiative and the NAACP Legal Defense Fun. In addition, it's also matching employee donations made. EA employees are also receiving additional paid days off for volunteering.'Cyberpunk 2077's' Night City Wire PostponedCD Projekt Red announced a delay to its "Cyberpunk 2077" event Night City Wire to June 25.The company stated on Twitter: "We still look forward to sharing new information about CP'77, but more important discussions are happening right now and we want them to be heard. We wholeheartedly stand against racism, intolerance, and violence. Black Lives Matter."Other Companies Show SupportOther companies in the video game industry such as Microsoft Corporation's (NASDAQ: MSFT) Xbox, Naughty Dog, Insomniac Games, Harmonix, Warner Bros., and Bethesda Softworks are displaying unified support on social media. Humble Bundle announced a million fund to help publish games created by Black developers.Square Enix pledged 0,000 to Black Lives Matter, and Ubisoft (OTCPK: UBSFY) donated 0,000 to the NAACP and Black Lives Matter.See more from Benzinga * Sony To Present 'The Future Of Gaming' On June 4 * Fandom, America's Navy Partner For Warzone Tournament To Celebrate National Military Appreciation Month * Electronic Arts Signs Multiyear 'Madden NFL' Extension(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • U.S. IPO market to reopen with a bang as the biggest deal of the year takes off
    MarketWatch

    U.S. IPO market to reopen with a bang as the biggest deal of the year takes off

    After a few months of slim pickings, the U.S. initial public offering market is expected to reopen with a bang this week with the biggest deal of the year pricing early Wednesday.

  • Why Activision Blizzard Stock Climbed 12.9% in May
    Motley Fool

    Why Activision Blizzard Stock Climbed 12.9% in May

    Shares of Activision Blizzard (NASDAQ: ATVI) climbed 12.9% in May, according to data from S&P Global Market Intelligence. The video game company's stock posted big gains following better than expected first-quarter results published early in the month. Activision Blizzard released its first-quarter results after the market closed on May 5, delivering sales and earnings that trounced the market's expectations.

  • Why Zynga Stock Jumped 21.4% in May
    Motley Fool

    Why Zynga Stock Jumped 21.4% in May

    Shares of Zynga (NASDAQ: ZNGA) climbed 21.4% in May, according to data from S&P Global Market Intelligence . Zynga's first-quarter sales and earnings topped the market's expectations, but the company's earnings report also arrived with declining user-engagement figures that seem to have briefly weakened bullish sentiment on the stock. Zynga's share price largely climbed in conjunction with market momentum during the month, but it saw a pronounced uptrend begin on May 28, one that spurred double-digit gains.

  • Cheetah Mobile to Report First Quarter 2020 Financial Results on June 10, 2020
    PR Newswire

    Cheetah Mobile to Report First Quarter 2020 Financial Results on June 10, 2020

    Cheetah Mobile Inc. (NYSE: CMCM) ("Cheetah Mobile" or the "Company"), a leading mobile internet company with global market coverage, today announced that it plans to release its first quarter 2020 financial results before the market opens on Wednesday, June 10, 2020. The earnings release will be available on the Company's investor relations website at http://ir.cmcm.com.

  • NetEase's US$3 billion Hong Kong secondary listing looks like a done deal amid strong demand from investors
    South China Morning Post

    NetEase's US$3 billion Hong Kong secondary listing looks like a done deal amid strong demand from investors

    Chinese gaming giant NetEase has already amassed enough pledges from investors to cover its secondary listing in Hong Kong and could close the share offer on Thursday, according to people familiar with the matter. Investors' take-up of the sale bodes well for e-commerce giant JD.com as it prepares to launch its offering on Monday.NetEase and JD.com are racing to complete their secondary listings this month amid strong demand among investors for technology listings and before the US stance on Chinese companies trading on its markets hardens further.US President Donald Trump is dialling up anti-China rhetoric ahead of seeking a second term in November, pushing more Chinese technology firms to consider a secondary-listing closer to home. Hong Kong's exchange is putting on a full-court press to attract them."US-listed Chinese companies are concerned that Washington would place even more scrutiny on them if President Trump successfully wins a second term," said Alvin Cheung, associate director at Prudential Brokerage based in Hong Kong.JD.com is planning to raise between 4 per cent to 5 per cent of its market capitalisation ahead of a secondary listing on Hong Kong's main board slated for June 18, according to a separate source. Based on its US market cap, that works out to about US$3.2 billion to US$4 billion.NetEase is looking to raise US$2.6 billion, which could rise to US$3 billion if an overallotment option is exercised, according to a deal terms sheet. The deal is almost entirely aimed at international investors with just 3 per cent reserved for a Hong Kong public offer. Barring any last-minute hiccups, NetEase will close the books on its international offer at 4pm in all regions and on Friday for the Hong Kong public offer. It will price at 10am Hong Kong time the same day, the sources said.Combined, these two deals could raise up to US$7 billion and propel Hong Kong up the rankings of global exchanges by IPO volume. Add in other smaller IPOs that are expected to launch this month, and Hong Kong could close in on the Shanghai Stock Exchange, the global leader in terms of fundraising as of the first quarter.For the first five months of this year, companies raised US$3.37 billion on the Hong Kong stock exchange from 52 IPOs, compared to US$11.83 billion from 60 IPOs on the Shanghai Stock Exchange, data from Refinitiv shows. If JD.com and NetEase successfully complete their offerings, it would help Hong Kong narrow its US$8.46 billion deficit with Shanghai as of end May. Hong Kong's winning streak could extend into the second half of the year as other US-listed Chinese companies are also mulling secondary listings in the city, including internet and artificial intelligence giant Baidu as well as catering group Yum China.Hong Kong was the world's top IPO exchange last year, but dropped to fifth place in the first quarter.Liu Qiangdong, also known as Richard Liu, CEO of JD.com, celebrates the IPO on Nasdaq on May 22, 2014. Photo: AP alt=Liu Qiangdong, also known as Richard Liu, CEO of JD.com, celebrates the IPO on Nasdaq on May 22, 2014. Photo: APJD.com's Hong Kong offering comes as its Nasdaq-listed American depositary shares hit a record high of US$55.53 on May 18, after listing in the US in 2014. The stock has risen 55 per cent year-to-date. The pricing of its stock in the Hong Kong secondary listing will be set in reference to its US shares.NetEase will set the price for its international tranche with reference to the price of its ADRs, which closed on June 2 at US$408.65 each. It has set the maximum offer price for its Hong Kong public offer at HK$126 each. It is due to list on June 11.NetEase CEO William Ding Lei. Photo: VCG via Getty Images alt=NetEase CEO William Ding Lei. Photo: VCG via Getty ImagesInvestors' demand for IPOs was strong in May, particularly for the health care and technology-related sectors. One example is the over 1,100-time oversubscription attracted by Peijia Medical, a Suzhou, Jiangsu province-based medical device maker that made its debut on May 15.In May, across the eight new listings on the main board, all, except interior design provider Raffles Interior, closed higher than their IPO prices on the first trading day. This was despite the Hang Seng dropping 6.8 per cent in May.Charles Li Xiaojia, HKEX CEO, has rolled out the welcome mat for US-listed Chinese companies. Photo: Jonathan Wong alt=Charles Li Xiaojia, HKEX CEO, has rolled out the welcome mat for US-listed Chinese companies. Photo: Jonathan WongLast month, in an attempt to fence off Wall Street from Chinese companies, the US Senate passed an unprecedented bill which requires foreign companies to submit audits for inspection by the Public Company Accounting Oversight Board, the non-profit body that oversees audits of all US companies in public markets.A failure to provide the information for three straight years would lead to the delisting of a company's shares. The bill still needs to pass the House of Representatives before it can be signed into law by the US president.Also, Nasdaq has proposed changes for new listing applicants, requiring at least US$25 million minimum fundraising for companies to be eligible for a listing. Accounting scandals involving Chinese companies, such as that of Luckin Coffee which faced a delisting after its disclosure of sales fabrication, has spurred the exchange to tighten its rules.There are 195 Chinese companies trading on the New York Stock Exchange and the Nasdaq, with a combined market capitalisation of US$1.1 trillion, according to Bloomberg data. Among the top five, only Alibaba Group Holding, which owns the South China Morning Post, has a secondary listing in Hong Kong.HKEX is also moving to make it easier for high-growth Chinese tech companies to float shares in the city. The bourse last week began collecting public comments on a proposal that would allow the listings of a wider array of companies with a dual-class shares structure. Applicants that have corporate shareholders with weighted voting rights will probably be qualified for listings in the future, while the current rule limits the right to only founders and key staff.Amid heightened US-China geopolitical tension, the line of Chinese firms seeking a listing in Hong Kong would grow longer, said Prudential's Cheung."It would make sense for companies to complete their fundraising before the second half of the year, to avoid tapping a market that could be overcrowded by sizeable deals or issuers that are expected to attract strong demand," said Cheung.Additional reporting by Chad Bray This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

  • Reuters

    REFILE-Some global firms consider moving treasury operations out of HK-sources

    Some global companies are considering shifting some of their treasury operations out of Hong Kong as the United States moves to end the city's privileges, senior bankers said, in the latest blow to the territory's status as a major financial hub. U.S. President Donald Trump has begun the process of eliminating special U.S. treatment for Hong Kong to punish Beijing's decision to impose new national security laws there - which China and Hong Kong say will not hurt rights and freedoms. Against the backdrop, a handful of global firms are eyeing a move of some of their corporate treasury operations to countries like Singapore, Malaysia, Thailand, and Vietnam, four senior bankers with knowledge of the matter said.

  • Glu Mobile Sinks On $100M Public Offering Announcement
    SmarterAnalyst

    Glu Mobile Sinks On $100M Public Offering Announcement

    Shares in Glu Mobile (GLUU) pulled back 3% in after-hours trading on Tuesday after the company announced that it intends to offer $100 million of its common stock in an underwritten public offering.In addition, Glu expects to grant the underwriters a 30-day option to purchase up to an additional $15 million of its common stock. All of the shares are being offered by Glu.Glu intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include potential acquisitions and strategic transactions.Goldman Sachs & Co. LLC, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the proposed offering. Cowen, Wedbush Securities and Roth Capital Partners are acting as co-managers.The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, GLUU said.Shares in GLUU have exploded 65% year-to-date, and analysts have a cautiously optimistic Moderate Buy consensus on the stock with 7 recent buy ratings, 1 hold and 1 sell. Meanwhile the average analyst price target stands at $10, for upside potential of 5%. (See Glu stock analysis on TipRanks).Indeed, on May 28, GLUU announced an increase to prior Q2 guidance based on ongoing momentum across its live game portfolio, and the Q2 bookings and adjusted EBITDA raises were passed through to FY:20 guidance.“We continue to remain encouraged by these trends helping to strengthen GLUU’s bookings base, ahead of multiple growth catalysts still on the horizon for 2H20/FY21” stated Roth Capital’s Darren Aftahi on May 29 as he praised the company’s ‘diversified game portfolio.’Related News: Lyft Rises 5% After-Hours On Strong May Performance Zoom Lifts Full-Year Sales Guidance As Quarterly Revenue Balloons 169% Carl Icahn Initiates Position in Delek US Holdings, Boosts Occidental Petroleum More recent articles from Smarter Analyst: * Southwest Airlines Prices Two-Tranche $1.8 Billion Debt Offering * AstraZeneca Partners With Accent To Develop Novel Cancer Treatments * Nio Rising On Record-High Monthly Deliveries, Goldman Sachs Upgrade * Inovio Suing Suppliers Over Covid-19 Vaccine Production