Digest: Macrovision buy; Take-Two gain
EmptyMacrovision buy clears FTC
Antitrust regulators cleared Macrovision's $82 million purchase of entertainment database firm All Media Guide, the Federal Trade Commission said Monday. Analysts, however, continued to pan Macrovision's plans to acquire Gemstar-TV Guide. William Blair analyst Ralph Schackart went so far as to suspend his rating on Macrovision, calling its Gemstar plans a "bet-the-company transaction." Macrovision announced Friday its intention to pay $2.8 billion for Gemstar, and that day Macrovision shares fell 21.4%, while Gemstar shed 17%. On Monday, both fell further.
'GTA' forecast lifts Take-Two
Take-Two Interactive Software gained 5.7% to $18 on Monday after Pacific Crest Securities analyst Evan Wilson upgraded shares of the video game publisher, saying the release of "Grand Theft Auto IV" will lift the stock. Wilson raised his rating to "outperform" and set a price target of $24 per share. The latest in the "GTA" franchise, delayed from a planned release this year, is set for release between February and April and limits the stock's downside, Wilson said. He added that Take-Two's fiscal 2008 adjusted profit forecast of $1.30-$1.50 per share could support a much higher share price.