Digest: Weak spending a downer for ITV


Weak spending a downer for ITV
UBS on Monday downgraded shares of U.K. broadcaster ITV citing weak TV advertising spending growth. UBS now predicts an ITV1 ad decline of 4.2% this year, instead of 1.9% previously. It also cut its 2009 forecast and its rating to "sell."

Ubisoft ups '08 forecast
Ubisoft, Europe's largest video game maker, on Monday raised its financial forecasts for its fiscal year for the second time since January. For the fiscal year that ended Monday, Ubisoft said it expects to report revenue of 920 million euros ($1.5 billion), up from its previous guidance of 875 million euros. President and CEO Yves Guillemot said 2008 was shaping up as a record year for the video game sector. "Our games have performed remarkably well in this context," he said.