Thursday, October 23, 2014   

Nintendo shares hammered, but recover at close
(01-20 15:43)

Nintendo shares plunged nearly 19 percent before recouping most of those losses after the Japanese gaming giant warned it would slip back into the red on poor sales of its Wii U game console.
The warning, released after the Tokyo market closed Friday, highlighted a growing chasm between Nintendo and global rivals Sony and Microsoft, as well as the trio's battle against cheap – or sometimes free – downloadable games for smartphones and tablets.
Shareholders unloaded the stock at the opening bell today after Kyoto-based Nintendo said it would lose 25 billion yen (US$240 million) in the fiscal year to March, reversing an earlier 55 billion yen net profit forecast.
But the shares recovered from their morning losses to close 6.14 percent lower at 13,745 yen.
Nintendo, maker of the Donkey Kong and Super Mario brands, blamed the downgrade on expectations it would now sell just 2.8 million units of the Wii U worldwide in the current fiscal year.—AFP
   
Other Business breaking news:
Manufacturing moving from China to US: survey (5 mins ago)
US billionaire's hedge fund dumps Sony stake (9 mins ago)
Hang Seng down by break (10 mins ago)
Nikkei weak by break (1 hr 17 mins ago)
Takata shares drop on report of US air bag probe (1 hr 18 mins ago)
China manufacturing sector grows faster in October: survey (1 hr 21 mins ago)
Sk Hynix logs all-time high Q3 earnings (1 hr 21 mins ago)
Apple computer sells for record US$905K in NY: Bonhams (1 hr 22 mins ago)
Heineken Q3 sales dip, but toasts 2014 outlook (10-22 18:38)
Boeing and Chinese firm to turn 'gutter oil' into jet fuel (10-22 18:37)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.