- CNBC’s Jim Cramer on Tuesday said Activision Blizzard is better positioned in the short term than rival Take-Two Interactive.
- Both video game companies reported quarterly earnings this week.
CNBC’s Jim Cramer on Tuesday said Activision Blizzard is better positioned in the short term than rival Take-Two Interactive.
Both video game companies reported earnings this week.
Activision Blizzard
Shares of Activision Blizzard rose about 5.6% Tuesday after the company reported a revenue beat in its most recent quarter. Cramer said that while all eyes are on the Federal Trade Commission’s antitrust case against Microsoft‘s attempt to acquire the video game publisher, he believes that Activision Blizzard doesn’t need the acquisition to keep performing well.
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“I think Activision Blizzard is on fire right here. I almost hope the Microsoft merger falls apart as soon as possible, so that you’ll get a better buying opportunity,” he said.
Take-Two
Shares of Take-Two Interactive rose about 7.9% Tuesday, making a comeback after falling Monday on a quarterly revenue miss. Cramer noted that the company’s warning of shifting consumer behavior due to tough macroeconomic conditions was worrisome.
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But he predicted that the company, which produces the Grand Theft Auto and Red Dead Redemption series, will eventually release another smash hit that will lead to a comeback.
“You have to believe in a turnaround to own this one. It might be a little early after this big run,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Microsoft.
Source: Business - cnbc.com
