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Reuters BusinessDec 12, 2017
Asian shares up, dollar dips as Democrat wins Alabama Senate race
TOKYO (Reuters) - U.S. stock futures, Treasury yields and the dollar fell on Wednesday as Democrat Doug Jones beat Republican Roy Moore in a bitter U.S. Senate race in Alabama, while Asian shares edged up as crude oil futures took back lost ground.

MarketWatch MarketPulseDec 12, 2017
Activision Blizzard stock rises after Goldman Sachs upgrades to buy
Activision Blizzard Inc. shares gained 2.2% in premarket trading Tuesday after analysts at Goldman Sachs upgraded the stock to buy from neutral and raised their price target to $73. The firm raised its 2019 and 2020 earnings estimates for the videogame publisher based on optimism for 'non-recurring titles,' including Overwatch 2, Diablo, and a mobile game from the Blizzard division. Overwatch, launched in 2016, was a big success for Activision Blizzard, and while the company hasn't confirmed a new installment, the team at Goldman Sachs thinks that one will come out in 2020. The analysts, led by Christopher Merwin, are also upbeat about the company's potential to capitalize on the mobile-gaming market in China. Merwin estimates that mobile will account for 31% of Activision's revenue in 2017, more than for its peers. He projects that the company will generate 68% of its revenue from in-game spending by 2019, including from mobile, console, and PC titles. Goldman Sachs also downgraded shares of publisher Ubisoft Entertainment to neutral and removed buy-rated Electronic Arts Inc. from its 'conviction list.' Activision shares have gained 75% so far in 2017, compared with an 87% rise for Ubisoft and a 37% rise for Electronic Arts. The S&P 500 is up 19% this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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