Volume Spike Investor

Take-Two Interactive Software (NASDAQ: TTWO) is actually trading up despite posting a net loss and non-GAAP earnings of $0.09 EPS,  in-line with estimates; Revenue was up 6% on the surface at $343M rather than 340+ million expected.  While it ‘reiterated’ for the next quarter, this is on the heels of much lower guidance.  Stern Agee raised it to BUY and Kaufman Bros. raised the rating to HOLD.  This felt initially like coal in that holiday chimney stocking as a gift, even though it should have stabilized.  But the real gain is because Carl Icahn has disclosed an 11% stake in the company.  Activists have gone after Take-Two before, yet here is still is.  Shares are up 8.5% at $8.95 in pre-market trading on about 125,000 shares of stock as of 8:35 AM EST.

JON OGG