GOOD NEWS ON EARNINGS BOOSTS THQ GAME MAKER'S STOCK UP 14.4%.Byline: Evan Pondel Staff Writer CALABASAS - Shares of video game manufacturer THQ THQ Toy Headquarters THQ Territorial Headquarters THQ Tehsil Headquarters (Pakistan) THQ The Holy Quran THQ Theater Headquarters Inc. soared 14.4 percent Friday following a robust earnings report that allayed investors' fears about an overly aggressive outlook. THQ added $2.34 to close at $18.62 Friday on the Nasdaq market. On Thursday the Calabasas-based company posted a third-quarter net profit of $30.4 million, or 78 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with a profit of $3.1 million, or 8 cents a share, in the same period a year ago. In THQ's current quarter, the company expects fiscal fourth-quarter revenue of $90 million and earnings per share of 7 cents. The projection reflects the rescheduling of the much-anticipated ``Full Spectrum Warrior'' to fiscal 2005. ``THQ's December quarter illustrates the company's broadening product strength,'' RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside .'' Halpern reiterated an outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. rating on THQ shares, issuing a 12- month price target of $22. Analysts touted the company's pipeline as its greatest asset. ``Our portfolio of both new and proven franchise titles delivered the best quarter in THQ's history,'' Brian J. Farrell, THQ's president and chief executive officer, said in statement. ''Our team's outstanding execution on the strategic initiatives we implemented in 2003 drove our record December quarter operating results.'' Other highlights for THQ include establishing a new franchise titled ``Tak and the Power of Juju'' with partner Nickelodeon. The company also achieved several-million-unit sales of ``Finding Nemo,'' THQ's first title under a multilicense agreement with Disney Interactive and Pixar Animation Studios Animation studio can refer to:
Also reassuring investor confidence is the board of directors' authorization of a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. expansion of $25 million to $75 million. Evan Pondel, (818) 713-3662 evan.pondel(at)dailynews.com |
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