Take-Two losses rise, GTAIV ships 13 million
Ever since analyst Michael Pachter upgraded his rating of Take-Two Interactive to "buy" last week, the publisher's share price has been slowly rising skyward. Just today, shares in the company rose nearly 14 percent to hit $6.85 at the closing bell--nearly $2 more than where it was when Pachter issued his prognostication. "13 million copies? The cabaret tickets are on me, Roman!" All that changed at about 4:30 p.m. Eastern time, when Take-Two's share price began to sink in after-hours trading. The drop was precipitated by the New York-based publisher issuing its earnings report for the November-January quarter, the first of its fiscal year. On one hand, the three-month period saw the company take in $256.8 million in revenues, a 7 percent increase from $240.4 million during the same period the prior year. On the other, losses for the quarter totaled $50.4 million ($0.66 per share), up from $38 million ($0.52 per share) the year prior.