Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MICROSOFT CORPORATION

(MSFT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

GameStop shares surge 44% on tie-up with Microsoft to upgrade stores

10/08/2020 | 07:16pm EDT

Oct 8 (Reuters) - GameStop Corp and Microsoft Corp signed a multi-year deal that would allow the videogame retailer to upgrade its stores with the software maker's cloud and hardware services, sending GameStop shares 44% higher on Thursday.

GameStop, which already sells Microsoft's flagship Xbox gaming console, said http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20201008:nGNX4Fwz3h it would now offer a two-year digital subscription package with the consoles to players at no upfront cost.

Several analysts are expecting the November launches of the XBox Series X and rival Sony's PlayStation 5 to boost sales for GameStop, which has been reeling under losses driven by coronavirus-led disruptions and delayed console purchases ahead of the new cycle.

Brokerage Jefferies said the agreement provides GameStop access to revenue created at the gamer level, instead of solely on the piece of content sold.

GameStop, which did not disclose the financial terms of the deal, said it planned to roll out Microsoft's 365 services and workplace messaging app Teams in its stores and equip store associates with new Surface devices.

Gamestop's shares closed up 44% and were 5% higher in extended trading. The company said it would move its back-end and in-store operations to Microsoft's Dynamics 365 platform, which is a set of cloud-based business applications and customer data platform.

Last month, Ryan Cohen, the biggest individual investor in GameStop and founder of e-commerce firm Chewy, raised his stake in the company to nearly 10%, saying he was willing to become more involved to produce the best results for shareholders. (Reporting by Ayanti Bera in Bengaluru; Editing by Devika Syamnath)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHEWY, INC. -0.83% 77.85 Delayed Quote.-12.67%
GAMESTOP CORP. -6.29% 200.37 Delayed Quote.1,034.93%
MICROSOFT CORPORATION 1.23% 262.63 Delayed Quote.16.64%
All news about MICROSOFT CORPORATION
04:21pWALL STREET STOCK EXCHANGE : Wall Street ends sharply higher, led by surging Dow
RE
02:41pDow leads the way in broad Wall Street rally
RE
11:19aRACIAL EQUITY INITIATIVE : A year of progress on our commitments
PU
08:08aKULR Technology Group Stock Surges 61% YTD; Special Permit News Shows It's Ba..
AQ
07:15aFACEBOOK  : launches Clubhouse-like live audio rooms and podcasts
RE
06:26aAmazon, Apple most valuable brands but China's rising - Kantar survey
RE
04:39aMICROSOFT  : Thales brings passwordless authentication to the enterprise
AQ
06/18Fed Statement 'Very Bullish' For Tech Stocks, Wedbush Says
MT
06/18MICROSOFT  : Recipients of academic grants for AI research on combating phishing..
PU
06/18RECAP OF JUNE 17 XBOX GAMES SHOWCASE : Extended
PU
More news
Financials (USD)
Sales 2021 166 B - -
Net income 2021 59 385 M - -
Net cash 2021 66 544 M - -
P/E ratio 2021 33,2x
Yield 2021 0,86%
Capitalization 1 978 B 1 978 B -
EV / Sales 2021 11,5x
EV / Sales 2022 10,2x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | MarketScreener
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 42
Average target price 294,33 $
Last Close Price 259,43 $
Spread / Highest target 31,1%
Spread / Average Target 13,5%
Spread / Lowest Target -2,32%
EPS Revisions
Managers and Directors
NameTitle
Satya Nadella Chairman & Chief Executive Officer
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
James Kevin Scott Chief Technology Officer & Executive VP
Gina L. Loften Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
MICROSOFT CORPORATION16.64%1 953 916
SEA LIMITED41.92%148 147
ZOOM VIDEO COMMUNICATIONS, INC.10.95%110 268
ATLASSIAN CORPORATION PLC14.08%66 955
DASSAULT SYSTÈMES SE18.72%61 202
PALANTIR TECHNOLOGIES INC.7.73%47 613