Live: Samsung Unpacked Live Updates Galaxy S23 Ultra First Look Apple's iOS 16.3 Release 9 Ways to Celebrate Black History Month Best Indoor Plants HomePod 2nd-Gen Review 12 Best Cardio Workouts Salami, Sausage Recalled
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Activision shares jump on upgrade

Activision broke out of its malaise Thursday, picking up $1.25, or 10 percent, to $13.88 after USB Piper Jaffray upgraded the stock from a "neutral" rating to a "buy."

Activision (Nasdaq: ATVI) and other computer software developers have received favorable comments in recent weeks ahead of the much-ballyhooed release of Sony's PlayStation2 console.

Activision gave its shareholders some good news last quarter when it topped analysts' estimates, posting a loss of $5.2 million, or 21 cents a share, on sales of $84.5 million.

First Call Corp. consensus expects it to earn 9 cents a share in its second quarter and 55 cents a share in the fiscal year.

Activision shares moved up to a 52-week high of $18.25 in February before falling to a low of $5.38 in June.

Six of the seven analysts following the stock rate it either a "buy" or "strong buy."