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Atari, Infogrames Stock Falls After Poor Results

Following disappointing results yesterday for U.S.-headquartered publisher and developer Atari In...
Following disappointing results yesterday for U.S.-headquartered publisher and developer Atari Inc, the firm's stock price has plummeted in both after-hours trading and on today's NASDAQ stock market. As of press time, Atari's NASDAQ-traded shares were at $1.37, almost 38% down from today's opening of $1.81, and even further down from yesterday's close of $2.20. Its parent company, Infogrames, which has pledged to help Atari through its financial difficulties while facing a difficult climate itself, fared poorly too, with its French-based stock closing at 1.50 euros ($1.85), down over 11% on the day. A Reuters report discussing Atari's poor results referenced pessimism about forthcoming upcoming Infogrames financial results from Exane BNP Paribas analyst Brice Mari, since Atari and Infogrames are still so inter-related, with Mari commenting: "The Q1 figures combined with the poor Q2 outlook given by Atari make us think that H1 earnings at Infogrames will show a significant operating loss and that the fiscal year will be heavily back-end loaded." Atari is still banking on a resurgence via a lineup of games such as The Matrix: Path of Neo, Mark Ecko's Getting Up, and Dragon Ball Z Budokai: Tenkaichi due to debut later this year, but recent financial results have been increasingly bleak.

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