Redemption (Red Dead) for Take-Two Stock; BUD Falls Flat Midday


Redemption (Red Dead) for Take-Two Stock; BUD Falls Flat Midday

Hot news – Shares of videogame maker Take-Two Interactive soared in midday trading as the sequel to its wildly popular Western shoot-em-up wowed critics.

Take-Two (NASDAQ:TTWO) stock jumped about 9% at 11:30 AM ET (15:00 GMT).

The company’s “Red Dead Redemption 2,” which many on the Street saw as crucial to how the stock holds up, garnered a lot of praise from the video game cognoscente ahead of its release tomorrow.

Influential site IGN gave the game 10/10, while GameSpot rated it a 9/10. The UK’s Guardian gave the game 5/5 and called it a “near miracle.”

Rival videogame makers rode the wave higher, with Activision Blizzard (NASDAQ:ATVI) rising about 4% and Electronic Arts (NASDAQ:EA) up about 2%.

Meanwhile, there was less toasting do be done in the beverage sector, as brewing giant Anheuser Busch Inbev (NYSE:BUD) reported results that disappointed on the top and bottom lines.

Revenue fell 9.9% from the same quarter a year ago.

Shares of the Budweiser brewer tumbled about 11%.


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