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No wonder Wall Street is pooh-poohing the backdating issues involving Santa Monica-based Activision and Agoura Hills-based THQ. Business is good. TQH raised its sales and profit estimate for the third quarter ended Dec. 31 and also raised its guidance for the fiscal year ending in March. Meanwhile, UBS raised its price target on Activision to $22 from $18. “We believe that among video game companies Activision is best positioned to benefit from the growth in entertainment software sales,” Terry wrote in a research note. At last check (around noon), Activision shares were up 4 percent; THQ was unchanged. Barron's Online
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.