- Activision Blizzard is a leading video game publisher that develops both retail and subscription-based online games.
- The company has a strong portfolio of popular franchises like Call of Duty and World of Warcraft and is looking to increase revenues through international expansion and new releases.
- While the company has some risks from console cycles and a few key franchises, its diversification into the growing online/subscription market and strong franchise portfolio make it a promising investment.
Ken Lewis of Bank of America presented at the Credit Suisse First Boston Financial Services Conference on February 8, 2005. He discussed Bank of America's unique franchise, successful track record, and focus on execution and sustainable growth. Lewis also outlined the bank's diverse business mix and leadership positions across businesses, and emphasized its focus on establishing a culture of productivity to drive customer delight and account growth.
The document discusses Bank of America's online banking services and strategies for growth. It summarizes that BofA has the largest market share in online banking and bill pay in the US. It outlines strategies like expanding affinity partnerships, improving the online customer experience, lowering costs through digital channels, and addressing security threats to continue growing its e-commerce business. The document also highlights some of BofA's innovations like budget tools, $0 Trades, and ATM opportunities to engage customers online.
The document provides information about the Global iGaming Summit & Expo occurring from May 11-13, 2010 in Montreal, Canada. The summit will discuss the anticipated regulation of the North American online gaming market, with panels featuring senators and other key stakeholders. The event will help attendees understand emerging regulations, review regulatory scenarios, and partner with stakeholders to facilitate successful market entry. Two pre-conference workshops on May 11 will provide practical guidance on online business operations and affiliate marketing.
Mobile presentation for retail connections slideshareLora Cecere
The document discusses the convergence of retail mobility and how it is impacting businesses. It notes that mobility is now a reality and companies need to be ready to address it. The role of supply chains in building market differentiation through mobility is also examined.
1. The document provides a summary and analysis of trends in the payments system industry for Q2 2012.
2. It notes that new mobile payment schemes that eliminate checkout lanes proliferated in the quarter, with two launched by merchants and two by third parties. Intuit also acquired a company involved in checkout lane disruption.
3. Industry players to watch that are discussed include Visa, MasterCard, ISIS, the CFPB, and Groupon due to various regulatory issues, partnerships, and acquisitions.
Sebacia Inc.- Startup Company Venture Capital Financing Deal Terms & ValuationsVC Experts, Inc.
Deal Terms, Pricing, and Valuations of the latest financing rounds for medical startup company Sebacia, Inc. Similar data on thousands of private companies is available in the Valuation & Deal Term Database at http://vcexperts.com.
This document discusses global e-commerce trends and cross-border opportunities. It provides statistics on the growth of e-commerce in various countries and regions. The UK e-commerce market has grown significantly in recent years and now accounts for 18% of total UK retail sales. Globally, e-commerce sales are expected to double to $1.125 trillion by 2012. Emerging markets like Brazil, Russia, India and China are leading growth. Cross-border shopping is also increasing, with up to 50% of consumers in some countries making online purchases from other countries. The document identifies opportunities for cross-border sales but also barriers to overcome like language, customer tastes, delivery and payment issues.
Deal Effect Business Presentation 30 Jan 13DealEffect
Deal Effect will be a commercially trading company which has as its purpose, raising funds for charities in Ireland. Deal Effect’s commercial business will be to supply quality deals at discounts greater than 50% of their recommended retail value. Deal Effect aims to raise over €2.1 million in the next three years for charities participating in the venture. This concept is being proposed by The Wheel, a registered charity.
The Wheel will establish a company limited by guarantee without share capital to run a daily deals website on a commercial basis. This company, Deal Effect, will source deals and promote them through a web platform and via email and social media. Deal Effect will partner with Irish charities to promote Deals to their donor/supporter groups. Purchases that signed-up consumers make through the site will remit an 11% of the purchase price to the charities which are part of Deal Effect. The service is opt-in and subscribers receive an email each day with a promotional offer for that day.
Ken Lewis of Bank of America presented at the Credit Suisse First Boston Financial Services Conference on February 8, 2005. He discussed Bank of America's unique franchise, successful track record, and focus on execution and sustainable growth. Lewis also outlined the bank's diverse business mix and leadership positions across businesses, and emphasized its focus on establishing a culture of productivity to drive customer delight and account growth.
The document discusses Bank of America's online banking services and strategies for growth. It summarizes that BofA has the largest market share in online banking and bill pay in the US. It outlines strategies like expanding affinity partnerships, improving the online customer experience, lowering costs through digital channels, and addressing security threats to continue growing its e-commerce business. The document also highlights some of BofA's innovations like budget tools, $0 Trades, and ATM opportunities to engage customers online.
The document provides information about the Global iGaming Summit & Expo occurring from May 11-13, 2010 in Montreal, Canada. The summit will discuss the anticipated regulation of the North American online gaming market, with panels featuring senators and other key stakeholders. The event will help attendees understand emerging regulations, review regulatory scenarios, and partner with stakeholders to facilitate successful market entry. Two pre-conference workshops on May 11 will provide practical guidance on online business operations and affiliate marketing.
Mobile presentation for retail connections slideshareLora Cecere
The document discusses the convergence of retail mobility and how it is impacting businesses. It notes that mobility is now a reality and companies need to be ready to address it. The role of supply chains in building market differentiation through mobility is also examined.
1. The document provides a summary and analysis of trends in the payments system industry for Q2 2012.
2. It notes that new mobile payment schemes that eliminate checkout lanes proliferated in the quarter, with two launched by merchants and two by third parties. Intuit also acquired a company involved in checkout lane disruption.
3. Industry players to watch that are discussed include Visa, MasterCard, ISIS, the CFPB, and Groupon due to various regulatory issues, partnerships, and acquisitions.
Sebacia Inc.- Startup Company Venture Capital Financing Deal Terms & ValuationsVC Experts, Inc.
Deal Terms, Pricing, and Valuations of the latest financing rounds for medical startup company Sebacia, Inc. Similar data on thousands of private companies is available in the Valuation & Deal Term Database at http://vcexperts.com.
This document discusses global e-commerce trends and cross-border opportunities. It provides statistics on the growth of e-commerce in various countries and regions. The UK e-commerce market has grown significantly in recent years and now accounts for 18% of total UK retail sales. Globally, e-commerce sales are expected to double to $1.125 trillion by 2012. Emerging markets like Brazil, Russia, India and China are leading growth. Cross-border shopping is also increasing, with up to 50% of consumers in some countries making online purchases from other countries. The document identifies opportunities for cross-border sales but also barriers to overcome like language, customer tastes, delivery and payment issues.
Deal Effect Business Presentation 30 Jan 13DealEffect
Deal Effect will be a commercially trading company which has as its purpose, raising funds for charities in Ireland. Deal Effect’s commercial business will be to supply quality deals at discounts greater than 50% of their recommended retail value. Deal Effect aims to raise over €2.1 million in the next three years for charities participating in the venture. This concept is being proposed by The Wheel, a registered charity.
The Wheel will establish a company limited by guarantee without share capital to run a daily deals website on a commercial basis. This company, Deal Effect, will source deals and promote them through a web platform and via email and social media. Deal Effect will partner with Irish charities to promote Deals to their donor/supporter groups. Purchases that signed-up consumers make through the site will remit an 11% of the purchase price to the charities which are part of Deal Effect. The service is opt-in and subscribers receive an email each day with a promotional offer for that day.
capital one Lehman Conference Presentationfinance13
Capital One provides a presentation on its financial performance and positioning. It discusses (1) executing on its vision of national lending and local banking, (2) delivering an operating profit of $463M despite significant credit headwinds, and (3) decisions that position it to navigate cyclical challenges and deliver value over the cycle through resilient businesses, conservative risk management, and lower lending lines.
This document discusses mergers and acquisitions (M&A). It defines key terms related to corporate control and structure. It provides examples of recent large mergers across various industries. It outlines both sensible and dubious rationales for mergers, including economies of scale, filling complementary needs, surplus funds, diversification, and earnings per share manipulation. The document discusses estimating potential economic gains from mergers using discounted cash flow models. It also covers leveraged buyouts, takeover defenses, and methods of acquiring companies like tender offers and proxy contests.
The monthly newsletter for Mid-America Association of Real Estate Investors. A Real Estate Investing Trade Association based in the Kansas City Metro Area. Find us online at www.MAREInet.com.
MAREI has won Awards of Excellence from the National REIA for the second year in a row. The awards recognize MAREI's tools and programs for connecting with members, educating members, and engaging members in community activities. MAREI looks forward to continuing its success and member services in the coming year.
Avista partners pres for cc for web 070212Paul Heydon
Raising money is not an easy task no matter how successful a game company is or how great the team is. There are many issues to deal with and timing is one of the important ones. With over $1 billion raised in venture capital by game companies in each of the last 4 years and over $5 billion in exits just in 2011, most VC’s, strategic investors and even many angel investors are keen to invest in the next great game company. So now is the actually the best time ever in the history of the game sector to raise money.The question is how to do that successfully with fair terms. Paul's session will address this question using both his insight from over 12 years advising game companies as an investment banker but also as an investor in game companies in the past 3 years.
State of chicago area distres -matthew andersonguest381588
1) Commercial real estate values in Chicago have declined 42% since their peak, with $32.6 billion in loans maturing in the next 3 years and $50.3 billion maturing in the next 5 years.
2) Delinquency rates on commercial mortgages and CMBS loans in Chicago have been rising, with over $3 billion in construction and land development loans delinquent as of Q4 2009.
3) The number of problem banks in Illinois has risen to 60 currently, with continued bank failures expected through 2011 as distressed commercial real estate assets weigh on banks.
- The document discusses research conducted to understand what makes an ideal grant-maker from the perspective of charities. It involved surveys, interviews, and an open forum with charities.
- Key findings from charities include a preference for clear guidelines, easy and fast application processes, good communication from grant-makers, and help and guidance provided. Charities also want funding to support core costs and continuity rather than just restricted projects.
- Smaller charities are more reliant on grants but have a lower return on investment compared to larger charities. There is potential for grant-makers to direct funds in a way that benefits those who need funding
Credit Card Market in China 2011 - Company ProfileNetscribes, Inc.
Credit card market in China has grown rapidly in recent years. The number of credit cards issued stood at X million in June 2011, representing y-o-y growth of Y%. Drivers of growth include China's large population, urbanization, rising middle class and incomes. However, challenges remain such as a traditionally savings-focused consumer base and rising bad debts. The market is expected to see further expansion in non-core businesses, EMV standards, and alternative payment systems, while competition among domestic and foreign banks intensifies.
This document provides an agenda for the CONNECTIONS Summit event happening on November 8, 2011. The agenda includes sessions on smart TV trends, video across multiple screens, consumer demand for energy services, the personal cloud, and a networking reception. Topics will explore shifts in viewing habits, content delivery across devices, opportunities for new energy services providers, the transition to cloud storage, and networking.
Esports Entertainment Group (GMBL) is a licensed online gambling company with
a specific focus on esports wagering and 18+ gaming. The Company holds a license
to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao,
Kingdom of the Netherlands and can accept wagers from over 149 jurisdictions
including Canada, Japan, Germany, and South Africa. Esports Entertainment offers
fantasy, pools, fixed odds, and exchange style wagering on esports events in a
licensed, regulated, and secure platform to the global esports audience at vie.gg. In
addition, Esports Entertainment intends to offer users from around the world the
ability to participate in multi-player mobile and PC video game tournaments for cash
prizes. Esports Entertainment is led by a team of industry professionals and
technical experts from the online gambling and the video game industries, and
esports.
Based on Buffett's comments and the table provided, an implied multiplier of approximately 12x can be derived for valuing Berkshire Hathaway based on its pre-tax operating earnings. Buffett separates Berkshire's value into the value of its investments and the value of its operating businesses, and compares this implied intrinsic value to the stock price to determine an implied multiplier. In 1997-1998, when the stock price approximated the implied intrinsic value, the implied multiplier was around 12x based on the pre-tax operating earnings. So a multiplier of 12x pre-tax operating earnings provides a framework for valuing Berkshire according to Buffett's comments.
Presentation at Logility Conference 2012Lora Cecere
This document discusses supply chain trends and challenges. It contains the following key points:
1) Retail is experiencing major shifts with power moving to shoppers, Amazon expanding into new categories, and expectations of anytime, anywhere shopping. This is pushing more costs backwards in supply chains.
2) Commodity price volatility significantly impacted company profits over the past 12 months and is expected to continue affecting profits
E-Commerce - Presentation by James Blouzard and Bertile Burel, Co-Founders & CEO of Wonderbox at the NOAH 2012 Conference in San Francisco, Four Seasons Hotel on the 26th of June. www.noah-conference.com
Nick Vandelogt Financial Analysis Detroit Red Wings Final ProductNick Vandelogt
The document provides a financial analysis of the Detroit Red Wings hockey organization. It discusses that the Red Wings are owned by Illitch Holdings and incorporated, which provides benefits to owner Michael Illitch. It also gives a brief history of the Red Wings franchise and notes they are financially ranked 9th by Forbes among NHL teams. The document analyzes the Red Wings' budget, payroll, revenue strategies and provides recommendations to enhance revenues through increased social media presence and acquiring a regional sports network.
Analyst call presentation on etsy workday quora july 18 2012Kris Tuttle
This presentation discusses positioning private companies for public markets. It provides an overview of the company advisory services of SoundView Technology Group and their experience advising companies through private funding rounds and IPOs. It then analyzes the positioning, business models, ecosystems, and valuation factors for several prominent private tech companies that may be considering going public. The presentation aims to provide information and analysis to help these companies optimize their strategies as they transition to operating as public entities.
The document provides housing market statistics for the Greater Toronto Area in December 2012 and for all of 2012. It reports that home sales were down year-over-year in December 2012 but that the average home price increased 6.5% to $478,739. For the full year 2012, sales were down slightly from 2011 but the average home price rose almost 7% to $497,298. The summary also indicates that price growth was strongest for detached homes and that market conditions remained tight for these property types.
Veev on Rock is a business case that had been suffer from ethical dilemma. We analyzed every angel from supply chain to distributer, and find the best solutions for the problems.
This document provides an overview of Genworth Financial's payment protection insurance business in Europe. Key highlights include that Genworth has been operating in Europe since 1972 and has a presence in multiple countries across Europe. The document discusses Genworth's product offerings, European market size, geographic and product dispersion, financial metrics, sales growth strategy, and European branding objectives.
capital one Lehman Conference Presentationfinance13
Capital One provides a presentation on its financial performance and positioning. It discusses (1) executing on its vision of national lending and local banking, (2) delivering an operating profit of $463M despite significant credit headwinds, and (3) decisions that position it to navigate cyclical challenges and deliver value over the cycle through resilient businesses, conservative risk management, and lower lending lines.
This document discusses mergers and acquisitions (M&A). It defines key terms related to corporate control and structure. It provides examples of recent large mergers across various industries. It outlines both sensible and dubious rationales for mergers, including economies of scale, filling complementary needs, surplus funds, diversification, and earnings per share manipulation. The document discusses estimating potential economic gains from mergers using discounted cash flow models. It also covers leveraged buyouts, takeover defenses, and methods of acquiring companies like tender offers and proxy contests.
The monthly newsletter for Mid-America Association of Real Estate Investors. A Real Estate Investing Trade Association based in the Kansas City Metro Area. Find us online at www.MAREInet.com.
MAREI has won Awards of Excellence from the National REIA for the second year in a row. The awards recognize MAREI's tools and programs for connecting with members, educating members, and engaging members in community activities. MAREI looks forward to continuing its success and member services in the coming year.
Avista partners pres for cc for web 070212Paul Heydon
Raising money is not an easy task no matter how successful a game company is or how great the team is. There are many issues to deal with and timing is one of the important ones. With over $1 billion raised in venture capital by game companies in each of the last 4 years and over $5 billion in exits just in 2011, most VC’s, strategic investors and even many angel investors are keen to invest in the next great game company. So now is the actually the best time ever in the history of the game sector to raise money.The question is how to do that successfully with fair terms. Paul's session will address this question using both his insight from over 12 years advising game companies as an investment banker but also as an investor in game companies in the past 3 years.
State of chicago area distres -matthew andersonguest381588
1) Commercial real estate values in Chicago have declined 42% since their peak, with $32.6 billion in loans maturing in the next 3 years and $50.3 billion maturing in the next 5 years.
2) Delinquency rates on commercial mortgages and CMBS loans in Chicago have been rising, with over $3 billion in construction and land development loans delinquent as of Q4 2009.
3) The number of problem banks in Illinois has risen to 60 currently, with continued bank failures expected through 2011 as distressed commercial real estate assets weigh on banks.
- The document discusses research conducted to understand what makes an ideal grant-maker from the perspective of charities. It involved surveys, interviews, and an open forum with charities.
- Key findings from charities include a preference for clear guidelines, easy and fast application processes, good communication from grant-makers, and help and guidance provided. Charities also want funding to support core costs and continuity rather than just restricted projects.
- Smaller charities are more reliant on grants but have a lower return on investment compared to larger charities. There is potential for grant-makers to direct funds in a way that benefits those who need funding
Credit Card Market in China 2011 - Company ProfileNetscribes, Inc.
Credit card market in China has grown rapidly in recent years. The number of credit cards issued stood at X million in June 2011, representing y-o-y growth of Y%. Drivers of growth include China's large population, urbanization, rising middle class and incomes. However, challenges remain such as a traditionally savings-focused consumer base and rising bad debts. The market is expected to see further expansion in non-core businesses, EMV standards, and alternative payment systems, while competition among domestic and foreign banks intensifies.
This document provides an agenda for the CONNECTIONS Summit event happening on November 8, 2011. The agenda includes sessions on smart TV trends, video across multiple screens, consumer demand for energy services, the personal cloud, and a networking reception. Topics will explore shifts in viewing habits, content delivery across devices, opportunities for new energy services providers, the transition to cloud storage, and networking.
Esports Entertainment Group (GMBL) is a licensed online gambling company with
a specific focus on esports wagering and 18+ gaming. The Company holds a license
to conduct online gambling and 18+ gaming on a global basis in Malta and Curacao,
Kingdom of the Netherlands and can accept wagers from over 149 jurisdictions
including Canada, Japan, Germany, and South Africa. Esports Entertainment offers
fantasy, pools, fixed odds, and exchange style wagering on esports events in a
licensed, regulated, and secure platform to the global esports audience at vie.gg. In
addition, Esports Entertainment intends to offer users from around the world the
ability to participate in multi-player mobile and PC video game tournaments for cash
prizes. Esports Entertainment is led by a team of industry professionals and
technical experts from the online gambling and the video game industries, and
esports.
Based on Buffett's comments and the table provided, an implied multiplier of approximately 12x can be derived for valuing Berkshire Hathaway based on its pre-tax operating earnings. Buffett separates Berkshire's value into the value of its investments and the value of its operating businesses, and compares this implied intrinsic value to the stock price to determine an implied multiplier. In 1997-1998, when the stock price approximated the implied intrinsic value, the implied multiplier was around 12x based on the pre-tax operating earnings. So a multiplier of 12x pre-tax operating earnings provides a framework for valuing Berkshire according to Buffett's comments.
Presentation at Logility Conference 2012Lora Cecere
This document discusses supply chain trends and challenges. It contains the following key points:
1) Retail is experiencing major shifts with power moving to shoppers, Amazon expanding into new categories, and expectations of anytime, anywhere shopping. This is pushing more costs backwards in supply chains.
2) Commodity price volatility significantly impacted company profits over the past 12 months and is expected to continue affecting profits
E-Commerce - Presentation by James Blouzard and Bertile Burel, Co-Founders & CEO of Wonderbox at the NOAH 2012 Conference in San Francisco, Four Seasons Hotel on the 26th of June. www.noah-conference.com
Nick Vandelogt Financial Analysis Detroit Red Wings Final ProductNick Vandelogt
The document provides a financial analysis of the Detroit Red Wings hockey organization. It discusses that the Red Wings are owned by Illitch Holdings and incorporated, which provides benefits to owner Michael Illitch. It also gives a brief history of the Red Wings franchise and notes they are financially ranked 9th by Forbes among NHL teams. The document analyzes the Red Wings' budget, payroll, revenue strategies and provides recommendations to enhance revenues through increased social media presence and acquiring a regional sports network.
Analyst call presentation on etsy workday quora july 18 2012Kris Tuttle
This presentation discusses positioning private companies for public markets. It provides an overview of the company advisory services of SoundView Technology Group and their experience advising companies through private funding rounds and IPOs. It then analyzes the positioning, business models, ecosystems, and valuation factors for several prominent private tech companies that may be considering going public. The presentation aims to provide information and analysis to help these companies optimize their strategies as they transition to operating as public entities.
The document provides housing market statistics for the Greater Toronto Area in December 2012 and for all of 2012. It reports that home sales were down year-over-year in December 2012 but that the average home price increased 6.5% to $478,739. For the full year 2012, sales were down slightly from 2011 but the average home price rose almost 7% to $497,298. The summary also indicates that price growth was strongest for detached homes and that market conditions remained tight for these property types.
Veev on Rock is a business case that had been suffer from ethical dilemma. We analyzed every angel from supply chain to distributer, and find the best solutions for the problems.
This document provides an overview of Genworth Financial's payment protection insurance business in Europe. Key highlights include that Genworth has been operating in Europe since 1972 and has a presence in multiple countries across Europe. The document discusses Genworth's product offerings, European market size, geographic and product dispersion, financial metrics, sales growth strategy, and European branding objectives.
The meeting notes discuss Kraft's acquisition of Cadbury for $19.4 billion, with 60% paid in cash and 40% in stock. The acquisition allows Kraft to realize potential cost savings of $650 million and expand into developing markets. However, there is a risk of cultural conflicts during integration and layoffs in Cadbury's UK unit as Kraft aims to cut costs. Institutional investors owned 30% of Cadbury shares and received a 50% premium on share price from the deal.
Wis. climate change bill - 1/20/2010 staff presentationwispolitics
The document summarizes Assembly Bill 649 and Senate Bill 450, which address clean energy and greenhouse gas emission reduction goals in Wisconsin. The bill sets goals for renewable energy, energy efficiency, and emissions regulations. It establishes programs administered by the Public Service Commission related to energy efficiency, renewable portfolio standards, and feed-in tariffs. The bill also addresses transportation-related issues like vehicle emissions standards, idle reduction, and low carbon fuel standards.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This portfolio document contains sections for various landscaping projects including plants and flowers, stamped concrete, residential lawns, retaining walls, and koi ponds. The final statement emphasizes that customer care and satisfaction is the top priority.
WisPolitics: Kelly Rindfleisch sentencing presentationwispolitics
PowerPoint presentation from Milwaukee County DA's office used during the sentencing hearing for Kelly Rindfleisch, a former county aide to Scott Walker who reached a plea deal to settle charges against her stemming from the long-running John Doe probe.
Read more about the story at WisPolitics.com:
http://wispolitics.com/index.iml?Article=284677
The document discusses lessons learned from 9 years of providing managed print services (MPS) to the public sector in Norway. It describes how MPS was implemented for the City of Bergen, including designing an optimized print environment across 557 locations, installing 3600 devices over 6 months, and achieving a 21% reduction in direct costs. Key lessons highlighted include taking a helicopter view to optimize spend, consolidate invoices, and control print usage through reporting and proactive management to save more with green printing.
The document provides golden rules for effective meeting planning and management. It recommends considering the perspective of participants, preparing an agenda and materials in advance, respecting people's time by starting and ending on time and sticking to the agenda, keeping discussions focused and relevant, evaluating if meetings are truly necessary, and wrapping up with clear next steps and responsibilities. Following these simple rules can significantly increase meeting productivity through preparation and discipline.
This proposal recommends buying shares of Activision Blizzard (ATVI) based on its strong subscription-based gaming model, leadership in the gaming sector, and opportunity for growth in the gaming industry. Risks include potential declines in popular game franchises and discretionary consumer spending. However, upcoming major game releases from Blizzard and the success of the Call of Duty franchise provide optimism for increasing revenues and market share going forward. The proposal suggests entering a position of $5,000 worth of shares with a target exit price range of $15-20 per share within 1-2 years.
Activision Blizzard, Inc. (ATVI) Initiating Coverage ReportAustinKane8
This document provides an initiation of coverage report on Activision Blizzard (ATVI). It summarizes ATVI's business segments including Activision, Blizzard, and King which develop and publish interactive entertainment content. It notes that while ATVI's stock dropped in 4Q18, the company has leveraged growth in digital distribution, in-game sales, and mobile gaming. The report sets a price target of $53.89 as ATVI expands its mobile offerings and evolves its games and content.
Activision Blizzard is the largest video game publisher and developer. It was formed in 2008 by the merger of Activision and Blizzard. In 2013, Activision accounted for 67% of revenue and Blizzard 26%. Activision focuses on console and mobile games like Call of Duty and Skylanders, while Blizzard focuses on online PC games like World of Warcraft, StarCraft, and Diablo. The company has a dominant position in the industry but also carries significant debt from its buyout from Vivendi.
Electronic Arts reported stronger-than-expected revenue in Q2 driven by FIFA sales, but shares fell after hours as guidance did not fully reflect the upside. The analyst maintains a Buy rating due to EA's digital strategy and potential to monetize franchises on new platforms. Estimates were revised slightly upward for Q3 and FY2011 to account for the delayed NBA Elite title. The price target is $19 based on a higher forward PE multiple relative to EA's franchises and digital focus. Risks include title performance and macro factors.
Animoca Brands corporate strategy update from May 2020 discussing how it is building the virtual asset class of the future with blockchain and games through true digital ownership
2015_03_24 Final Research Report - Zynga (FINAL COPY) PDFCourtney Fenwick
Voltron Capital Investments issues a hold recommendation for Zynga stock with a $3.10 price target, representing 14.8% upside from the current $2.70 share price. While metrics indicate Zynga is undervalued, concerns include overspending on intangible assets, uncertainty around new games, and lack of profitability. VCI advises holding Zynga until proven profitability through increased revenue, efficiency and cash flow justify a buy rating.
This document summarizes an investment portfolio containing stocks, bonds, CDs, and discusses whether to invest in money markets. It analyzes several companies' financials and stock performance including Raytheon, SAP, Netflix, and American Italian Pasta Co. It was decided not to invest in money markets due to low interest rates, high fees from banks, and concerns the economy is headed for depression. By diversifying investments across stocks, bonds and CDs maturing at different times, the portfolio is projected to achieve a 10.4% return over 3 years.
Williams Capital Research initiates coverage on Yahoo! Inc. with a Perform rating and a 12-month price target of $18.
Yahoo! currently trades at $16.51 per share. The report provides an overview of Yahoo!'s business segments, financials, and competitive position. It notes that Yahoo! gets the majority of its revenue from search and owned media properties. While search revenue has declined, the company expects display advertising to lead growth in the second half of 2010. The report rates Yahoo! as fairly valued at current prices.
Activision Blizzard is a leading video game developer and publisher. The company has a strong portfolio of franchises like Call of Duty, World of Warcraft, and Skylanders that generate steady revenues. While 2015 will see lighter new releases, the company is expected to benefit from higher margins from digital distribution and expanding into free-to-play games in Asia. The analyst recommends a buy rating for Activision Blizzard due to its industry leadership and potential for 15% upside, though notes risks include potential declines in core franchises and a weak 2015 outlook.
Bitspawn Esports Software Investment Deck Eric Godwin
Bitspawn is developing an esports platform to address problems in the growing industry such as unpaid player winnings and a lack of monetization opportunities. Their platform will provide automated tournaments, match reporting, payments, and connections to sponsors. This will help more players to be discovered and make a living from esports while giving advertisers access to the large esports audience. Bitspawn aims to become the leading esports platform through partnerships, promoted events, and supporting multiple game titles.
Activision Blizzard is a major video game developer and publisher formed in 2008. It faces slowing growth in its core franchises like Call of Duty. To drive future growth, the company is pursuing horizontal expansion into related areas like esports and mobile gaming through acquisitions. However, its $5.9 billion acquisition of King Digital Entertainment, creator of Candy Crush, may not generate meaningful synergies and could erase value if the mobile division fails to replicate past success. The company's growth strategy going forward remains unclear as it transitions away from its traditional franchises.
A quick and dirty preso put together for BarCamp3 in Sydney - pre roll ad to show that is what happens. Don\'t let the advertisers win - better models. 13 revenue models. Used gaming examples cos it\'s a dev/gamer crowd, with links to business social networks.
The document discusses 13 stocks and provides analysis on their current market prices, targets, and stop losses. It summarizes that Teradata, Discover Financials, and Sherwin Williams are up significantly year-to-date and have strong multi-year returns. It expresses bearish views on Nokia, Amazon, Zynga, and Facebook due to overvaluation or technical resistance. It recommends selling Campbell Soup due to stagnant growth and an unreliable dividend.
M&A in Gaming has hit record levels in 2013 and 2014 H1. For the first time, Corum Group has put together research M&A trending within the Gaming Ecosystem.
I gave this talk at Casual Connect SF July 2014 detailing increased appetite of Asian buyers and driving trends of innovation and interest activity across the gaming industry.
The document discusses emerging trends in games-as-a-service. It notes that lines are blurring between platforms with tablets and set-top boxes. Virtual goods allow for perfect price discrimination and enhance communities. Social games are monetized through conversion and advertising on dedicated platforms. Mobile games are seeing a rise in persistent games and are an extension of other platforms, though a few companies may come to dominate.
The document analyzes Bitstream Inc. (BITS) and recommends selling the stock. It finds that BITS is fundamentally overvalued, and that the positioning of its business lines limits growth potential. There are also operational concerns, such as a lack of focus on sales and marketing. The document examines weaknesses across BITS' various business units and concludes that the stock only offers 6% upside from the current price based on various valuation methodologies.
This document provides an overview of the digital gaming industry in winter 2020. It discusses the growing size and revenue of the digital gaming universe, which is expected to reach $152.1 billion in 2019. Mobile gaming continues growing in popularity, and the United States and China dominate the global gaming market with nearly 50% of revenue. The professional esports scene and streaming of games are also expanding rapidly. The document analyzes trends in hardware, software, and key public companies in the industry.
JBL Advisors initiates coverage on The Walt Disney Company (DIS) with an Outperform rating and $124 price target. Key points:
- Disney has a portfolio of uniquely profitable brands and franchises that make it a core holding for growth investors.
- Theme parks are benefiting from economic recovery and profitable expansion that will boost operating margins.
- ESPN and Disney's cable networks will continue to drive strong earnings growth over the next two years.
- Acquisitions of Lucasfilm and Marvel enhance Disney's creative resources across its businesses.
- The analyst forecasts double-digit earnings growth from 2015-2017 driven by contributions from most business segments.
- VC deal activity in the US increased slightly in Q2 2020 compared to Q1 2020, but was still down 18% compared to Q2 2019. Total funding amount was nearly flat from Q1 2020 but down year-over-year.
- A record number of 69 "mega-rounds" of $100 million or more occurred in Q2 2020, although total mega-round funding and deal share were relatively flat compared to previous quarters.
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Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Atvi Buy Proposal 20 Jan10 V1
1. Charles R. Blyth Fund
20 Jan 2010
Technology | Gaming
Activision Blizzard: Buy Erin Parker | ecparker@stanford.edu
Ryan Rosztoczy | ryanr2@stanford.edu
Joanna Xu | joannaxu@stanford.edu
Lionel Vital | lgvital@stanford.edu
Megan Kanne | mkanne@stanford.edu
Entry Price Band: $5 - $7
Market Data:
Exit Price: $15 - $20
Time Horizon: 1 – 2 years Ticker: ATVI
Position Size: $5,000 Current Price: $10.89
Shares Outstanding: 1,307 mm
Introduction 52-Week Range: $8.67 -
$13.14
Avg Daily Volume: 11.40 mm
Investment Thesis: We want to invest in ATVI for the following reasons: Market Cap: $13.81 bn
strong and unique subscription-based SaaS gaming model Insider Ownership: 62 %
leading publisher of software in gaming sector Institutional Ownership: 38 %
diversify our portfolio with exposure to high growth opportunity in gaming sector Dividend: N/A
Company Profile:
Activision Blizzard is a publisher of online, handheld, PC, and console games worldwide. They develop and publish a diverse offering of
videogames through their Activision branch which are sold in stores or online. These console, PC, and handheld games are retail items which
often carry a high one-time cost. Their Blizzard branch, alternatively, creates and sells subscription-based online games that provide consistent
revenue. These subscriptions are low cost monthly fees where revenue depends upon the number of subscribers. Activision Blizzard’s strategy
emphasizes market share growth based upon an increasing subscription base and popular retail game series.
Company Growth Direction: The recent merger of Activision and Blizzard benefits the revenue outlooks for the merged company. As the
popularity of Activision’s top videogame titles wanes, Blizzard prepares for huge releases and subscriber growth, especially in Asia. Activision
Blizzard is building a model to increase its market share by improving their competitive edge in both the online/subscription and retail realms of
the gaming industry. They are looking to duplicate recent successes including popular retail titles that reach wider audiences. The company is also
looking to increase subscription revenues by tapping international markets. With consistent market share growth, this company plans to become
an even bigger player in the gaming industry and continue their hegemony in online action/fantasy gaming.
Customers: ATVI’s customers are the consumers who enjoy their product. These or either retail or subscription customers, the former making
one time software and peripherals purchases and the latter making monthly payments for continued access to the product.
2. Charles R. Blyth Fund
20 Jan 2010
Competition: Other companies that publish video games either in retail or online. Examples of such companies include: Electronic Arts Inc.,
Sony Corporation, and Take-Two Interactive Software Inc.
Risks: Volatility created by game console wars. Revenue depends upon relatively small number of franchises as largest source of revenue.
Successful integration of Activision and Blizzard dependent upon management because Vivendi holds over 50% of commonshares implying that
ATVI is a controlled company. Thus, marketing, cost management, preserving development/distribution relationships, and overall coordination
of marketing/publishing/distribution are all key factors in how well ATVI performs. Industry and company will respond to drops in
discretionary income/rises in unemployment in 2010 based upon the discretionary nature of the product and the high number of casual gamers
that bolstered their most popular series. Recent insider trading may cast a negative light upon the company’s prospects.
Available Products: Activision: Call of Duty, Guitar Hero/Band Hero/DJ Hero, Tony Hawk, games based upon licensed properties from
LucasArts, Marvel, and DreamWorks Animation. Blizzard: World of Warcraft, Starcraft, Diablo.
Recent News
Call of Duty Modern Warfare 2 Surpasses $1bn in Retail Sales Worldwide: MW2 continues to set sell-through records since its launch in
November, in the first five days alone the game sold $550 mm worldwide, there are only a handful of entertainment properties that breach
the $1bn mark
Video Game Industry Prospects Poor: Console cycle is aging and demand for high-end systems has been satiated. Consumers continue
cutbacks in discretionary spending resulting in 13% drop in overall industry sales during November 2009.
Strong holiday season for Call of Duty: Modern Warfare 2: Sold six million units in December and made $310M on first day alone,
breaking videogame records.
Subscriptions Strong; Console Games Weak: Many of Activision’s aging console game series are seeing a drop in revenue and popularity
which is being balanced by increased subscriptions. Trend expected to continue in 2010 with three large upcoming Blizzard releases.
New ZBoard Keyset Based on StarCraft II: SteelSeries peripheral manufacturer created a customized keyboard in preparation for the
upcoming release of Starcraft II.
Guitar Hero Kicks Off 2010 With Great Downloadable Tracks: To jumpstart revenue from the Guitar Hero series, Activision released
downloadable singles on its website.
S&P Ups Rating To Strong Buy: Standard & Poor’s equity analyst Jim Yin raised ATVI to Strong Buy from Hold while noting its recent
fall with the industry. He quoted strong Call of Duty sales, subscription revenue, and expansion in China as optimistic signs for stock.
Financials and Valuation
3. Charles R. Blyth Fund
20 Jan 2010
Balance Sheet Trends
Cash has been steadily increasing from $354mm in 2006 to $2.9bn in 2008
There has been a similar trend in accounts receivable
More than half of the company’s assets are in Goodwill and Intangibles
While accounts payable and expenses have been rising accordingly the company has no long term debt
Revenue vs. Cost Growth
2006 2007 2008
Revenue 1468 1337.88 3026
% Growth -8.86% 126.18%
Cost of Revenue 940.36 382.02 1839
% Growth -59.38% 381.39%
SG&A 379.76 330.3 735
% Growth -13.02% 122.52%
R&D 132.65 384.81 592
% Growth 190.09% 53.84%
Income Statement Trends
Company made net loss of $107mm in 2008 because SG&A and R&D expenses surpassed revenue
As a result, retained earnings were negative
Cost of revenue grew faster than revenue in 2008
Cash Flow Statement Trends
Deferred tax liability account (as a result of differences in tax and GAAP accounting standards) means ATVI will have to pay more in taxes in
the future
Cash from operating activities is positive and has been steadily increasing from $86mm in 2006 to $379mm in 2008
Company has been making steady capital expenditures
Company has received most funding from stock issuances