activision down about 12% since its march high, take 2 down about 60%.oe: this is an independent gaming game that is so popular that it is sucking away energy and time from other games? that is the concern. in the past, when you have seen a big new game come out, it helps all of the gamers because maybe you migrate to a new one. scarlet: full on addiction for a certain subset of people. thank you so much. the market closes next. we are way off our lows. the dow and s&p down 1.5%. ♪ ♪ >> the new stocks are in the s&p is back above its 200 day moving average. i am julia chatterley. scarlet: i'm scarlet fu. >> i am joe, and if you are tuning in live on twitter, we want to welcome you to our live coverage every day from 4:00 to 5:00 p.m. eastern. scarlet: our markets minutes. we did not get much headlines on the china trade negotiations today. julia: that was the whole point. they promised not to say anything. scarlet: saw stocks with a little bit of relief. >> we are off by about 1% at the lows of the day. scarlet: absolutely. once the 5% the -- declines fo

activision earned 38 cents a share, revenue rose by 15% to more than $1.3 billion. and the stock closed the regular session lower, despite an early release of that better than expected report. julia has more for us. >> reporter: activision reporting better thante exp results, showing the growth of fortnight from epic games is having no impact. activision blizzard's own dital businesses are thriving, hitting record first quarter revenue.e eo saying as we look ahead, initiatives will continue to drive growth for our business. the company just launched its inaugural regular season overwatch in januy, and says it's reaching millions of viewers every week, leading to increased hou playing the game. more growth is expected with the playoffs coming this summer. >>> some expected rival games like fortnightose a threat. it quickly became one of the most popular games out there. julia is back with a look at the fast rise. >> reporter: fortnight is three to play, and accessible across consoles, and mobile u devices. yon play with your friends, as many as 100 players can anrtic

on the docket, activision, g gopro, and more.his is "closing bell" and we're back in a flash. le and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal service. priority: you i'm not really a, i thought wall street guy.ns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade we use our phones the same way these days. so why do we pay to have a phone connected when we're already paying for internet? shouldn't it all just be one thing? that's why xfini

take a look at activision intraday, what happened is the earnings were accidentally released. you can see the normal session. there was a drop in the stock and it activision had to release the call report and there was a spike. all of the gaming stocks, the actual reports beating the second quarter estimates. wild ride, like a videogame. let's take a look at after hours because we are seeing a wild ride there. the internetlly, radio service, subscription business grew. after hours.ing it weight watchers, can you believe this stock? 7%.after hours, it is up the latest report shows that clients are flocking to the company. aake shack also reporting very strong after-hours report. all of them beating estimates. thingsu, one of the key we are watching today, those big job numbers. we've got the weekly appointment first. what was the reaction? su: really positive. investors say you do have signs of a stronger economy. there is a market spooked by this wording from the fed. jobless data below estimates. tracks this. what we can take a look is, i'm going to have you take a look at so

the stocks of electronic arts, activision and take-two interaction, they sold off hard.hen we heard from these companies, the numbers were excellent, and the stocks have caught fire. consider take-two interactive, the company responsible for grand theft auto, red dead redemption and other titles, like wwe 2-k-18. this stock was already running off of the pin action from activision it's up about 25% from its early april lows that's the context you need to understand when looking at the quarter they reported last wednesday night. the numbers were a little complicated. even though take-two gave you strong top and bottom lines, guidance was tepid they pushed out a new release, but the stock shrugged it off and rallied. everybody is focused on red dead redetermi redemption two let's take a look with strauss zelnick, the ceo welcome back to "mad money." >> thanks for having me. >> first, a lot of people buried the lead i'm going right there. 25 years, happy anniversary. >> thank you very much i've only been there 11. >> all right still what it says is this franchise is still g

. >>> activision blizzard's first quarter results easily beat forecasts.ompany did not put out major new titles, it benefitted from in-game spending for games like call of duty and candy crush sack ga. activision blizzard shares are down 1.2% in the early hour. >>> time for the top trending stories. if you look at what's going on, evacuations are under way in hawaii's big island as a volcano begins to erupt. you are looking at images from mount kilauea, you can see lava moving, smoke and ashes shoot nothing the sky. kilauea is hawaii's most active volcano. i guess i'm a west coast guy, i grew up vacations in hawaii with my family. volcanos are part of the equation out there it's always stunning from a natural disaster standpoint to look at just how forceful some of this is >> this is a pretty active volcano, correct we've seen this in the last several years have activity that sparked other evacuations. >> just the hawaiian islands in general. even if they're not fully going like kilauea, there's always a threat of something happening. >> beautiful but dang

second trade, michelle, activision, atvi activision, blizza blizzard, of course. i'm seeing strong buying upside calls at about the 771.15 i'll probably be in that trade two tour three weeks >> pete, what are you seeing in your unusual activity? >> yeah, i've got a couple of them as well, jon yesterday touched on cliffs, clf they were buying deep in the money calls and it's already hit twice on our systems, michelle now, interesting to see, on the deep on the money, it's october 9 calls, the material-based energy is the hot area to be but the october 9 calls, 10,000 of those bought today. people expecting this stock not only to make the move higher but it's going to continue to make the move higher. that one stands out to me, plus the twice that it actually hit twice today. aig is my second one now, aig, financial services, insurance, this is pretty interesting as well. ubs out with an upgrade on the stock, that might be part of what's going on here they talked about the meet and beat sort to november and they're buying the november '60 calls for about a dollar i

but i like activision, take two, a reason it's lower, that's basically flat year-to-date. i would play -- instead of buying ea at these levels i'd be activision. >> jpmorgan initiated may 1st, 150ds price target people knock this on valuation they are wrong, a lot of room in this stock i disagree with take-two. >> deirdre was mentioning pop polar fortnite, esports how big that is in terms of eyeballs, could be a real sport. remember back in the days when disney was reportedly making a bid for ea >> would that kind of deal be interesting today? >> i'd rather see disney make the deal that's the new distribution platform rather than old tech, new tech tim talked earlier the idea software is eating everybody's lurch out there. why wouldn't you want to do this the growth area? look at esports games. madison square garden, the expert apparently. he was there early, they filled the arena. >> e supports correspondent. >> i am now chief esports correspondent. guys, behind me, margins on these things going higher not lower. global reach going higher. i like the valuation even though

you look at stocks like activision, ea they were down 17, 19% in march, on fears that ft.ze their businesses our call back in march was, you should buy the group, the stocks came through, the earnings, the stocks have rebounded strongly through earnings earnings did look solid, ft. night remains the focus now. we're still watching it headed into the back half of the year >> i know you're a gaming analyst. there's potential here beyond gaming always merch when you have these successful franchises. who else is capitalizing >> i think in a the winners coming out of fft. night, it's amazon they acquired twitch back in 2014 for $12 billion they're generating audiences that exceed cable networks back in 2013 $330 million investment if you assume the data i've seen that suggests that ft. night is monetizing a $2 billion revenue companies like ea and activision trade at 11 times current year revenues i think we call that investment a home run ithink turtle beach has been a real winner you're right, people are buying merchandise, the t-shirts, collectibles at game stop. so we see a

i was going to ask if eric hadn't mentioned it about fortnite because for activision it seemed like aifference in the game mix here. >> i'm not savvy enough on the content library. >> my peers who have kids of age, they say they're just, like, in deep with fortnite. >> e with just heard the same thing. it's all fortnite. he said i want a pc so badly which is a line i didn't think i'd hear again based on the last couple of decades. anyw anyway, thank you for joining us today. there's still a lot more ahead on "the closing bell." >>> ahead, much more on cisco's quarterly report, the stock, and the sector plus, are the wheels falling off the logistic system? see how dire a truck driver shortage has become. and climbing a media mountain. does les moonves have a secret weapon in his battle with sherry redstone "the closing bell" with kelly evans live from the new york stock exchange is back in two stock exchange is back in two minutes. not that kind of break. oooh! that had to hurt. aflac?! not that kind of hurt. c paid us cash in just one day to help with our car payments and mortgage. af

they saw over 50% growth or close to 15% growth for aruba, one of the best activision's -- acquisitionsve ever done. they are executing really well. i think they have to prove that execution as they get into this next phase. emily: who are the competitors that hpe really needs to worry about? crawford: look, this is becoming a two-horse race very quickly, and that's dell. those two companies compete across a wide theater of products, whether it is storage, servers, other kinds of infrastructure. they are on the periphery. dell has invested in things like pivotal. there are areas where hp has invested -- hpe has invested most recently and also in wireless. that's the big competitor, the at-scale competitor. if you get a little bit more niche-y, to get into lenovo, netapp. this wide range computer business is really becoming a two horse race between those two companies. cisco is there for parts of the business as well, but more for pure networking. emily: we've talked a lot about how -- michael dell has always said bigger is better. meg whitman said smaller and leaner is better. does eith

activision and qualcomm are there.gs moves there cbs reporting a beat shake shack having its best day since 2015 and pandora on pace for its best day since 2013. >>> so for more on the markets, let's bring in lindsey bell, investment strategist and chris burleson, president and chief investment officer thanks for joining us. lindsey, you always have a good feel for earnings season just recap for us, because what we've heard is, what, 20 to 25 profit growth and better sales numbers as well. >> exactly this has been an outstanding quarter. q1, we're seeing earnings growth around the 23% mark and 77% of companies are beating on their bottom line estimates. 74% are beating on the top line estimates. this has been a blowout quarter in all measures and guidance has been very good we've seen companies guiding up, not guiding down we've seen 2018 earnings growth increase to over 20% usually we see numbers come down at this point in the earnings season, so overall, it's been great. but the market hasn't reacted much >> not much

were leaked on a media outlet it's unclear where those numbers came from, but activision is set to releasel today you see this stock now halted. it was down 5.1% the stock is currently halted for news pending that usually happens when a company requests those halts, so we're standing by and we'll be back with any more details back to you. >> julia, thank you. >>> the oil market is closing for the day, so let's go to jackie at the cnbc commodity desk >> hey, sara well, crude turning positive when equity started to stage their comeback it didn't take a lot to turn oil higher the bias in the trade has been higher, it's been there for some time traders telling me it seems like crude has wanted to push through $70 for a while but just need a catalyst what's it going to be? it could come if president trump decides to pull the plug on the iran deal. it could come around labor day when consumers start the summer driving season it could come as stocks move higher and it could be some combination of all of those. >> got it. thank you, jackie. >>> so all the buzz over buybacks is overshadowing meinel

activision revenue forecast trailed estimates. shares were halted.xpected training in about 10 minutes. dick's sporting goods is pushing harder for gun control. according to a form last month, a group to has hired lobby on the matter. the big benchmark is under pro by the trading -- under probe by the trading commission. guage markstility investor sentiment. this is your business flash update. scarlet: a reminder that we can always recap the truck -- recap the charts for you are you can check them out yourself. ,go>is gtv go>< . causecash flow, enough to some consternation in the conference call. ♪ julia: this is "bloomberg markets." julie: joining me today is the chief strategist at optimum brokers. today was another had scratcher. we have had an increasing number of those over the past several months but we have seen stocks kind of bounce back up to unchanged. was there any catalyst? thet is not clear what catalyst was in either direction. i think that that kind of a continuation of yesterday's selloff and negative earnings news which has sort of b

. >> thank you ea shares up 3%, and activision with strong results, quelling concerns about fort knightcents from this time last year. joining us by phone is the co-founder of oil price information service, tom, checking in with you on where do you think the gasoline prices are headed now as things -- especially after today's announcement >> caller: well, kelly, i think it's going to be trouble for mr. iger and disney. i think despite, you know, everything you hear out there that we are headed for higher prices, not so much because of the trump action on iran, but global demand exceeding supply by a million barrels a day in the middle third of the year it's not long term, but you're going to have higher numbers and could have drastically higher numbers if you have tropical storm weather during the summer. we don't have a gasoline glut or a comfort zone >> bill, did you hear that trouble for disney >> everybody thought everything's trouble for disney for about the last 70 years. 80 years so, now, look, the stock's at 14 times earnings it's a clearly superior company for decades with mass

among the other gain ers today, activision, and heinz, and buffet holding, and also here, nasdaq saw six ipos, the most in one day since 2010 the biggest gainer, carbon black, up about 27% after having priced well above the range at $19 a share. wilf >> thank you very much for that. joining us right now to discuss further is new york stock exchange trader, art cashin, director of ubs financial services, art, good afternoon. >> good afternoon. >> thank you for joining us. how big is the 800-point broader market turn around since 11:00 a.m. yesterday staring declines in the face, and now back to flat >> you were staring more than declines in the face when you broke the 200-day moving average, there was a trap selloff, paused, rallied, and started to roll over, traders held their breath, they did not make a lower low that's what started the rally. had we made a lower low, i think you'd be about 1,000 points below where we are right now so the game's not over we'll keep testing this is like someone with a minor heart attack, and they want to know how strong do i feel can i thmake it to t

and factory orders as for earnings, kellogg's, xerox, blue apron before the bell after the close, activisionlizzard, cvs and shake shack. >>> let's get a check of the markets from steve masutto and joe zock steve, what did you make of the fed's language yesterday the markets had a mixed interpretation >> i think there was a lot of mix. a lot of people jumped on the symmetric statement saying the fed would be aggressive tightening on the upside of 2% as they were easing on the bottom side. that's the wrong approach to what the fed was saying. the fed was saying a band around 2% is comfortable for us either below, slightly above >> for inflation >> for the inflation target. they got back to the inflation target we're already into the second longest expansion in history we got back to a target. this concept that they'll run out and tighten overly aggressively is just wrong-headed doesn't mean they won't raise rates. they are i think they're incorrect in doing that they'll continue to do that and flatten the yield curve which will be a problem over the long haul that's why the equity market is h