The Latest Breaking News from Omar Dessouky

"We think it’s in Take-Two's self-interest, as a publisher and partner to many developers, to raise the price point for the entire industry"

It's for the good of the games industry, you see.

Roblox Corp (NYSE:RBLX) is experiencing a significant market shift, with second-quarter bookings and user engagement metrics signaling a robust recovery, despite a mixed financial report.

The highly anticipated Grand Theft Auto 6 video game from Take-Two Interactive Software Inc (NASDAQ: TTWO) was officially confirmed by the company earlier this year b

Electronic Arts Inc. (NYSE: EA) shares traded higher by 1.5% on a down day in the market on Tuesday following unconfirmed media reports that EA has been aggressively pursuing a sale of the company.

While the COVID-driven joiner-churn in the interactive media sector is likely to have subsided, increases in gamer budgets may persist, according to BofA Securities.

BofA analyst Omar Dessouky reinstated coverage of Roblox Corp (NYSE:RBLX) with a Buy rating and $84 price target, calling the company the "category leader" in the emerging "Metaverse" media category. The price target implies an upside of 20.8%. Roblox has no "old media" businesses to cannibalize and invests 100% of its resources exclusively towards leadership…