Piper Jaffray Lowers Revenue Estimates For Activision Blizzard (ATVI)

Piper Jaffray released a company note on Activision Blizzard (NASDAQ: ATVI). The company will be reporting earnings on August 5th. Piper Jaffray analysts wrote that "We expect Activision (ATVI) will report June quarter EPS above guidance ($0.04 EPS) and the consensus ($0.05 EPS. We project sales declined 8% Y/Y and EPS will be $0.07." The firm has reduced its CY10 revenue estimates by $65 million.

Piper Jaffray has a Neutral rating on the stock and a $13 price target. During today's trading session, ATVI has gained 0.36% to $11.95. Activision Blizzard, Inc. (ATVI) is an online, personal computer (PC), console and handheld game publisher.