Activision Blizzard Has Muted Rally After Q1 Beat, Mixed Guidance

Activision Blizzard, Inc. ATVI shares are trading higher by $0.33 at $53.43 in Friday's session.

After Thursday's close, the company reported a Q1 adjusted EPS beat of $0.14 along with a sales beat of $270 million. The company guided slightly higher for Q2, but expects FY 2017 to come under the current estimate of $1.95 at $1.80.

After a higher, Activision Blizzard continued in that direction and made a new all-time high at $54.75, which exceeds its former all-time high made Tuesday at $53.38. That elevated level has attracted some profit-takers and sent the issue through its opening print of $54.01 to as low as $53.34.

In order to post a new all-time closing high, the stock will need to end the session above Thursday's close of $53.10.