Market Overview

Reports Of Developer Shakeup On 'Call Of Duty' Hit Activision Blizzard's Stock

Share:
Reports Of Developer Shakeup On 'Call Of Duty' Hit Activision Blizzard's Stock

Reports of a big developer shakeup on the "Call of Duty" franchise had shares of Activision Blizzard, Inc. (NASDAQ: ATVI) tumbling Monday.

What Happened

Gaming industry website Kotaku reported Sunday that development on next year's version of the game was in "major upheaval," after the publisher notified the two studios that had been leading the project, Raven and Sledgehammer, that they'd no longer be in charge of it. Kotaku cited three unnamed sources in reporting that Treyarch will lead development on a new "Call of Duty Black Ops 5" for 2020.

Activision Blizzard is "apparently consolidating Call of Duty studios, which makes investors fear delays," Wedbush analyst Michael Pachter told Benzinga.

Why It's Important

The move would be a major shift for the company's first-person shooter franchise. Treyarch was the lead studio on Black Ops 2, 3 and 4. Raven and Sledgehammer will serve as support studios for the new game, according to the Kotaku report.

Activision Blizzard shares were down 6 percent to $43.58 at time of publication.

Related Links:

Activison Blizzard Misses Q4 Sales Estimates, Announces Layoffs

Morgan Stanley: Activision Blizzard Has Multiple Catalysts In 2019

Latest Ratings for ATVI

DateFirmActionFromTo
May 2020Deutsche BankMaintainsHold
May 2020CitigroupMaintainsNeutral
May 2020SunTrust Robinson HumphreyMaintainsBuy

View More Analyst Ratings for ATVI
View the Latest Analyst Ratings

 

Related Articles (ATVI)

View Comments and Join the Discussion!

Posted-In: Call of Duty Michael PachterAnalyst Color Top Stories Exclusives Analyst Ratings Tech Media Best of Benzinga

Latest Ratings

StockFirmActionPT
OCGNChardan CapitalMaintains0.700
ZMB of A SecuritiesMaintains240.0
PTONB of A SecuritiesMaintains54.0
IRBTB of A SecuritiesMaintains77.0
DKSB of A SecuritiesMaintains45.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com