Diamonds and Dogs
9/11/12Shuffle Master Inc. (SHFL)
Shuffle Master saw its shares get discarded today, down 4.67% at $14.71. The casino gaming-device company saw its shares crash after a poor earnings report. For the third quarter, Shuffle Master announced earnings of $0.18 per share on revenue of $63.4 million. Although these numbers were up 9% from last year, they missed analyst estimates of EPS of $0.20 per share on revenue of $67.9 million. Management for Shuffle Master noted that the miss was based on increasing costs, which rose 50% to $50 million. Shuffle Master is trading around the middle of its 52-week range. The company will need to deal better cards to get investors to want to play their game.
Advanced Micro Devices Inc. (AMD)
Advanced Micro Devices is chipping away at its previous losses today, up 8.07% at $3.75. The computer chip maker saw shares climb off their lows after announcing a new investment opportunity. AMD said today that it has invested in CiiNow, a cloud-based video game company. The company has not disclosed how much money it had invested, however one representative was quoted saying, "The cloud gaming industry, which was once thought of as technologically impossible, is now disrupting the gaming market for both consumers and game publishers." Live-streaming games have been gaining momentum in the video game market, and AMD believes this deal will position them to benefit from the change.
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