Diamonds and Dogs
Take that Fortnite! Video game maker, Take-Two Interactive (TTWO) is up 9% to a nine month high following earnings. Take-Two actually missed earnings estimates as sales rose 46% to $422.24 million well above the $356.65 million estimate. Take-Two raises sales estimates for the current quarter and raised guidance for the full year thanks to gains from their games NBA 2K 20, Borderlands 3, Grand Theft Auto and Red Dead Redemption 2.
Mosaic (MOS) having a bad day. The U.S. fertilizer company is down 15% to a 52 week low following earnings. Mosaic cut its full-year earnings forecast and posted a lower-than-expected profit, as rains and flooding in the United States hit its volumes and phosphates margins. Severe flooding in the U.S. farm belt across Iowa, Nebraska, South Dakota and several other states delayed spring farming and has hit agricultural companies like Mosaic, which sell fertilizers directly to farmers. The weather woes are piling pressure on companies that are already grappling with the trade war between Washington and Beijing that has cut shipments of American farm products to China.