Video Game Roundup: E3 Update, MSFT Unveils Project Scarlett

Video game stocks are having a busy week due to the Electronic Entertainment Expo (E3) 2019 held in Los Angeles between Jun 11 and 13.

Here are the major announcements:

Microsoft (NASDAQ:MSFT) announced its new console, Project Scarlett, which is scheduled for a holiday 2020 release. The company also showcased a plethora of new games and divulged more details on Xbox Game Pass for PC at the event.

Microsoft announced a number of games at E3 2019, including Halo Infinite, Gears 5, Blair Witch and others.

Further, Xbox unveiled the Xbox Elite Wireless Controller Series 2, which is loaded with 30 new features, including wraparound rubberized grip and adjustable-tension thumbsticks, among others. Moreover, it offers around “40 hours of rechargeable battery life.”

Microsoft also announced the acquisition of Double Fine Productions, the developer of Psychonauts and the upcoming Psychonauts 2. (Read More: Microsoft at Xbox E3 Briefing: Project Scarlett & More)

Nintendo (OTC:NTDOY) lost $1 billion in market value (per Financial Times) after the Japanese game developer delayed the release of Animal Crossing: New Horizons. The company now expects to release the game in March 2020 instead of 2019.

Nevertheless, Nintendo boasts a strong video game release slate for 2019. The Legend of Zelda: Link’s Awakening is set to release on Sep 20. Per Bloomberg, Astral Chain, a Switch-exclusive game, is scheduled for release on Aug 30.

Regarding two of its most anticipated games — Luigi’s Mansion 3 and The Legend of Zelda: Breath of the Wild 2 — Nintendo assured that the former is on schedule. However, at E3, although the company showed a teaser of The Legend of Zelda: Breath of the Wild 2, it failed to provide a release date.

Electronic Arts (NASDAQ:EA) showcased gameplay from Star Wars: Jedi Fallen Order at E3. The second season of the company’s hugely popular Apex: Legends is set to release on Jul 2.

EA unveiled a strong gaming portfolio at E3 that includes Battlefield 5: Chapter 4, The Sims 4 Island Living, FIFA 20 and Madden 20.

Another big game publisher, Take Two Interactive (NASDAQ:TTWO) , showcased The Outer Worlds that will be available on the Xbox devices, PlayStation 4 and Windows PC on Oct 25, 2019.

Apart from The Outer Worlds, Take Two is set to release Ancestors: The Humankind Odyssey and Borderlands 3. (Read More: Take Two Set to Launch The Outer Worlds on Oct 25)

Year-to-date Performance




Other Game News

Cyberpunk 2077, featuring Hollywood actor Keanu Reeves, created most buzz at E3 this year. Developed by CD Projekt Red, the game is set to be released on Apr 16, 2020, on X-box One, PlayStation 4 (PS4) and PC.

Reportedly, FromSoftware, developer of the Dark Souls series and Activision (NASDAQ:ATVI) published Sekiro: Shadows Die Twice, and Game of Thrones writer George R.R. Martin are collaborating on a new game called Elden Ring. The game is expected to be released on Microsoft’s Xbox One and Windows PC.

Doom Eternal, sequel of Bethesda’s 2016 hit game Doom, is set to launch on Xbox One, PS4, Nintendo Switch and PC on Nov 22, 2019.

Ubisoft made several announcements, including a new game subscription service. Priced at $15, the service will allow users to access 100 Ubisoft games. Notable upcoming game, Watch Dogs Legion, is set for a Mar 6, 2020, release.

Other Hardware News

Sega Genesis Mini is set to launch in September 2019. The device will have a number of mini games, including Sonic the Hedgehog 1 & 2.

Some Notable Upcoming Games

• Activision is set to launch Crash Team Racing Nitro Fueled on Jun 21
• Per IGN, Sega’s Judgment is set to be released on Jun 25
• Per Gamespot, Super Mario Maker 2 for Nintendo Switch is set to release on Jun 28

Zacks Rank

Currently, EA and Microsoft have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Activision, Nintendo and Take Two carry a Zacks Rank #3 (Hold).

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