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The holiday shopping season is looking pretty bleak for retailers. Best Buy recently announced that it plans to hire fewer holiday workers than it did last year, and now new data from the consumer research group NPD suggests that Best Buy won't be the only chain stuck in a holiday sales rut.
Next week is going to be as eventful as ever on Wall Street. Watch for angry activist investors, gaming unveilings, and big brands being humbled by the numbers they have to report. Here are some of the items that will help shape the week.
Once upon a time, Nintendo was king of the video game consoles, but that day is long gone. Shares of Nintendo hit a five-year low this summer, wiping away any gains from the Wii era, and it took a steep operating loss to boot last quarter. Here's why there are no bonus lives in its future.
Wall St. was at it again last week, providing massive fodder for second-guessers and armchair CEOs. In this installment, we review trouble for non-Apple tablets, a get-rich-quick scheme from ailing Beazer Homes, bad numbers from Quepasa.com, and a shakeup at WalMart.com.
It sometimes seems like everything that's fun is also a potential threat to your health, so it's hardly surprising that 3-D movies, games and TVs have drawn fire from critics who worry that they could cause long-term eye damage. But eye care professionals say that the reverse may be true.
Nintendo is making a major push to clear out its Wii inventory as it gears up to unveil its successor to the gaming system next month. The company will cut prices on the Wii video game console to $149.99 from $199.99, and bundle four of its more popular games as a $19.99 set.
Under pressure to respond to competitors offering souped-up features for their video game systems, Nintendo announced Monday that it will offer a sneak peak of the Wii's successor in June. While consumers may love the shiny new system, the real question is how much it will cost.
A research firm that tracks video game sales reported that March hardware sales rose, but software sales plunged again. NPD claims that 23% of software sales in 2010 came from apps, but the industry isn't sure that its lagging sales figures can be entirely blamed on apps like Angry Birds.
In Hong Kong HSBC shares rose 1.5% before the company's announcement early today in London that it had missed earnings estimates. The gain helped push the Hang Seng Index up 1.4.% In China the Shanghai Composite advanced 0.9% and in Japan the Nikkei 225 Index added 0.9%.
Microsoft sold out of its Xbox video-game console in late December thanks to strong holiday-season demand, and may have product shortages in January and February as well, as the company's Kinect motion-sensor device has boosted the popularity of the system, the Seattle Post-Intelligencer reported.
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