• Are Investors Undervaluing Churchill Downs Incorporated (NASDAQ:CHDN) By 23%?
    Simply Wall St.

    Are Investors Undervaluing Churchill Downs Incorporated (NASDAQ:CHDN) By 23%?

    Does the October share price for Churchill Downs Incorporated (NASDAQ:CHDN) reflect what it's really worth? Today, we...

  • Hedge Funds Have Never Been This Bullish On Take-Two Interactive Software, Inc. (TTWO)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Take-Two Interactive Software, Inc. (TTWO)

    At Insider Monkey we track the activity of some of the best-performing hedge funds like Appaloosa Management, Baupost, and Tiger Global because we determined that some of the stocks that they are collectively bullish on can help us generate returns above the broader indices. Out of thousands of stocks that hedge funds invest in, small-caps […]

  • Barrons.com

    The Next Videogame Cycle Is About to Begin. Here Are the 2 Stocks That Benefit Most.

    The game publisher was at the center of controversy after it suspended a top e-sports player for expressing his support of the Hong Kong protesters. The National Basketball Association and (AAPL)(AAPL) were also tripped up by the Hong Kong situation during the past week, with an NBA executive tweeting support for the Hong Kong protesters and Apple pulling an app that was used by them. Despite it all, Apple shares still closed at an all-time high on Friday, while Activision was only off 1.1% for the week.

  • 5 questions with EA Sports' Daryl Holt about his firm's downtown move
    American City Business Journals

    5 questions with EA Sports' Daryl Holt about his firm's downtown move

    The local head of EA talked about what the move may mean for the largest video game studio in Florida.

  • Professional esports Overwatch League in thick of media talks
    American City Business Journals

    Professional esports Overwatch League in thick of media talks

    The professional esports Overwatch League is in the market discussing possible renewals or new media deals.

  • A Prenup Is the Latest Must-Have for Tech Startup Founders in Love
    Bloomberg

    A Prenup Is the Latest Must-Have for Tech Startup Founders in Love

    (Bloomberg) -- The young woman in Monica Mazzei’s San Francisco law office was adamant: She wanted a prenuptial agreement.Never mind that the client had barely anything to her name. What she had was a bunch of startup ideas. She and her fiancé, who already had his own small tech company, signed a prenup with clear terms, Mazzei said: “The spouse who has an idea [and] starts a business ‘owns’ that business. It’s their baby.”A few years later, Mazzei, a partner at Sideman Bancroft, was traveling through the San Francisco airport when she saw her former client on a magazine cover. Her startup had struck gold. Her husband’s business had fizzled.In Silicon Valley, where penniless programmers fervently believe their ideas are worth billions, getting rich can take priority over getting married. California law assumes that any wealth created during a marriage is community property, which should be split equally in a divorce. That’s alarming not just for young entrepreneurs but also their investors.Divorce HavocFortunately, a well-written prenup is a safeguard against post-divorce havoc, which is why more and more young couples are insisting on the agreements, according to more than half-a-dozen lawyers in the Bay Area and elsewhere. Long popular with older wealthy couples who re-marry, prenups are also being demanded by entrepreneurs who want to keep future windfalls to themselves.“I am seeing more and more young people want to enter into prenuptial agreements who do not currently have a lot of money now but plan to have a lot of money someday,” said Manhattan-based divorce attorney Jacqueline Newman.In a 2016 survey by the American Academy of Matrimonial Lawyers, 3 in 5 divorce attorneys said more clients were seeking prenups in the past three years. About half said they’d seen a spike in the number of millennials requesting the agreements.“People’s concepts and notions of fairness when it comes to privately held businesses are changing,” said Mazzei, adding she’s seen “a tremendous increase” in prenups in the past eight years. “They feel that even if they’re married, this is their passion. The agreement should be reflective of that.”‘It’s Complicated’Today’s startup founders have plenty of prenup-writing forebears to emulate. Google co-founder Sergey Brin and Anne Wojcicki, who helped found personal genomics company 23andMe, had a prenup when they married in 2007. After they divorced with little fanfare in 2015, his stake in Google remained unchanged.“It’s complicated -- that’s all I can say,” Wojcicki told Bloomberg TV about the split.Oracle Corp.’s Larry Ellison has been married and divorced multiple times, but none affected his stake in the software company. Ellison is the seventh-richest person in the world with a net worth of $59.8 billion, according to the Bloomberg Billionaires Index.Still, a prenup hardly guarantees a smooth divorce. Judges can and do throw out the agreements, especially if they’re drafted poorly. “If you don’t put in the right language, a lot of prenups don’t do the job,” said Lowell Sucherman, a divorce attorney at Sucherman Insalaco in San Francisco.In 2017, One Kings Lane co-founder Alison Gelb Pincus, wife of Zynga Inc. founder Mark Pincus, challenged their premarital agreement in court while the couple was getting a divorce, according to a court filing. It’s unclear whether she prevailed as final terms of the divorce aren’t public.While venture capital firms don’t explicitly require prenups, they do demand legal language protecting their investments in the event a divorce court hands a chunk of a founder’s shares to an ex-spouse. So do other co-founders.Founders’ Control“Founders have wanted to ensure that someone else can’t suddenly come in and obtain some sort of founders’ control,” said Par-Jorgen Parson, a partner at venture capital firm Northzone, who has served on the board of Spotify Technology SA. “It’s just as often driven by the founders as by external investors. You don’t want to rock the balance of power.”Venture capital firms often demand that founders’ husbands and wives sign “spousal consent” forms. Such agreements determine who gets to vote for board members, and how and when shares can be sold. In the event of a divorce settlement (or death or disability), a founders’ spouse might end up with company shares. But, the agreements ensure that an ex can’t exercise much, if any, control over the company post-divorce.“We’re trying to make sure that people don’t become involuntary business partners with someone they don’t know, don’t like or who aren’t qualified,” said James Ficenec, a partner at Newmeyer & Dillion in Walnut Creek, California.Divorcing founders will often do anything to avoid handing over half of their shares in their startup.‘Keeping More’“Founders will try to negotiate keeping more of their shares,” said Michael Gorback, a partner at Hanson Bridgett. “You might balance it out some other way,” by paying exes in cash, a home or other investments.MacKenzie Bezos and Amazon.com Inc. founder Jeff Bezos divorced earlier this year, leaving her with a 4% stake and a net worth of $34.6 billion, according to the Bloomberg index. He kept 75% of the couple’s Amazon shares, and retains voting control of those she does hold.Amazon’s stock, of course, is publicly traded, which can make divorce negotiations easier.“One issue we come across very often is, ‘How do you value a startup?’” Mazzei said. Years before an initial public offering, a startup might have no profits or even revenue to speak of. A promising company could later go under -- or eventually be worth billions.Trust, CredibilityIn a divorce, “it can be quite difficult when you have a large asset that is illiquid,” said Lyssa Grimaldo, a wealth manager at San Francisco-based Wetherby Asset Management and a certified divorce financial analyst. Adding to the problem, she said: “One partner knows more about that asset than the other.”With enough billable hours, lawyers can usually sort out the legal ramifications of divorce. They’re less helpful in containing the chaos that a founder’s marital problems might create in the workplace or business relationships.“We have companies where the founder is the brand, and trust and credibility are core to the business,” said Ed Zimmerman, partner and chair of the tech group at Lowenstein Sandler in New York. “If you are investing in a company because you think the founder is amazing,” it can be alarming to learn that he or she is facing the distraction of an acrimonious divorce or custody battle, he said.If a divorce isn’t disclosed to key investors, they can lose trust in a founder who they thought they knew well. Then there’s sometimes other nasty fallout, of the sort that companies are increasingly sensitive to in the metoo era.“It would be great if we lived in a world where people who had marital problems didn’t manifest those problems by hitting on or dating people who worked at their company,” Zimmerman said. “Those kinds of things tend to be more problematic than who gets the shares.”(Updates with adviser’s comment in 23rd paragraph.)To contact the reporters on this story: Ben Steverman in New York at bsteverman@bloomberg.net;Anders Melin in New York at amelin3@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Electronic Arts' New Release FIFA 20 Becomes an Instant Hit
    Zacks

    Electronic Arts' New Release FIFA 20 Becomes an Instant Hit

    Electronic Arts' (EA) position in the video gaming market is likely to increase with the successful launch of FIFA 20.

  • American City Business Journals

    Local EA head: 'Clock's ticking' to build this in downtown Orlando

    Here's what's at the top of Electronic Arts' top local exec's wish list ahead of its move to downtown Orlando.

  • Penn National Gaming Banks on Sports Betting for Growth
    Zacks

    Penn National Gaming Banks on Sports Betting for Growth

    Penn National Gaming's (PENN) strong brand presence and efforts to expand its sports betting presence bode well.

  • InterXion (INXN) Surges: Stock Moves 6.7% Higher
    Zacks

    InterXion (INXN) Surges: Stock Moves 6.7% Higher

    InterXion (INXN) saw a big move last session, as its shares jumped nearly 7% on the day, amid huge volumes.

  • Activision Blizzard faces corporate culture crisis following gamer suspension
    MarketWatch

    Activision Blizzard faces corporate culture crisis following gamer suspension

    As Activision Blizzard Inc. faces a backlash from the gaming community for siding with China over the Hong Kong protests, one analyst is concerned that internal backlash within Blizzard may be more harmful for the company as a clash of corporate cultures comes to a head.

  • Tencent Gets ‘Wakeup Call’ From China’s Assertions of Patriotism
    Bloomberg

    Tencent Gets ‘Wakeup Call’ From China’s Assertions of Patriotism

    (Bloomberg) -- Tencent Holdings Ltd. can’t get a break.The National Basketball Association, Activision Blizzard Inc. and now one of its most important portfolio companies, Fortnite proprietor Epic Games Inc., have all sparked political controversy at a time of increasingly assertive Chinese nationalism online.A tweet by an NBA executive expressing support for Hong Kong protesters drew the ire of Beijing, throwing into question the billions Tencent has invested in the U.S. sports league. Then Blizzard, partly owned by Tencent, banned a gamer for endorsing Hong Kong’s pro-democracy movement, triggering a boycott of the company’s games for its apparent kowtowing to China. Most recently, Epic Chief Executive Officer Tim Sweeney tweeted his disagreement with the Blizzard action, eliciting calls for a boycott of its Fortnite game among Chinese players incensed by the perceived slight.At stake for Tencent are billions of dollars in ad and subscription revenue, along with its entire strategy of becoming a go-to destination for NBA broadcasts. Tencent had almost half a billion basketball aficionados tune in last season. That audience is now in jeopardy after Tencent halted game broadcasts in the wake of the Hong Kong controversy.“It’s a big wakeup call for Chinese tech companies,” said Mark Tanner, founder of Shanghai-based research and marketing company China Skinny.Tencent had just inked a $1.5 billion, five-year deal to stream NBA games online in China. Its suspension of broadcasts followed a similar move by state-backed CCTV.Tencent uses the online streams to sell ads, and the gargantuan scale of the audience drives its marketing business, which is expected to be a key driver of Tencent growth going forward. To spruce up its investment, Tencent has been developing memorabilia, entertainment shows and video games based on the NBA.“Advertising of Tencent sports will likely take a hit. NBA is the star of Tencent sports, so it could cause a contract of Tencent’s advertising growth further,” said Michael Norris, a Shanghai-based research and strategy analyst at consultancy AgencyChina.NBA China Woes Threaten Billions of Dollars, Decades’ WorkA single tweet from the Houston Rockets’ general manager supporting Hong Kong’s protesters was enough to spark a chain reaction, including an abridged history lesson by Alibaba Group Holding Ltd. Vice-Chairman Joe Tsai, majority owner of the Brooklyn Nets. Alibaba has also yanked Rockets merchandise from its online stores, causing harm to both the NBA and Alibaba’s bottom line.After initially apologizing, the league went on to express its support for staff’s freedom of political expression via a statement by Commissioner Adam Silver. That sparked another round of fury in China, threatening to prolong the clash and the blackout.The Chinese company’s shares have held up well so far, despite warnings from analysts including Citigroup’s Alicia Yap that the streaming freeze will hurt Tencent’s media ad revenue -- particularly if it extends into the regular season.But there’s more trouble ahead: Tencent’s gaming portfolio is spurring controversy too. For years, the WeChat operator took a hands-off approach with the startups and studios across its empire, reaping the benefits of importing Western content and technology for a vast Chinese market. Now the two are increasingly at odds, and Tencent is beginning to realize the downside to its passive approach.Blizzard’s stern reprimand of the pro-Hong Kong player was popular in China, but drew outrage from the U.S. to South Korea. Online, gamers called for a boycott of the company and proudly posted their cancellations.Then Epic CEO Sweeney jumped into the crossfire, explicitly giving Fortnite players the green light to discuss politics. The game maker is 40% owned by Tencent, but Sweeney is the controlling shareholder.His statement earned accolades in the U.S., but was shunned in China. “Tencent why are you not holding your dog on a leash? They are biting you in your face,” one person wrote on Weibo. Tencent spokeswoman Jane Yip didn’t respond to a request for comment.With its investments in Epic and Blizzard, Tencent has its brand on the line -- but little control.“Never have we seen this policing of China companies being extended to subsidiaries,” said Norris. “And that’s what Tencent is having to grapple with.”Over the years, Tencent and Alibaba have worked hard to remain on the good side of Beijing, with Tencent recently launching a patriotic game called Homeland Dream in time for the People’s Republic of China’s 70th anniversary celebrations. Both have also been called out by name in Senator Marco Rubio’s letter to President Trump as examples of how Chinese companies are used as tools to help “coerce American companies and American citizens to bend to Beijing’s will.”With its growing exposure to international markets and regulation, Tencent finds itself in the middle of a maelstrom of political, economic and cultural grievances. Eight Chinese companies -- two of which are backed by Alibaba -- were this week placed on a U.S. blacklist for allegedly being involved in human rights abuses of a Muslim minority in China’s Xinjiang region. That follows the Washington government’s discussion about whether to restrict pension fund investments into China.Tencent and the rest of China’s technology companies now have to consider risks they’ve never faced before.“They’re realizing they may not have as many friends as they thought they had across the Pacific,” said Tanner of China Skinny.(Updates with shares from the 11th paragraph)To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad Savov, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Were Hedge Funds Right About Souring On Electronic Arts Inc. (EA)?
    Insider Monkey

    Were Hedge Funds Right About Souring On Electronic Arts Inc. (EA)?

    Does Electronic Arts Inc. (NASDAQ:EA) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend […]

  • Tim Cook Defends Decision to Remove Hong Kong Maps App in Memo
    Bloomberg

    Tim Cook Defends Decision to Remove Hong Kong Maps App in Memo

    (Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook defended the company’s decision to remove a mapping app in Hong Kong, saying on Thursday that the company received “credible information” from authorities indicating the software was being used “maliciously” to attack police.Apple pulled HKmap.live from its App Store on Wednesday after flip-flopping between rejecting it and approving it earlier this month. Apple made the decision after consulting with local authorities, because it could endanger law enforcement and city residents. Cook echoed that sentiment in an email to Apple employees.“Over the past several days we received credible information, from the Hong Kong Cybersecurity and Technology Crime Bureau, as well as from users in Hong Kong, that the app was being used maliciously to target individual officers for violence and to victimize individuals and property where no police are present,” Cook wrote in the memo, a copy of which was obtained by Bloomberg News. He also said the app violates local laws.The company has been criticized for the move, and Cook addressed that. “These decisions are never easy, and it is harder still to discuss these topics during moments of furious public debate,” the CEO wrote. “National and international debates will outlive us all, and, while important, they do not govern the facts. In this case, we thoroughly reviewed them, and we believe this decision best protects our users.”Apple joins other foreign companies struggling to navigate the pro-democracy movement in Hong Kong as protests that began in June show no sign of abating. The issue has become a red line for those doing business in China, most recently drawing the National Basketball Association into a firestorm over a tweet supporting the protesters that caused partners to stop doing business with the league and state television to halt airing games. A growing number of American giants, including Activision Blizzard Inc., find themselves embroiled in controversies over the extent to which their actions are influenced by economic considerations in a vast Chinese market.Greater China, including Hong Kong and Taiwan, is Apple’s largest market after the U.S. The iPhone maker is also one of the most visible symbols of corporate America in the world’s No. 2 economy. Apple recently pulled the Taiwan flag emoji from some iPhones, underscoring the difficult balance the company must strike in supporting free speech while appeasing China.Google, which pulled out of mainland China years ago, confirmed on Thursday that the HKmap.live app is still available in the Play app store in Hong Kong. However, the internet giant removed a mobile game from the store for "attempting to make money from serious ongoing conflicts or tragedies." The game let players pretend to be Hong Kong protesters.Charles Mok, a legislative counselor in Hong Kong, said he was “deeply disappointed” by Apple’s move and contested the company’s reasons in an open letter to Cook.“There are numerous cases of innocent passersby in the neighbourhood injured by the Hong Kong Police Force’s excessive force in crowd dispersal operations,” Mok wrote in the letter, which he posted on Twitter. “Information shared using HKmap.live in fact helps citizens avoid areas where pedestrians not involved in any criminal activities might be subjected to police brutality.”Apple’s reversal came after the Chinese Communist Party’s flagship newspaper criticized Apple for letting the app into its store. Protesters in the city used HKmap.live to monitor police whereabouts and it facilitated illegal activities, the People’s Daily said in a commentary late Tuesday. But the app’s developers rejected that view.“We disagree with Apple’s claim that our app endangered anyone” in Hong Kong, the developer said in a statement.Asked about Apple removing the app specifically, Chinese Foreign Ministry spokesman Geng Shuang reiterated Beijing’s stance. “Recent events in Hong Kong are extreme, violent acts, challenging Hong Kong’s rule of law and order, threatening the safety of Hong Kong’s people, damaging Hong Kong’s stability and prosperity,” he said. “We should oppose such violence instead of supporting or condoning them.”Here’s the memo in full:Team,You have likely seen the news that we made the decision to remove an app from the App Store entitled HKmap.live. These decisions are never easy, and it is harder still to discuss these topics during moments of furious public debate. It’s out of my great respect for the work you do every day that I want to share the way we went about making this decision.It is no secret that technology can be used for good or for ill. This case is no different. The app in question allowed for the crowdsourced reporting and mapping of police checkpoints, protest hotspots, and other information. On its own, this information is benign. However, over the past several days we received credible information, from the Hong Kong Cybersecurity and Technology Crime Bureau, as well as from users in Hong Kong, that the app was being used maliciously to target individual officers for violence and to victimize individuals and property where no police are present. This use put the app in violation of Hong Kong law. Similarly, widespread abuse clearly violates our App Store guidelines barring personal harm.We built the App Store to be a safe and trusted place for every user. It’s a responsibility that we take very seriously, and it’s one that we aim to preserve. National and international debates will outlive us all, and, while important, they do not govern the facts. In this case, we thoroughly reviewed them, and we believe this decision best protects our users.(Updates with Google decision on mobile game in seventh paragraph.)To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Were Hedge Funds Right About Piling Into NetEase, Inc  (NTES)?
    Insider Monkey

    Were Hedge Funds Right About Piling Into NetEase, Inc (NTES)?

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]

  • Apple Pulls App That Tracks Police Activity in Hong Kong
    Bloomberg

    Apple Pulls App That Tracks Police Activity in Hong Kong

    (Bloomberg) -- Apple Inc. pulled the plug on an app that shows police activity in Hong Kong, reversing course yet again as violent pro-democracy protests wrack the city.The U.S. company said Thursday it decided to remove HKmap.live from its App Store after consulting with local authorities, because it could endanger law enforcement and city residents. That marks a return to its original position, where it initially rejected the app. After an outcry, the iPhone maker allowed it to run for a few days before Thursday’s decision. The see-sawing is unusual for Apple, which exercises rigid control over its app store, the foundation of its global iPhone ecosystem.Apple joins other foreign companies struggling to navigate the pro-democracy movement in Hong Kong as protests that began in June show no sign of abating. The issue has become a red line for those doing business in China, most recently drawing the National Basketball Association into a firestorm over a tweet that’s caused partners to stop doing business with the league and state television to halt airing its games. A growing number of American giants, including Activision Blizzard Inc., find themselves embroiled in controversies over the extent to which their actions are influenced by economic considerations in a vast Chinese market.“Many concerned customers in Hong Kong have contacted us about this app and we immediately began investigating it,” Apple said in a statement. “The app displays police locations and we have verified with the Hong Kong Cybersecurity and Technology Crime Bureau that the app has been used to target and ambush police, threaten public safety, and criminals have used it to victimize residents in areas where they know there is no law enforcement. This app violates our guidelines and local laws, and we have removed it from the App Store.”Greater China, including Hong Kong and Taiwan, is Apple’s largest market after the U.S. The iPhone maker is also one of the most visible symbols of corporate America in the world’s No. 2 economy. Apple recently pulled the Taiwan flag emoji from some iPhones, underscoring the difficult balance the company must strike in supporting free speech while appeasing China. Google, which pulled out of mainland China years ago, confirmed on Thursday that the HKmap.live app is still available in the Play app store in Hong Kong.Charles Mok, a legislative counselor in Hong Kong, said he was “deeply disappointed” by Apple’s move and contested the company’s reasons in an open letter to Chief Executive Officer Tim Cook.“There are numerous cases of innocent passersby in the neighbourhood injured by the Hong Kong Police Force’s excessive force in crowd dispersal operations,” Mok wrote in the letter, which he posted on Twitter. “Information shared using HKmap.live in fact helps citizens avoid areas where pedestrians not involved in any criminal activities might be subjected to police brutality.”Read more: Moment of Truth on China Is Coming for Rest of Corporate AmericaApple’s reversal came after the Chinese Communist Party’s flagship newspaper criticized Apple for letting the app into its store. Protesters in the city used HKmap.live to monitor police whereabouts and it facilitated illegal activities, the People’s Daily said in a commentary late Tuesday. But the app’s developers rejected that view.“We disagree with Apple’s claim that our app endangered anyone” in Hong Kong, the developer said in a statement.Asked about Apple removing the app specifically, Chinese Foreign Ministry spokesman Geng Shuang reiterated Beijing’s stance. “Recent events in Hong Kong are extreme, violent acts, challenging Hong Kong’s rule of law and order, threatening the safety of Hong Kong’s people, damaging Hong Kong’s stability and prosperity,” he said. “We should oppose such violence instead of supporting or condoning them.”How Far Hong Kong’s Emergency Law Can Go (Online Too): QuickTake(Updates with Mok letter to Apple CEO in sixth paragraph.)\--With assistance from April Ma and Sharon Chen.To contact the reporters on this story: Vlad Savov in Tokyo at vsavov5@bloomberg.net;Mark Gurman in San Francisco at mgurman1@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Activision Blizzard Stock Takes a Self-Inflicted Dip
    InvestorPlace

    Activision Blizzard Stock Takes a Self-Inflicted Dip

    The protests in Hong Kong have begun having an effect on American businesses and the stock market. Pressure from the Chinese government on companies that desperately want to build a presence in that country has resulted in pressure om several high-profile stocks.Source: Casimiro PT / Shutterstock.comThe latest victim is Activision Blizzard (NASDAQ:ATVI). When a professional gamer made a pro-Hong Kong statement in an interview, ATVI removed him from the tournament he was competing in, took away his tournament earnings to that point, and suspended him for a year. After the move made headlines and the company was criticized on social media for bowing to Chinese pressure, the negative PR helped drive Activision Blizzard stock to a 2.31% loss on Tuesday.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Activision Blizzard Suspends Hearthstone Player for a Pro-Hong Kong CommentHearthstone is a very popular online game. As of the end of 2018, 100 million people worldwide had played the game. It's not just casual players who are into the game, ATVI promotes it as an eSports title and it generates high profits. At a Hearthstone world championship tournament in Taiwan earlier this year, the prizes were worth $1 million. * 10 Super Boring Stocks to Buy With Super Safe Returns Over the weekend, at the Hearthstone Asia-Pacific Grandmasters tournament, ATVI ran into trouble. In a streamed post-match interview, a player, who called himself Blitzchung, put on a gas mask and said "Liberate Hong Kong. Revolution of our age!"In a move that ultimately ended up hurting Activision Blizzard stock, the company removed the gamer from the tournament, took away his prize earnings, suspended him for a year and severed ties with the individuals who had interviewed him. Activision Blizzard Stock Feels the ImpactAlthough the drama went down on Sunday, it was on Tuesday that ATVI really began to feel the heat. Protests against the move started on Twitter (NYSE:TWTR), became headlines and then started attracting the attention of politicians. And the politicians weren't very happy with ATVI. For example, Senator Ron Wyden tweeted:"Blizzard shows it is willing to humiliate itself to please the Chinese Communist Party. No American company should censor calls for freedom to make a quick buck."The Verge reported that some employees of Activision Blizzard were also lashing out at the company. Given the storm of negative press, it's not surprising that f Activision Blizzard stock took a hit. The China Effect The impact of the Hearthstone tournament news on Activision Blizzard stock is just the latest example of the effect of the tensions between the U.S. and China. The trade war between the two countries has had a big impact on the stock market, with tariffs and concerns about an economic slowdown hitting many companies. The protests in Hong Kong have only added fuel to the fire.The NBA is currently embroiled in a mess of its own because of a pro-Hong Kong statement that resulted in Houston Rockets merchandise being yanked from stores in China.The Hearthstone tournament situation hasn't been great news for ATVI. It's taken the shine off of ATVI stock after the successful launch last week of Call of Duty: Mobile -- which was downloaded 35 million times in its first four days. Investors can take solace in the fact that the damage inflicted on Activision Blizzard stock is expected to be short-lived as Twitter and the headlines move on to the next crisis.As of this writing, the author did not own shares of any of the aforementioned companies. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Activision Blizzard Stock Takes a Self-Inflicted Dip appeared first on InvestorPlace.

  • Calculating The Intrinsic Value Of Electronic Arts Inc. (NASDAQ:EA)
    Simply Wall St.

    Calculating The Intrinsic Value Of Electronic Arts Inc. (NASDAQ:EA)

    Today we will run through one way of estimating the intrinsic value of Electronic Arts Inc. (NASDAQ:EA) by projecting...

  • Things You Should Know Prior to Snap-on's (SNA) Q3 Earnings
    Zacks

    Things You Should Know Prior to Snap-on's (SNA) Q3 Earnings

    Snap-on's (SNA) robust business model and focus on value-creation processes are likely to drive third-quarter 2019 earnings. However, it has a soft sales trend.

  • JAKKS Pacific (JAKK) Stock Gains on Just Play's Buyout Offer
    Zacks

    JAKKS Pacific (JAKK) Stock Gains on Just Play's Buyout Offer

    JAKKS Pacific (JAKK) is likely to be acquired by Just Play. The deal is likely to be inked by the end of October.

  • New Stocks on the Argus Focus List
    Yahoo Finance

    New Stocks on the Argus Focus List

    Yahoo Finance Premium members have access to the full 30-stock Argus Focus List. Activision creates video games. The company’s top game franchises include “Call of Duty,” “Diablo,” and “World of Warcraft.” Activision acquired King Digital Entertainment, the producer of the “Candy Crush” mobile puzzle game, in February 2016.

  • Investing.com

    Stocks - U.S. Futures Flat Ahead of Trade Talks

    Investing.com - U.S. futures were flat on Thursday as investors remained cautious from mixed signals ahead of trade talks between the U.S. and China.

  • TheStreet.com

    [video]Activision's Hong Kong Controversy Is Shaping Up to Have Financial Consequences

    The backlash over the banning of an eSports player who voiced support for Hong Kong protesters has led to widespread boycott calls against Activision's Blizzard unit, which has considerable Chinese exposure.

  • Financial Times

    Games become hearthstone for HK protests

    Online gaming's avatars and virtual worlds have provided relative anonymity to Chinese users looking to show sympathy with Hong Kong's protesters but fearing repercussions. Repercussions came swiftly from the game's US publisher Activision Blizzard, which banned him for a year from esports and removed his Grandmaster status.  by the inappropriate comment” in a tweet last Friday by the general manager of the Houston Rockets, which said: “Fight for freedom, stand with Hong Kong”.

  • Amazon's cloud cam home raises privacy concerns
    Yahoo Finance Video

    Amazon's cloud cam home raises privacy concerns

    Amazon back in the spotlight over privacy concerns. Workers of the tech giant are reportedly viewing video clips from its cloud camera home device to improve its AI analytics. TechCrunch Senior Writer Anthony Ha, joined On The Move to discuss.