Nintendo sees shares surge after 3DS announcement
SINGAPORE (MarketWatch) — Asian stock markets were higher on Wednesday, cheered by gains on Wall Street, while Nintendo surged in Tokyo after saying it would release a new 3-D games console. Sentiment was buoyed by the Dow Jones Industrial Average’s 1.0% rise on Tuesday, to its highest close since Sept. 26, 2008, helped by news of a smaller-than-expected drop in U.S. existing home sales. The U.S. economic recovery is well underway and supports the bullish U.S. and Australian equities outlook, said Macquarie Equities in a note to clients. “The expected U.S. earnings recovery is dramatic, with calendar 2010 and 2011 earnings per share growth forecasts of 30% and 20% respectively,” the broker said. “Valuations remain attractive, with the U.S. market price/earnings ratio of 13.7 times, below the post-tech boom average of 15 times.”
September 14, 2011
[…] hit shelves) DSi XL and continued to embarrass at E3 with the Vitality Sensor. March 2010 saw a shock improvement in shares as the 3DS was announced – interest in the new technology was evident. However, […]