Apple, Walt Disney & Others Are Making Headlines Today as Dow Climbs Closer to 20K

Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY)‘s stock plunged on Friday and has lost around 4% so far today after the company had released its Super Mario Run on Apple devices. Even though the game racked up 2.85 million downloads on the first day, the stock has declined due to investors expectations from the game, having already been priced in before. Moreover, the $10 price for the game is considered a bold move by Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY), since most developers generate revenue by selling premium content, while offering the game for free. Overall, analysts estimate the game to generate revenue between $300 and $500 million and it represents Nintendo’s complete entrance in the mobile game market. Despite the recent declines, Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY)’s stock is still over 50% in the green year-to-date, due to the success registered by Pokemon Go.

JAKKS Pacific, Inc. (NASDAQ:JAKK)‘s stock is among the top losers today, as it has plunged by more than 30% since the opening bell, after the company lowered its revenue guidance for 2016. The company said it expects revenues of around $700 million, which is 7% lower than previously anticipated, while EPS is seen between $0.01 and $0.05. In a statement, JAKKS Pacific, Inc. (NASDAQ:JAKK) said the lower outlook is due to lower-than-expected sales registered in some key product lines. Smart money investors don’t seem particularly fond of JAKKS Pacific, Inc. (NASDAQ:JAKK), as just 12 funds tracked by us held shares of the company at the end of September, having amassed around 17.50% of its outstanding stock.

Last but not least, shares of Mitel Networks Corp (NASDAQ:MITL) opened higher, but have given up the gains and are currently around 1% in the red on the back of the company announcing that its mobile operations unit Mitel Mobility would be sold to Xura. The deal is worth $360 million in cash and $35 million in a non-interest bearing promissory note and equity interest in Sierra Private Investments, which owns Xura. Following the sale, which preceds Mitel’s failed attempt to acquire Polycom, which had been bought by Siris Capital, Mitel Networks Corp (NASDAQ:MITL) will streamline its operations and will focus it on unified communications or will seek another acquisition. Mitel Networks Corp (NASDAQ:MITL) saw 19 funds from our database holding shares at the end of September, versus 11 funds at the end of June.

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