Nintendo, Shell, MSG, and 2 Other Stocks Have Investors Talking This Morning

Ferro Rejects Low Bids

Ferro Corporation (NYSE:FOE) is in the spotlight today after Reuters reported that the chemical company rejected the acquisition offers from private equity firms Apollo Global and CVC Capital Partners for being too low. According to the article, the all-cash acquisition offers were below the company’s current stock price of around $14 per share. 22 funds in our system had a long position in Ferro Corporation (NYSE:FOE) at the end of March, down by three funds from the end of December.

Ocean Power Reports Earnings

After surging sharply over the past few trading days, including by 75% on Friday alone, Ocean Power Technologies Inc (NASDAQ:OPTT) shares are 16% in the red this pre-market after the company reported a fourth quarter of fiscal year 2016 loss of $2.08 per share on revenue of $0.1 million. In addition, the company disclosed that it received a second subpoena from the SEC on July 12, 2016, requesting information related to the company’s April 4, 2014 public offering. Management is cooperating with the SEC on the investigation. The number of funds that we track which had holdings in Ocean Power Technologies Inc (NASDAQ:OPTT) stood at two as of the end of March.

Pokemon Go to Expand to 26 Markets

Traders are watching Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY) today after the company launched the mega-hit augmented reality game Pokemon Go in 26 countries over the weekend. Even though Pokemon Go has been a smash hit in the United States, Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY) has held back on officially launching the game in many other markets, including its home territory of Japan, because the game’s popularity has overloaded its servers and caused significant game play interruptions. Although Nintendo’s servers are still overloaded and there are still crashes, the launch of Pokemon Go in 26 other markets is a good sign that the company is learning to adapt to the large demand for the game. If the success of Pokemon Go is sustainable and the game doesn’t end up being a fad, Nintendo will benefit substantially from its massive and thus far completely smitten userbase.

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