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	<title>Evan Wilson &#187; ATVI</title>
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	<link>http://ewilson.pacific-crest-research.com</link>
	<description>Pacific Crest&#039;s Entertainment Equity Research Hub</description>
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			<item>
		<title>ATVI: Raising Our Call of Duty Unit Estimate to 12.5 Million</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-raising-our-%c2%91call-of-duty%c2%92-unit-estimate-to-12-5-million/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-raising-our-%c2%91call-of-duty%c2%92-unit-estimate-to-12-5-million/#comments</comments>
		<pubDate>Tue, 29 Sep 2009 12:00:27 +0000</pubDate>
		<dc:creator>Evan Wilson</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[Games]]></category>
		<category><![CDATA[Call of Duty]]></category>

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		<description><![CDATA[Activision Blizzard, Inc.
Rating: Outperform
Price: $12.37
Raising our &#8216;Modern Warfare 2&#8217; unit estimate to 12.5 million from 9.5 million. Checks indicate that preorder totals for Call of Duty: Modern Warfare 2 (MW2) are the highest ever. Our checks extrapolate to 12.5 million units of sell-in in Q4&#8212;an increase from our previous estimate of 9.5 million, which we [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ATVI: Delays Blur; Reiterates Guidance, But Cautious</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-delays-blur-reiterates-guidance-but-cautious/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-delays-blur-reiterates-guidance-but-cautious/#comments</comments>
		<pubDate>Mon, 21 Sep 2009 13:02:00 +0000</pubDate>
		<dc:creator>Evan Wilson</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[Games]]></category>
		<category><![CDATA[game delay]]></category>
		<category><![CDATA[racing]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/video-games/atvi-delays-blur-reiterates-guidance-but-cautious/</guid>
		<description><![CDATA[=====================================
Event:
Activision announced it is delaying Blur, its first foray into the racing-genre. The game is now expected to come out in 2010
It reiterated its guidance for $4.05B and $0.63, but urged investors to be &#8220;cautious and prudent in evaluating the company&#8217;s forecasts&#8221;
Continue reading >>
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Conclusion:
Negative. The delay is somewhat disappointing, but the more cautious tone surrounding [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Rare Delays Prompt Lower Sales Outlook; Buy for Reiterated EPS</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-rare-delays-prompt-lower-sales-outlook-buy-for-reiterated-eps/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-rare-delays-prompt-lower-sales-outlook-buy-for-reiterated-eps/#comments</comments>
		<pubDate>Thu, 06 Aug 2009 12:11:12 +0000</pubDate>
		<dc:creator>Evan Wilson</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[Games]]></category>
		<category><![CDATA[earnings]]></category>

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		<description><![CDATA[
Activision Blizzard, Inc.
Rating: Outperform
Price: $11.55
&#160;
Activision posts Q2 EPS upside from higher margins, lower tax rate. Activision reported Q2 revenue and EPS of $801.0 million and $0.08 versus our estimates of $800.0 million and $0.07. It was able to offset a higher share count with higher margins and a lower tax rate. It delayed StarCraft II [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Q2 Looks Fine as Doubts Mount on This Much-Loved Stock</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-q2-looks-fine-as-doubts-mount-on-this-much-loved-stock/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-q2-looks-fine-as-doubts-mount-on-this-much-loved-stock/#comments</comments>
		<pubDate>Mon, 20 Jul 2009 12:27:44 +0000</pubDate>
		<dc:creator>Evan Wilson</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[Games]]></category>
		<category><![CDATA[Earnings Preview]]></category>
		<category><![CDATA[Morning Note]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/video-games/atvi-q2-looks-fine-as-doubts-mount-on-this-much-loved-stock/</guid>
		<description><![CDATA[
Activision Blizzard, Inc.
Rating: Outperform
Price: $11.70
&#160;
Q2 earnings should be in line or better. Activision should report Q2 results next week. We expect it to meet or beat Q2 forecasts. There is growing skepticism around this much-loved story based on a few rumors, largely insignificant business changes and lackluster industry sales. We remain confident in our forecasts [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>ERTS, ATVI, THQI: Electronic Arts E3 Press Conference</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/erts/erts-atvi-thqi-electronic-arts-e3-press-conference/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/erts/erts-atvi-thqi-electronic-arts-e3-press-conference/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 06:41:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[ERTS]]></category>
		<category><![CDATA[THQI]]></category>
		<category><![CDATA[beatles]]></category>
		<category><![CDATA[EASports]]></category>
		<category><![CDATA[GuitarHero]]></category>
		<category><![CDATA[MMA]]></category>
		<category><![CDATA[rockband]]></category>
		<category><![CDATA[tiburon]]></category>
		<category><![CDATA[UFC]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/?p=93</guid>
		<description><![CDATA[Event:
Electronic Arts held its E3 press conference on Monday. EA&#8217;s press conference had a few minor announcements that are of note.
Conclusion:
Modest positive for ERTS. EA announced solid sales of EA Sports Active and announced a few new titles that should have a modest positive benefit to upcoming quarters although neither of these things move our [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>MSFT Keynote at E3</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/erts/msft-keynote-at-e3/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/erts/msft-keynote-at-e3/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 06:35:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[ERTS]]></category>
		<category><![CDATA[THQI]]></category>
		<category><![CDATA[TTWO]]></category>
		<category><![CDATA[UBI.FR]]></category>
		<category><![CDATA[E3]]></category>
		<category><![CDATA[msft]]></category>
		<category><![CDATA[natal]]></category>
		<category><![CDATA[xbox360]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/?p=90</guid>
		<description><![CDATA[Event:
Microsoft presented its Keynote today at E3
Conclusion:
Modest Positive for ATVI, ERTS, THQI, TTWO, UBI. We believe Microsoft’s new technology code-named Natal (see details below) is a potential important addition to the 360 platform that will at least enhance it as a multimedia and casual game device. The further expansion of the casual games business is positive for the third-party publishers, especially because they [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>E3 Day 1: ATVI, NTES</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/e3-day-1-atvi-ntes/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/e3-day-1-atvi-ntes/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 06:24:20 +0000</pubDate>
		<dc:creator>Evan Wilson</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[Games]]></category>
		<category><![CDATA[NTES]]></category>
		<category><![CDATA[Blizzard]]></category>
		<category><![CDATA[CallOfDuty]]></category>
		<category><![CDATA[djhero]]></category>
		<category><![CDATA[E3]]></category>
		<category><![CDATA[GuitarHero]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/?p=87</guid>
		<description><![CDATA[






Event:
Activision Blizzard (ATVI, Outperform) held an analyst event on the first day of E3 (actually a day before the first day)


Conclusion:
Modest positive. Much of the discussion in the four hour event was on familiar trends that were not new to most investors. We do not believe anything extremely actionable came of the event. However there were [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Genius/Numark detail &#8216;Scratch&#8217; peripheral</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/geniusnumark-detail-scratch-peripheral/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/geniusnumark-detail-scratch-peripheral/#comments</comments>
		<pubDate>Thu, 28 May 2009 19:06:38 +0000</pubDate>
		<dc:creator>midds44</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[djhero]]></category>
		<category><![CDATA[scratch]]></category>

		<guid isPermaLink="false">http://delicious.com/url/ddba6ca3de0b2f1e5c502576329415c7#midds44</guid>
		<description><![CDATA[Competitor to DJ Hero planned for Fall release.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Schedule, Charts and Releases</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/erts/schedule-charts-and-releases/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/erts/schedule-charts-and-releases/#comments</comments>
		<pubDate>Wed, 27 May 2009 15:51:25 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[ERTS]]></category>
		<category><![CDATA[Empire]]></category>
		<category><![CDATA[Fallout]]></category>
		<category><![CDATA[Lef4Dead]]></category>
		<category><![CDATA[Sims2]]></category>
		<category><![CDATA[Spore]]></category>
		<category><![CDATA[WoW]]></category>

		<guid isPermaLink="false">http://ewilson.pacific-crest-research.com/?p=49</guid>
		<description><![CDATA[U.S. PC Games 5/10-5/16 &#8211; Publisher (Avg. Price)

WoW: Lich King  &#8211; Activision Blizzard ($39)
Sims 2: Double Deluxe &#8211; EA ($20)
Empire: Total War &#8211; Sega ($33)
WoW Battle Chest &#8211; Activision Blizzard ($35)
Left 4 Dead &#8211; EA/Valve ($29)
Spore &#8211; EA ($40)
World of Warcraft &#8211; Activision Blizzard ($20)
Fallout Trilogy &#8211; Bethesda ($20)
Fallout 3 &#8211; Bethesda ($42)
Sims 2: [...]]]></description>
		<wfw:commentRss>http://ewilson.pacific-crest-research.com/video-games/erts/schedule-charts-and-releases/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>NCTY sues ATVI in Shanghai court</title>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/ncty-sues-atvi-in-shanghai-court/</link>
		<comments>http://ewilson.pacific-crest-research.com/video-games/atvi/ncty-sues-atvi-in-shanghai-court/#comments</comments>
		<pubDate>Wed, 27 May 2009 15:45:34 +0000</pubDate>
		<dc:creator>midds44</dc:creator>
				<category><![CDATA[ATVI]]></category>
		<category><![CDATA[NCTY]]></category>
		<category><![CDATA[Online Games (China)]]></category>
		<category><![CDATA[asia/china]]></category>
		<category><![CDATA[lawsuit]]></category>

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		<description><![CDATA[For commercial defamation and property loss; Cases heard June 18th and July 18th

Unclear if the government will issue a license to operate the game before resolved]]></description>
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		<slash:comments>0</slash:comments>
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