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	<title>Evan Wilson</title>
	<link>http://ewilson.pacific-crest-research.com</link>
	<description>Pacific Crest&#039;s Entertainment Equity Research Hub</description>
	<lastBuildDate>Wed, 30 Sep 2009 16:09:31 +0000</lastBuildDate>
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		<title>ATVI: Raising Our Call of Duty Unit Estimate to 12.5 Million</title>
		<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>
		<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>
			</item>
	<item>
		<title>ATVI: Delays Blur; Reiterates Guidance, But Cautious</title>
		<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>
		<link>http://ewilson.pacific-crest-research.com/video-games/atvi/atvi-delays-blur-reiterates-guidance-but-cautious/</link>
			</item>
	<item>
		<title>Video Games: Checks Confirm Wii Price Cut</title>
		<description><![CDATA[=========================================
Event:
-We can confirm through our channel contacts that Nintendo will cut the price of the Wii this month to $199 from $249
-We are looking at the implications from the cut. Last week advertisements by Walmart, Target and Toys R Us showed a cut, so this will not&#160;be a total surprise
Continue reading >>
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Conclusion:
Positive for the video [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/video-games-checks-confirm-wii-price-cut/</link>
			</item>
	<item>
		<title>NPD Review: August U.S. Videogame Industry Sales Declined 15%</title>
		<description><![CDATA[August sales declined 15% year over year. NPD released August U.S. console and handheld videogame sell-through data (Aug. 2 through Aug. 29) last night after the market closed. Sales declined 15% year over year to $470 million versus our forecast for a 16% decline to $465 million, due mostly to catalog declines this year versus [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/npd-review-august-u-s-videogame-industry-sales-declined-15/</link>
			</item>
	<item>
		<title>August NPD Results</title>
		<description><![CDATA[
Event:
NPD just released August U.S. video game sales data

Conclusion:
Neutral. The NPD data was very close to our estimates for the industry and for each publisher. 
For ERTS &#8211; Modest negative. Even though the company hit our forecast for total sales, Madden missed our forecast by approximately 200K units. The 360 and PS3 beat our forecast. [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/august-npd-results/</link>
			</item>
	<item>
		<title>ERTS: CEO Memo Talks Down August Performance in Front of NPD Data</title>
		<description><![CDATA[
Event:
Bloomberg is reporting that ERTS CEO John Riccitiello sent an internal memo today to employees that says August industry sales were down for the industry and Madden &#8220;was also down with that trend&#8221;
Riccitiello: &#8220;It is discouraging that one of our highest-rated and best-marketed &#8216;Madden&#8217; titles in years is facing strong headwinds&#8221;
See article for more detail
Show [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/erts/erts-ceo-memo-talks-down-august-performance-in-front-of-npd-data/</link>
			</item>
	<item>
		<title></title>
		<description><![CDATA[
开心农场你做主 洛奇模拟人生之农场传说


]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/406/</link>
			</item>
	<item>
		<title>NPD Preview: August U.S. Videogame Industry Sales Declined an Estimated 16%</title>
		<description><![CDATA[
August sales likely declined 16% year over year. NPD will release August U.S. console and handheld videogame sell-through data (Aug. 2 through Aug. 29) after the market closes on Thursday, Sept. 10. We estimate that sales declined 16% year over year to $465 million due mostly to catalog declines this year versus last. The top [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/video-games/npd-preview-august-u-s-videogame-industry-sales-declined-an-estimated-16/</link>
			</item>
	<item>
		<title>SNDA: Beats in Scariest Quarter; 2009 Growth Rolls On</title>
		<description><![CDATA[
Shanda Interactive Entertainment Limited
Rating: Outperform
Price: $50.99
&#160;
Q2 EPS is much better than expected. Shanda reported Q2 revenue and EPS of $181.1 million and $0.90 versus our estimates of $180.7 million and $0.81. The EPS beat came from lower-than-expected costs of goods and development expenses. Shanda&#8217;s tax rate was also lower than expected, but it would have [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/china-online-games/snda/snda-beats-in-%c2%91scariest%c2%92-quarter-2009-growth-rolls-on/</link>
			</item>
	<item>
		<title>DIS to Buy MVL for $50/Share</title>
		<description><![CDATA[Event/Details:
More thoughts on the DIS/MVL deal
•	Financial implications for DIS: The deal will be dilutive in F10 (Oct.) by mid-single digits. It is expected to be accretive by F12.
•	Timing of closure: By the end of the year
Show details >>
expand(document.getElementById('ddet260054787'));expand(document.getElementById('ddetlink260054787'))•	Marvel’s 3RD party relationships: It doesn’t sound like Disney is intent on quickly cancelling or restructuring Marvel’s deals [...]]]></description>
		<link>http://ewilson.pacific-crest-research.com/entertainment/dis-to-buy-mvl-for-50sh/</link>
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