Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Deutsche Bank Downgrades THQ to 'Sell'

Deutsche Bank downgraded THQ (THQI) to sell from buy.

The maker of interactive entertainment software posted $0.12 vs. $0.09 third quarter earnings per share. Analyst Jeetil Patel says he thinks company-specific issues are impairing the growth outlook, vs. THQ's view that the weakness is industry-related. Patel notes that THQ's in-line third quarter earnings per share were achieved with a lower tax rate. He says other concerns include: Product sell-through lower than shipments into the retail channel; an estimated $100 million of products at retail; continued balance sheet deterioration; low accounts receivables reserves in light of the economic environment; and softness and increasing competition in the handheld segment. Patel cut his $1.30 2002 earnings per share estimate to $1.15, and cut the $1.60 2003 estimate to $1.20. He also cut the target to $12.

blog comments powered by Disqus