CNBC’s Jim Cramer said Tuesday that Activision Blizzard is in a better position in the short term than rival Take-Two Interactive.
The two video game companies announced earnings this week.
Activision Blizzard
shares Activision Blizzard It rose about 5.6% on Tuesday after the company reported a revenue outgrowth in its most recent quarter. While all eyes are on the antitrust case brought by the Federal Trade Commission, Cramer said MicrosoftIn a bid to acquire the video game publisher, he believes Activision Blizzard does not need the acquisition to continue doing well.
“I think Activision Blizzard is on fire here. I hope the Microsoft merger collapses as soon as possible, so that it gets a better buying opportunity,” he said.
Take two
shares Take-Two Interactive. Interactive It rose about 7.9% on Tuesday, making a comeback after slumping Monday on a quarterly revenue loss. Cramer noted that the company’s warning of changing consumer behavior due to difficult macroeconomic conditions was troubling.
But he predicted that the company, which produces the Grand Theft Auto and Red Dead Redemption series, would eventually release another hit game that would lead to a comeback.
“You have to believe in the shift to own this. It might be a little early after such a great race,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares in Microsoft.
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