- NetEase Inc (NASDAQ:NTES) looks to release the most-awaited Diablo Immortal mobile game in China on July 25, a month after its initially scheduled launch date in the leading gaming market.
- China’s most significant game company after Tencent Holding Ltd (OTC:TCEHY) won regulatory approval for the game co-developed with Activision Blizzard, Inc (NASDAQ:ATVI), following a controversial social media post that halted the rollout.
- A deleted social media post interpreted as criticism of Chinese President Xi Jinping caused the delay in the game’s release.
- Immortal garnered 10 million downloads in the first week after its international launch outside China on June 2.
- After a month-long suspension, China resumed licensing in April, but Tencent and NetEase failed to win approval in the three batches of approved titles.
- The update reflects relaxation in the Chinese regulatory environment as promised by the country lately.
- Price Action: NTES shares traded higher by 4.68% at $98.60 in the premarket on the last check Thursday.
RBC Capital Maintains Sector Perform on F5, Lowers Price Target to $175
RBC Capital analyst Matthew Hedberg maintains F5 (NASDAQ:FFIV) with a Sector Perform and lowers the price target from $200 to $175.
