shares

Japan’s Marvelous shares jump 17% as China’s Tencent takes 20% stake

FILE PHOTO: People visit Tencent’s booth at the World 5G Exhibition in Beijing, China, Nov. 22, 2019. REUTERS/Jason Lee

TOKYO (Reuters) – Shares in Japan’s Marvelous Inc on Tuesday closed up 17% at their daily limit of 682 yen after the games maker announced China’s Tencent Holdings Ltd would take a 20% stake.

Tencent will spend around 7 billion yen ($65 million) acquiring shares from Marvelous and its largest shareholders, Amuse Capital and its chief executive, Hayao Nakayama, a former Sega executive whose son founded Marvelous. It will pay 576 yen each – 1% below Monday’s undisturbed closing price.

Marvelous said in a stock exchange filing it plans to use the funds to launch games franchises and for overseas expansion of current titles, which include farming simulator Story of Seasons: Friends of Mineral Town for Nintendo Co Ltd’s Switch console and cross-platform shooter Daemon X Machina.

The investment is the

Read More

Japan’s Marvelous shares untraded as China’s Tencent takes 20% stake

FILE PHOTO: People visit Tencent’s booth at the World 5G Exhibition in Beijing, China, Nov. 22, 2019. REUTERS/Jason Lee

TOKYO (Reuters) – Shares in Japanese games maker Marvelous Inc were untraded with a glut of buy orders on Tuesday and looked set to close up at the daily trading limit of 17% after announcing China’s Tencent Holdings Ltd would take a 20% stake.

Tencent will spend around 7 billion yen ($65 million) acquiring shares from Marvelous and its largest shareholders, Amuse Capital and its chief executive, Hayao Nakayama, a former Sega executive whose son founded Marvelous, for 576 yen each.

Marvelous said it plans to use the funds to launch games franchises and for overseas expansion of current titles, which include farming simulator Story of Seasons: Friends of Mineral Town for Nintendo Co Ltd’s Switch console and cross-platform shooter Daemon X Machina.

The investment is the latest example of an

Read More

Spotify new home for Joe Rogan’s podcast, shares jump

FILE PHOTO: A trader is reflected in a computer screen displaying the Spotify brand before the company begins selling as a direct listing on the floor of the New York Stock Exchange in New York, U.S., April 3, 2018. REUTERS/Lucas Jackson/File Photo

(Reuters) – Spotify Technology SA (SPOT.N) said on Tuesday comedian Joe Rogan’s podcast will be available on the music streaming platform starting Sept. 1 and will become an exclusive later this year, sending shares 8% higher.

Rogan’s podcast, “The Joe Rogan Experience,” is downloaded millions of times each month and is routinely featured among top podcasts on Apple’s charts.

He has interviewed well-known politicians and businessmen on the show, including Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk and U.S. Senator Bernie Sanders.

The company did not disclose financial details of the multi-year agreement. The podcast will be free for all of the platform’s

Read More

Baidu forecasts current-quarter revenue above estimates, shares rise

A logo of Baidu is seen at the company’s headquarters in Beijing, following the novel coronavirus disease (COVID-19) outbreak, China May 18, 2020. REUTERS/Tingshu Wang

(Reuters) – Chinese search engine giant Baidu Inc forecast second-quarter revenue above expectations after beating earnings estimates, as the world’s second-largest economy reopens after lockdowns imposed to curb the spread of the coronavirus.

The company’s U.S.-listed shares were up 5% in extended trading on Monday.

“With the pandemic coming under control in China, offline activities are rebounding and Baidu stands to benefit from a restart of the Chinese economy,” Chief Executive Officer Robin Li said in a statement.

Baidu, whose search engine dominates the market in China, forecast second-quarter revenue between 25.0 billion yuan and 27.3 billion yuan, while analysts on average had expected 25.55 billion yuan, according to IBES data from Refinitiv.

Total revenue fell to 22.55 billion yuan ($3.17 billion) for the first

Read More