Grand Game performance expected poor grand and Shanda game share price tumbled

U.S. Eastern Time March 1 11:41 (Beijing time March 2 0:41) News, according to foreign media reports, Shanda Games (Nasdaq:game) and its parent company Grand (Nasdaq:snda) Monday share prices fell sharply,　　The reason is that Shanda's performance forecasts for the first quarter of fiscal year 2010 are disappointing. Shanda's revenues were $195.7 million trillion, with the US depository receipts (not under US GAAP) at 22 cents per share, slightly above Wall Street analysts ' previous average of 195.1 million and 20 cents. But according to several analysts ' reports, Shanda has expected the company's first-quarter revenues to fall 10% to 15% from the previous quarter in the 2010 fiscal year, mainly because of the latest upgrade package for the flagship online game "Legend 2", which was launched at the end of 2009 for per-user average income (ARPU)　　Has had a significant impact. Alicia Yap, Citigroup analyst Elisia Jappe, downgraded the stock rating of Shanda games from "buy" to "hold" (Hold) and lowered its target price from $12.50 to $9.00; Dick Wei, JPMorgan analyst　　Maintain the "overweight" (overweight) rating of the Shanda game stock, but cut its target price from $14.50 to $11. At the same time, Shanda has just released its fiscal year 2009 quarter earnings. The report shows that the grand quarter revenue of 221.6 million U.S. dollars per share of U.S. depository receipts (not in accordance with U.S. General accounting standards) for 88 cents, are higher than Wall Street analysts had the average expected 212.6 million dollars and 84 cents. But Susquehanna Financial analyst Chunming points out that 88% and 84% of Shanda's quarterly revenue and non operating income are from Shanda games, and that they also hold a majority stake in Shanda Games, in other words, Shanda will also be frustrated when grand games are frustrated.　　Based on this, chunming will be a grand stock rating from "Bullish" (Positive) down to "neutral" (Neutral). On the same day, as of 12:10 Eastern Time (Beijing time 2nd 1:10), Shanda's share price fell 4.34 US dollars to $40.96, or 9.58%, in the conventional Nasdaq trading, while Shanda Gaming fell 1.33 U.S. dollars to 6.94 US dollars, or 16.08%. (Tangfeng)