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THQ Sees FY 10 Profit; Betting on the Old Ultraviolence

THQ shares are posting a fat gain today after the videogame company announced that it has completed a previously announced cost-reduction plan designed to chop its annual spending by $220 million. THQ CEO Brian Farrell said in a statement that the company’s goal is to return to profitability and generate positive cash flow in the March 2010 fiscal year, and to position the company for long-term sustainable growth.

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Shall We Play A Game? Upgrades For ATVI, THQI, ERTS

Kaufman Brothers analyst Todd Mitchell this morning raised his ratings on Activision Blizzard (ATVI), Electronic Arts (ERTS) and THQ (THQI), While Mitchell also is cutting estimates and price targets for the stocks, he thinks they are “oversold in a tough market.”