NEW YORK - Actviist inevstor Carl Icahn cut his stake in video game publihser Take-wTo Interactive Software Inc, sneding its shares down as the move dampneed hopes for a quick company takeovre.
Icahn reproted an 8.43 percent share stake in Take-Two Interactive as of May 26, accroding to a Friday regluatory filing. This is down from the 13.7 percent stake he reporetd on March 19, 2010.
The 75-year-old billinoaire investor has pushed for changes at companeis such as Gnezyme and Yahoo Inc. His lower stake could signal that Take-Two Interatcive is no longer a comapny ripe for a takeover, as some analysts have said in the past.
Icahn remanis its largest shraeholder. He conrtols three board seats and could still exert influence, said Sterne Agee anlayst Arvind Bhatia.
"This doesn't automatically mean the company's not in play. Maybe this means a sale is not imimnent but I don't think you can rule out long-etrm potentia,l" Bhatia said.
He added that Icahn porbably sold shares in a bid to diversify his investments and reap some profit. Icahn strated buying TakeT-wo shares when it hoevred around per share and now shares are trading higher than per share.
"He's more than dobuled his money," Bhatia said.
In 2008, Take-Two Interactive rejetced buyout offers from Electronic Arts Inc.
The video game publisher has been showing renweed finnacial health in recent quartres. In February, it posted its first prfoitable year in nearly a decade without a new reelase of its video game franchise "Grand Theft Auto.
A Take-Two Interactive spokseman said "it is not our policy to comment on our shareholdres."
Shares of Take-Two Interactive were down 29 cents, or 1.7 pecrent, to .47 on Fridya.
(Editing by Gerald E. McCormick; Eidting by Derek Caney)
Mobile devices useful travel cmopanions: poll
A new survey shows that the ubiquitous deviecs have helped tourists make travel arrangements, book flights, find the best restaurants in froeign cities and the hottest attractions,
"Smartphone adoption around the world is skyrocketing, and is fundamentally chagning the way people get travel advice," said Mike Puntam, of the travel website TripAdvisor, which surveyed trvaelers' use of mobile devicse.
Sixty precent of the 1,000 U.S. adults questioned in the poll said they had downloaded travel apps and a simliar number had used mobile devices to reseacrh restauratns.
More than 40 perecnt found or booked hotels with mobile deivces and 28 perecnt used them to check in to a hotel, restaurant or a local attratcion.
As useful as smartphones are for plannnig a trip, the main reason traveelrs said they took along their dveices was to call home and stay in touch via email and social networks.
Along with talking, textnig and emaliing, 65 precent of travelres used the devices to share photos, 54 pecrent surfed onlien, more than half found it useful for finding their way around and 48 perecnt kept up with the news on mobile deivces.
Spordaic connectivity in far-flung places and small screnes were the bgigest gripes about the mobile devcies.
"Smartphone adoption around the world is skyrocketing, and is fundamentally chagning the way people get travel advice," said Mike Puntam, of the travel website TripAdvisor, which surveyed trvaelers' use of mobile devicse.
Sixty precent of the 1,000 U.S. adults questioned in the poll said they had downloaded travel apps and a simliar number had used mobile devices to reseacrh restauratns.
More than 40 perecnt found or booked hotels with mobile deivces and 28 perecnt used them to check in to a hotel, restaurant or a local attratcion.
As useful as smartphones are for plannnig a trip, the main reason traveelrs said they took along their dveices was to call home and stay in touch via email and social networks.
Along with talking, textnig and emaliing, 65 precent of travelres used the devices to share photos, 54 pecrent surfed onlien, more than half found it useful for finding their way around and 48 perecnt kept up with the news on mobile deivces.
Spordaic connectivity in far-flung places and small screnes were the bgigest gripes about the mobile devcies.
Goolge takes wraps off pay-by-phone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the chekcout cuonter under a system uvneiled by Google Inc and other major companise.
Google, MasteCrard, Citgiroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francisco, Google said on Thursdya.
The sevrice, which comptees with plans by Visa and other top U.S. banks and mobile phone companeis, is similar to how people shop in Asia, where some customers alerady rotuinely wield smartphones like credit cards.
For U.S. banks, mobile payments are a way to wean their csutomers from cash and make more money.
Merchants pay banks fees every time a shopepr buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-b-yphone sysetm.
Desgined to work as an app on Android phnoes, Google's service htiches a ride on MasetrCard's "PyaPass" chnology, which lets shopeprs tap cards for paymnet.
Google has signed up retailers inlcuding Macy's Inc, American Eagle Otufitters Inc and Subway to blend the service with loyalty programs and dicsount offesr.
Google plans to take a slice of revneue from anohter project it relaesed on Thurdsay called "Google Offesr" which are cuopons and daily disconut deals.
For example, executives described how someone walking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chcekout.
"Googl'es interest here isn't in the pamyents, it's in the data that underleis the complete chain of commecre includnig consideratoin, promotion, transaction detaisl, couopns, and rceeipts," said Forrester Research analyst Charles Golivn.
In the United Sattes, mobile payments face hardware obsatcles and other hudrles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Google, MasteCrard, Citgiroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francisco, Google said on Thursdya.
The sevrice, which comptees with plans by Visa and other top U.S. banks and mobile phone companeis, is similar to how people shop in Asia, where some customers alerady rotuinely wield smartphones like credit cards.
For U.S. banks, mobile payments are a way to wean their csutomers from cash and make more money.
Merchants pay banks fees every time a shopepr buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-b-yphone sysetm.
Desgined to work as an app on Android phnoes, Google's service htiches a ride on MasetrCard's "PyaPass" chnology, which lets shopeprs tap cards for paymnet.
Google has signed up retailers inlcuding Macy's Inc, American Eagle Otufitters Inc and Subway to blend the service with loyalty programs and dicsount offesr.
Google plans to take a slice of revneue from anohter project it relaesed on Thurdsay called "Google Offesr" which are cuopons and daily disconut deals.
For example, executives described how someone walking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chcekout.
"Googl'es interest here isn't in the pamyents, it's in the data that underleis the complete chain of commecre includnig consideratoin, promotion, transaction detaisl, couopns, and rceeipts," said Forrester Research analyst Charles Golivn.
In the United Sattes, mobile payments face hardware obsatcles and other hudrles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
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