GameStop plunges 18%: lower-than-anticipated software sales + PS4 XOne reduced gross margin

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GameStop (GME) Corp. plunged 18 percent, the most in the S&P 500, to $37.09. The largest specialty retailer of video games cut its full-year profit forecast amid lower-than-anticipated software sales and reduced gross margin from Sony Corp.’s PlayStation 4 and Microsoft Corp.’s Xbox One consoles during the holiday shopping period.

 

http://www.bloomberg.com/news/2014-01-14/u-s-stock-index-futures-are-little-changed-google-gains.html

 

Edit: full article http://www.bloomberg.com/news/2014-01-14/gamestop-falls-on-narrower-margin-from-holiday-console-sales.html