Investors almost always react favorably to news of a restructuring/overhaul such as this, but you could also infer that there is a lot of collateral damage with the current uncertainties of the markets, a recession, and the credit/banking crisis. ATVI and ERTS, in particular, are off a further 30-40% from even their initial October lows. It was worse with overreactions in the banking sector; banks with limited exposure to the credit mess saw their stock value go into the toilet with everybody elses.
Look at NTDOY.PK. Despite steamrolling ahead unfazed, Nintendo's sheets lost over half their value in October when the market took a dive. It still hasn't recovered, despite the ridiculous Christmas.
@theprof00: ATVI being 8.20 a share at open today just kills me, though. Dumb. Dumb. Dumb.