Shares of GameStop spiked after the company reaffirmed its earnings forecast after reporting strong holiday sales, making it TheStreet’s Move of the Day. The largest video-game retailer reaffirmed its fourth-quarter earnings forecast. GameStop said sales of new titles led by Call of Duty: Advanced Warfare and Grand Theft Auto V during the holiday period helped offset its weaker demand for gaming consoles. In addition, analysts at Pacific Crest raised its rating two notches to OUTPERFORM from UNDERPERFORM with a $48 price target. The firm believes gaming software will return to growth this year. TheStreet’s Kurumi Fukushima reports from New York.
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