Take-Two Interactive (TTWO) Falls Sharply On Poor Guidance

Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) have plunged over 30.86% to $7.56 in the morning session after Take-Two warned its fiscal fourth-quarter results will miss expectations as the videogame maker put particular blame on its baseball games.

TTWO forecast that it will report a loss, excluding items, of 40 cents to 60 cents per share on revenue of $1 billion to $1.2 billion in the year ending Oct. 31, 2010. Analysts had expected it to post a profit, excluding items, of 59 cents per share on revenue of $1.24 billion.