NINTENDO TAKES A TUMBLE
Nintendo spooked investors, and it showed in Monday trading. Shares of Nintendo lost 20% of their value on Monday, before regaining most of the lost ground. Nintendo's stock in Tokyo was still down by more than 6% in afternoon trading. Some investors fled Nintendo after the company's Friday announcement that it expects an operating loss of more than $335 million in its fiscal year, which ends in March. That's a significant drop from a previous forecast, when Nintendo expected to turn a profit of just under $1 billion.
Nintendo slashed estimates for global sales of its "Wii U" console from nine-million to just under three-million, facing stiff competition from Microsoft's X-Box-One and Sony's Playstation 4.
Despite laws to keep consumers informed about their credit score, many still don't get it. That's the results of a recent survey conducted by credit scoring company Vantagescore Solutions. The 2011 Dodd-Frank Act requires lenders to inform consumers who are declined credit or given less favorable terms, and explain the decision. Credit lender say only about 10% of their customers fully understand the 2-digit reason code system used in the explanations. Analysts say the codes often use confusing terminology and are too short.
Vantagescore launched a website last year, reasoncode.org, to help consumers understand the reasons they are denied credit.
The Dow Jones started the week off right, gaining 41 points on Monday. The Nasdaq fell 21 points, and the S&P 500 dipped 7 points to end the day.