I had written about how bullish I was on ATVI and then bam, out of the blue comes this notice after hours sending the stock tumbling.

Well, how about that timing. ATVI down 7.5% after hours on news that they're splitting from Bungie, and Bungie is going to develop and publish from now on. Sounds like it will mean a hit to the not yet given FY19 guidance. Crap!

On January 10, 2019, Activision Publishing, Inc., a wholly-owned subsidiary of Activision Blizzard, Inc. (the “Company”), and Bungie, Inc. (“Bungie”) announced plans for Bungie to assume full publishing rights and responsibilities for the Destiny franchise. Going forward, Bungie will own and develop the franchise. As a result, the Company does not expect to recognize material revenue, operating income or operating loss from the Destiny franchise in 2019.

sec.gov/Ar...8k.htm

bungie.net/en.../47569