Investor snapshot: Jamdat spikes after funding flood

Jamdat Mobile (JMDT) was the biggest mover among game stocks Monday. Shares in the company rose $1.90--11.5 percent--to close at $18.40. According to a news item from Netimperative, Jamdat was one of a handful of mobile companies to receive new funding; others included Mforma, In-Fusio, and Digital Bridges.

According to the article, the mobile-gaming industry received 56 percent of its funding in 2004, indicating a rush of cash to the sector. Additionally, a story in Marketwatch today highlighted mobile games' trend toward 3D, drawing investors' attention to Jamdat and others who are producing 3D games for mobile phones.

Two other game stocks rose in Monday's trading. Shares in Vivendi Universal (V) climbed 18 cents to $31.39, while Midway (MWY) shares advanced 17 cents to $10.36.

Decliners were in the majority, however. Electronic Arts (ERTS) shares fell 83 cents to $50.23. THQ Inc. shares traded 31 cents lower at $28.53, while shares in GameStop Corp. (GME) lost 27 cents to close at $21.51. Electronics Boutique (ELBO) shares closed at $42.04, 26 cents lower. Shares in Atari (ATAR) closed 11 cents lower at $2.84. Activision (ATVI), Eidos (EIDSY), and Take-Two Interactive (TTWO) shares were down a penny each, and shares in Konami (KNM) were unchanged.

In overseas trading, shares in Nintendo rose 40 yen (37 cents) on the Japanese exchange, closing at 12,280 yen ($113.90). In Paris, Ubisoft shares traded .33 euros (43 cents) higher at 31.33 euros ($40.64) on Monday.

Wall Street edged lower; the Dow Jones Industrial Average fell 12.78 points, closing at 10,448.56. The Nasdaq Composite slid 7.23 points to 1,992.12, and the S&P 500 was unchanged at 1,181.21.

Verizon is still gunning for a takeover of MCI, according to Marketwatch; it has won a 13 percent stake in the company from investor Carlos Slim Helu. Last week, MCI rejected a bid from Qwest Communications, which has been Verizon's major competitor in the buyout effort. Shares in MCI were higher in Monday's trading, while Verizon and Qwest shares were down.

Shares in Circuit City rose today, following news that the electronics retailer's fourth-quarter earnings were lower than the same period a year ago but that its revenues had increased 5.3 percent.