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GameStop Shares Fall As '14 Forecast Disappoints

Video game retailer GameStop Corp (NYSE:GME) on Thursday forecast full-year earnings below market expectations as it is yet to see an uptick in sagging video game software sales, despite robust hardware sales driven by the launches of Microsoft's Xbox One and Sony's PlayStation 4 consoles.GameStop shares fell as much as 9.3 percent, making the stock one of the top percentage losers on the New York Stock Exchange, before paring losses to close down 4.0 pct at $37.33.The Grapevine, Texas-based company, which reported a weaker-than-expected fourth-quarter profit, had said in January that sales of games for older versions of Xbox and PlayStation consoles were weak."Investors came into this quarter with high expectations of how new-generation consoles would drive sales of hardware and software," Morningstar analyst Liang Feng, said."New software sales over the past few years have been turning downward. ... You're seeing some investors get jittery that maybe it's a structural trend that will...

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