Video game stocks inched modestly higher Wednesday after Take-Two Interactive Software posted a strong first quarter and investors anticipated Thursday’s release of February sales data from market researcher NPD Group. Expected blockbusters like Nintendo’s Super Smash Bros. Brawl, in stores since last weekend, Take-Two’s Grand Theft Auto IV, due out late April, and Electronic Arts’ Spore, due out in September, are expected to fuel game sales in the coming months.

Take-Two said Tuesday pre-orders for Grand Theft Auto IV have been better than expected, prompting a higher forecast for the current fiscal year, but the publisher’s shares remained range-bound Wednesday, as investors seem to be holding out to see how the company’s rejected buyout bid from EA develops. EA offered two billion dollars, or 26 dollars per share, for Take-Two last month. Take-Two said the bid was too low, and analysts think that EA will offer one dollar more per share in the next few weeks, sealing the deal. Shares of New York-based Take-Two rose 35 cents to 25 dollars in afternoon trading.

Source: Forbes