GameStop gains after revising $1.4 bln debt exchange
GME•Second-quarter profit outlook lifted
GameStop said it expects second-quarter net income between $290 million and $310 million, up from $168.6 million a year ago.
The outlook includes roughly $238 million of net gains related to eBay EBAY.O derivative and equity investments.
As of the last close, the stock was down 11% year to date.
Shares rise after revised debt exchange
Shares of video game retailer GameStop, GME.N, rose 3.6% to $18.5 premarket after the company said it amended its previously announced $1.4 billion debt exchange.
The revised deal would pay about 27% in cash, or roughly $358.4 million, with the remainder paid in stock.
