THQ Inc. (THQI) Signs a Forbearance Contract with Wells Fargo Capital Finance

Technology News|November 25, 2012 12:59 PM| By Larry Davidson

THQ Inc. (NASDAQ:THQI) reported that its CFO (Chief Financial Officer) has left the company and on financing alternatives, it is in talks with the sponsors. This turn has come due to cash crisis. Company also signed a forbearance contract with Wells Fargo Capital Finance, LLC. This forbearance agreement is extends to January 15, 2013 right now.

Company’s chairperson and CEO Brian Farrell stated that they are very pleased to settle this agreement; it will make company able to endure focusing on bringing games in expansion to market.

THQ Inc. (NASDAQ:THQI)’s stock traded at beginning with a price of $1.26 and throughout the trading session climbed at a high of $1.28 and later when day-trade ended the stock finally declined -12.00% to $1.10.THQI’s current year’s earnings per share experienced a decline with -76.99% while its current quarter performance remained -77.73%.

THQI had a trade volume of 332,029 shares which was lower as compared to average trading capacity of 351,530 shares.Shares price of THQI moved down from its 20 days moving average with -41.91% and remote negatively from 50 days moving average with -63.45%.

The stock is ahead of its 52-week low with 3.77% and lagging behind from its 52 weeks high price with -94.58%. THQI’s last month’s stock price volatility remained 12.84%. In its share capital THQI has 6.86 million outstanding shares among them 6.78 million shares have been floated in market exchange. THQI stock insider ownership included 0.02%.