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Turtle Beach is positioned for upside following its PDP acquisition and exposure to Nintendo Switch 2 peripherals. TBCH achieved more than $13 million in annual synergy savings, exceeding initial management estimates and accelerating EPS improvement. Gross margin expanded 120 bps YoY to 37.4% in Q3 2025, with FY25 guidance reaffirmed at $350M revenue and $50M adjusted EBITDA.

Some of Nintendo's most established shareholders are moving to unwind sizable positions, in what could mark one of the more notable cross-shareholding reduction

Nintendo is expanding the footprint of its valuable intellectual property (IP) across movies to merchandise and theme parks. The gaming giant is betting on nostalgia and new gamers to drive sales of its flagship Switch 2 console and key games.

Nintendo plans an unwinding of strategic shareholdings that would see companies including MUFG Bank and the Bank of Kyoto selling shares of the "Super Mario" maker, according to three sources familiar with the situation.

Nintendo is rated a buy, driven by the Switch 2 launch and robust free cash flow yield above historical levels. Switch 2 sales are pretty strong, with expectations for a long sales tail and significant deferred demand as the game library matures. Major upcoming catalysts include new Mario and Zelda movies, each with the potential to add over 20% to run-rate net profit in their respective years.