Take-Two Interactive Software, Inc. (TTWO) is once again a top-performing Zacks #1 Rank company; this time with a gain of approximately 12%. The video game company was last featured as a top performer on Mar 26.

According to a report by Barron’s, the company’s shares are advancing on renewed rumors of a takeover.

The past 2 months have seen solid gains for TTWO’s earnings estimates. Expectations for this fiscal year, ending October 2009, moved to a penny profit from a loss of 42 cents in that timeframe.

Meanwhile, estimates for next fiscal year, ending October 2010, increased to $1.25 per share from 52 cents. This would also mark a sharp surge in profit year over year.

Its fiscal second quarter, which ends this month, has enjoyed upward revisions in the past 2 months as well, narrowing to a loss of 17 cents from a loss of 19 cents.

TTWO announced its fiscal first-quarter results in early March. The company reported a loss per share that was wider than the year earlier, but narrower than the consensus. Net revenue increased almost 7% to $256.8 million, reflecting solid sales from Grand Theft Auto IV, Carnival Games, NBA 2K9 and Midnight Club: Los Angeles.

There are 2 companies from the Toys/Game/Hobby Industry on today’s Zacks #1 Rank List, which includes 209 stocks. Other than TTWO, the other company is Glu Mobile, Inc. (GLUU).

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