THQ unfortunately didn't fare so well. The company lost $0.54 per share on an adjusted basis. Wall Street thought THQ was better than that. Analysts counted on a loss of only $0.32 per share. Boy, were they off. Looks like THQ has a long way to go in terms of working efficiently.

Ironically enough, EA had sold off on its report and THQ had rallied! Imagine that. The one that beats is punished and the one that comes up short is rewarded. It's an interesting time in the markets.

Both publishers have been struggling on a fundamental basis. They're currently trying to correct their pipelines and align them in such a way that better reflects what the video-gaming consumer wants. Of course, as we talked about before, what these companies really want is lower hardware prices from Sony (NYSE: SNE), Microsoft (NASDAQ: MSFT), and Nintendo. Price cuts on the PlayStation 3, Xbox 360, and the Wii would open up new opportunities for EA and THQ.

I am simply amazed, however, at THQ. That stock was up almost 13% on big volume on Friday. The shares have rocketed from their low of $2.23 all the way up to $5.33 at Friday's close. If you're a quick trader who's willing to potentially lose money for a chance at playing some momentum, then THQ could be the way to go (remember to consider waiting for a pullback before entering a position). Of course, keep in mind that THQ's strength might be the result of a lot of short covering. And keep in mind that this trade is not for the faint of heart.

I wouldn't blame any investor for investigating EA and THQ, but I do think that both publishers have significant issues; they certainly aren't my preferred way of playing the business of video games. The franchises that these two possess in their portfolios can't seem to overcome the power of Activision Blizzard's. Thankfully, I own Activision Blizzard. I do wish, however, that I had been trading THQ on Friday.