Famous for its EA Sports lineup that includes the Madden line of NFL licensed football video games, Electronic Arts has seen its shares rally more than 3% so far today. The company posted a second-quarter loss of $195 million, or 62 cents per share, while revenue slipped to $640 million from $784 million. Surprisingly, the stock has jumped despite analyst expectations for a profit of 20 cents per share on revenue of $896.2 million.

Some of the onus for today's upward mobility lies with the investing public, who's expectations were extremely low heading into the report. ERTS's Schaeffer's put/call open interest ratio (SOIR) of 0.71 ranks above 75% of all those taken during the past year, indicating an extreme degree of pessimism prior to the report, while the more than 4% of the stock's float hints that short sellers were similarly bearish. Even Wall Street wasn't looking for much, as 9 of the 19 analysts following ERTS rate the shares a hold. With the holiday buying season fast approaching, the stock could parlay this good fortune into a stronger rally as video game sales pickup ahead of this year's holiday consol wars.