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Microsoft’s Activision bid likely blocked by FTC lawsuit: report

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Reportedly, Microsoft’s bid to acquire video game publisher Activision Blizzard could hit a major snag as early as next month.

US Federal Trade Commission The FTC will likely file an antitrust lawsuit to block the $69 billion takeover, according to Politico, citing people familiar with the matter.

A lawsuit challenging the deal isn’t warranted, and the FTC’s four commissioners have yet to vote on a complaint or meet with the companies’ attorneys.

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Those people said FTC staff reviewing the deal are skeptical of the companies’ arguments.

MICROSOFT’S ACTIVITY BLIZZARD DEAL GETS GLOBAL SCREENING

At the center of the FTC’s concerns is whether the acquisition of Activision would give Microsoft an unfair boost in the video game market.

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Xbox from Microsoft It ranks third among industry leader Sony Interactive Entertainment and the PlayStation console.

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Sony is concerned that if Microsoft produces successful games like Call of Duty exclusively for its platforms, Sony will be at a huge disadvantage.

Activision spokesman Joe Christinat told Politico, “Any suggestion that the deal could lead to adverse effects is completely absurd. This merger will benefit gamers and the US gaming industry, especially as we face increasingly intense competition from abroad.”

The European Union’s Call to Duty: A MICROSOFT-ACTIVISION BLIZZARD DEAL TEST

sHares from Activision It was down about 4% in extended trading.

Microsoft announced the deal in January, in the game industry’s largest deal in history.

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Microsoft spokesperson David Cuddy told Politico that the company “is ready to address the concerns of regulators, including the FTC, and Sony to ensure the deal closes with confidence. We will continue to track Sony and Tencent in the market after the deal closes, and Activision and Xbox together will benefit gamers and developers and make the industry better.” more competitive.”

Bobby Kotick, CEO, Activision Blizzard Inc. and Satya Nadella, CEO, Microsoft

ACTIVISION BLIZZARD SHAREHOLDERS AGREE TO SALE FOR US$68.7 BILLION TO MICROSOFT

FOX Business has contacted Microsoft and Activision for additional comments.

The European Union opened a full investigation earlier this month. The EU competition enforcement said it would decide by March 23, 2023, whether to remove or block the deal.

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Market rally wipes out Powell’s gains as Apple and Exxon slippery; What are you doing now

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Dow futures tilted higher overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally saw another weak session, with apple (AAPL) And the Exxon Mobil (xom) broke below key levels during Amazon.com (AMZN) And the Tesla (TSLA) is moving towards the bottoms of the bear market.




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The S&P 500 and other major indices were testing or lowering key levels, paring last Wednesday’s big gains after Fed Chairman Jerome Powell’s speech.

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This stock market rally has several big gains in one day followed by pullbacks. This made it difficult for stocks flashing buy signals to make headway. It’s not the time to add exposure, but investors should be looking to build up the stock.

United Rentals (URI), United Health Group (United nations) And the United Airlines (UAL) are all trading near Buy points.

UAL stock is on IBD Leaderboard, while the stock URI is in the leaderboard watchlist. United Airlines, Charles Schwab and United Nations stocks are in defect 50. United Rentals was the World Bank’s stock on Tuesday.

Dow jones futures today

Dow futures rose 0.1% above fair value. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.2%.

The 10-year Treasury yield advanced 3 basis points, to 3.54%.

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Remember to work in overnight Dow Jones futures contracts and elsewhere that does not necessarily translate into actual trading in the next regular session Stock market session.


Join IBD experts as they analyze actionable shares in the bullish stock market on IBD Live


Stock market rise

The stock market rally quickly eased after Tuesday’s open and continued to trend lower during the day before trimming losses slightly near the close.

The Dow Jones Industrial Average fell 1% on Tuesday Stock market trading. The S&P 500 lost 1.4%. The Nasdaq Composite fell 2%. Small cap Russell 2000 fell 1.5%

Apple stock, a member of the Dow Jones, S&P 500 and Nasdaq composite, fell 2.5% to 142.91, retreating from its 50-day line. XOM stock fell 2.8%, and it is also below the 50-day line and also under a buy point. Exxon shares are struggling with falling oil, gasoline and natural gas prices.

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Amazon stock fell 3% to 88.25, closing as low as November 9 at 85.87. Tesla shares fell 1.4 percent to 179.82, off their lowest levels for the day, but after falling 6.4 percent on Monday. TSLA is moving towards 52-week lows but still has some way to go before it drops to the 166.19 mark.

US crude oil prices fell 3.5 percent to $74.25 a barrel.

The 10-year Treasury yield fell 9 basis points to 3.51%, back near its lowest level since Sept. 20.

The stock market’s inverse relationship with Treasury yields may collapse. The increasingly lower 10-year Treasury yield may reflect rising recessionary risks against declining inflation pressures. The yield curve, which continues to invert further, indicates recession fears.

Exchange Traded Funds

Among the major technology ETFs is the iShares Expanded Technology and Software ETF (IGV) lost 1.7%. VanEck Vectors Semiconductor Corporation (SMH) decreased by 2.2%.

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SPDR S&P Metals & Mining ETFs (XME(Increased 0.25% and Global Infrastructure Development Fund (ETF) in the USA)cradle) decreased by 0.3%. US Global Gates Foundation ETF (Planes) held on high. SPDR S&P Homebuilders ETF (XHB) fell 1.4%. Energy Defined Fund SPDR ETF (xle(down 2.6% and the Financial Select SPDR ETF)XLF) 0.9%. SPDR Health Care Sector Selection Fund (XLV) decreased by 0.8%.

Reflecting more speculative stories, the ARK Innovation ETF (ARK)ark(down 4% and ARK Genomics ETF)ARKG) 3%. Tesla stock is a major holding across Ark Invest’s ETFs.


Top five Chinese stocks to watch now


Stocks near buy points

United Rentals rose 0.5% to 347.29, just above the 21-day line. URI stock has a 368.04 Buy handle of consolidation dating back to November 2021. A break down of the handle could offer an early entry. Several heavy equipment plays, incl monastery (DE), Larva (cat) And the Titan machines (TITN), also looks strong.

UN stock rose 0.8% to 539.32. The Dow Jones giant has 558.20 buying points from A Flat base Next to a cup with a handle.

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UAL stock rose 2% to 45.92 from 45.67 mug with handle Point purchase, according to MarketSmith Analysis. Some other airline and travel stocks are looking strong.


Why simplify this IBD tool burntthe classroom for top stock


Market rally analysis

The stock market rally continues the frustrating trend of jumping four steps forward, and then doing so again over the next few days.

Major indices have fallen strongly for two straight sessions, erasing or undermining the big gains in Federal Reserve Chairman Jerome Powell’s speech last Wednesday.

The S&P 500, which again fell below the 200-day line on Monday, extended its losses on Tuesday to trim the 21-day line. The Russell 2000 Index, which fell below the 200-day and 21-day lines, fell to its lowest close since November 9, with the 50-day line back in play.

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The S&P MidCap 400 closed below the 21-day line for the first time since October 20 and fell to test the 200-day mark.

The Dow Jones, which led the market rally, fell below the 21-day line for the first time since October 14, but it is well above the 200-day mark.

The lagging Nasdaq has lowered the 21-day line and is again approaching the 50-day line, just above the 11,000 level.

All of these indexes closed at their worst levels since Oct. 9, ahead of the Oct. 10 gap in the October CPI inflation report.

Last Wednesday’s big gains in the market were baffling at the time, because Fed Chair Powell said nothing different or pessimistic. Major indexes held on Friday, with Treasury yields finally closing lower, despite a hot jobs report that was even more baffling.

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But the artistic picture is familiar.

Since the stock market rally began on October 13, major indices have made several big gains in one day – such as October 28 and November 30. But then it quickly backtracked, wiping out most, all, or most of that big gain.

So, with major indices reaching higher peaks and blue chip buy signals, the market’s impulsiveness begins to fade again.


It’s time to market with IBD’s ETF Market Strategy


What are you doing now

So far, the market rally has eventually rebounded each time, recording higher highs along the way. But that doesn’t mean it will happen this time. More importantly, this does not mean that your stocks will rebound.

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Until the S&P 500 moves decisively above the 200-day line, investors should be wary of adding exposure. Both the Nasdaq and Russell 2000 falling below their 50-day lines, and the S&P 500 testing its October highs, would be signals to reduce exposure further.

Also note that the November CPI inflation report will be released on December 13th, with the Fed’s year-end interest rate hike and Powell’s press conference the next day. These large events can provide a catalyst for a market breakout up or down.

So investors must be ready to act. This means having watchlists ready, but it also means staying agile and flexible.

Read The Big Picture Every day to keep up with the market trend, stocks and leading sectors.

Please follow Ed Carson on Twitter at @tweet For stock market updates and more.

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BlackRock has frozen hiring, says CFO

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© Reuters. FILE PHOTO: A BlackRock logo is pictured outside its headquarters in the Manhattan borough of New York City, New York, US, May 25, 2021. REUTERS/Carlo Allegri/File Photo

NEW YORK (Reuters) – BlackRock Chief Financial Officer Gary Shedlin said on the New York Stock Exchange on Tuesday that the company is tightening its belt on hiring and overhead.

Other than critical hires, Schedlin said, the company has frozen hiring.

“We are trying to be more prudent,” he said during a financial conference hosted by Goldman Sachs (NYSE), adding that these measures will put BlackRock in a better position next year.

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Why Tesla Stock Cap Is Now $200. where the floor might be.

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Tesla

He didn’t have much Important fundamental news Recently, leaving the stock at the mercy of its scheme. And the scheme does not look very good.

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until something fundamental changes,

Tesla

(Stock ticker: TSLA) The share price is likely to reach around $200. level can go down $100 dollars, although there is some support for stocks around $166. At Monday’s closing price of $182.45, the short-term balance between potential risk and reward looks unrewarding.

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