What's Going On With Microsoft Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Microsoft Corp's stock is trading higher after the company completed the $69 billion Activision Blizzard acquisition, having won the U.K. regulator approval. The deal was closed on the condition that they sell the streaming rights to Activision's games to Ubisoft Entertainment. Microsoft had also cut similar deals with Nvidia Corp and Sony Group Corporation. However, the U.S. Federal Trade Commission (FTC) remains opposed to the deal, viewing it as a threat to competition. Analysts have reiterated Microsoft with an Overweight and Buy rating, with price targets of $400 and $370 respectively.
October 16, 2023 | 3:50 pm
News sentiment analysis
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NEUTRAL IMPACT
Microsoft had cut a similar deal with Nvidia Corp to win support for the Activision Blizzard contract.
While Nvidia is mentioned in relation to Microsoft's deal, the news does not directly impact Nvidia's stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Microsoft had cut a similar deal with Sony Group Corporation to win support for the Activision Blizzard contract.
While Sony is mentioned in relation to Microsoft's deal, the news does not directly impact Sony's stock.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Microsoft's stock is trading higher after the completion of the Activision Blizzard acquisition. Analysts have reiterated an Overweight and Buy rating, with price targets of $400 and $370.
The completion of the Activision Blizzard acquisition and positive analyst ratings are likely to have a positive impact on Microsoft's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100