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Acquisitions Mergers

U

Shares of Unity Software Inc (NYSE:U) are trading higher by 8.33% following a federal judge's denial of the FTC's request for a preliminary injunction of Microsoft's acquisition of Activision Blizzard. The judge stated that the FTC failed to show that the acquisition would lessen competition in the video game library subscription and cloud gaming markets.

Portfolio Pulse from Henry Khederian

July 11, 2023 | 6:08 pm

EA

Shares of Electronic Arts Inc (NASDAQ:EA) hit a new 52-week high, trading higher by 4.63% to $136.58. The rise is in sympathy with Activision Blizzard after a federal judge denied the FTC's request for a preliminary injunction of Microsoft's acquisition of the company. The FTC had claimed that the combined firm would likely pull Call of Duty from Sony PlayStation and lessen competition in the video game library subscription and cloud gaming markets.

Portfolio Pulse from Henry Khederian

July 11, 2023 | 6:03 pm

AVGO

VMW

VMware shares are trading higher following a Financial Times report suggesting the EU is set to clear Broadcom's acquisition of the company.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 5:53 pm

ATVI

EA

MSFT

RBLX

TTWO

U

Shares of video game-related companies are trading higher following a federal judge's denial of the FTC's request for a preliminary injunction of Microsoft's acquisition of Activision Blizzard.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 5:26 pm

ATVI

META

MSFT

A US Federal Judge has denied the Federal Trade Commission's (FTC) request for a preliminary injunction of Microsoft's acquisition of Activision Blizzard. The FTC can still appeal the decision or proceed with its challenge to block the deal. The deal also faces opposition from the Competition and Markets Authority in the UK. Activision may seek to renegotiate the financial terms of the deal as its condition has improved since the deal was initially signed.

Portfolio Pulse from Franca Quarneti

July 11, 2023 | 5:15 pm

ATVI

EWU

MSFT

Microsoft has proposed a small divestiture to address the concerns of the UK's Competition and Markets Authority (CMA) regarding its acquisition of Activision Blizzard.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 5:06 pm

IBM

Credit Suisse analyst Shannon Cross reiterated her Outperform rating and $162 price target for International Business Machines Corp (IBM). She expects IBM to maintain its 2023 revenue guidance of up 3% to 5%, with no significant change in IT spending since April. Cross also highlighted IBM's recent acquisitions and the launch of its AI Center of Excellence. She believes the company's Consulting unit will lead most AI engagements and that data collected by Apptio can be applied to IBM's foundational models.

Portfolio Pulse from Anusuya Lahiri

July 11, 2023 | 5:02 pm

REI

Ring Energy has announced an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV for $75 million in cash. This has led to an increase in Ring Energy's share price.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 5:01 pm

AVTA

Avantax is reportedly exploring a potential sale, which has led to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 4:41 pm

AVTA

Wealth-tech firm Avantax is reportedly exploring a potential sale, according to Bloomberg. No specific details about potential buyers or the estimated value of the deal have been disclosed.

Portfolio Pulse from Happy Mohamed

July 11, 2023 | 4:39 pm