Streetbeat News

ATVI

Activision Blizzard Inc

https://www.activisionblizzard.com/

CEO

Robert Kotick

Employees

2,373

Industry

Software Publishers

activision blizzard is the world's most successful standalone interactive entertainment company. our portfolio includes some of the biggest franchises in all of entertainment, developed by the incredibly talented teams at activision publishing, blizzard entertainment, king digital entertainment, activision blizzard studios, major league gaming, and our independent studios, including toys for bob, infinity ward, sledgehammer games and treyarch. our central corporate operations provide shared services such as finance, it, sales and supply chain, human resources and legal.

Open

94.48

Mkt cap

74B

Volume

7.1M

High

94.54

P/E Ratio

34.59

52-wk high

94.57

Low

94.31

Div yield

N/A

52-wk low

70.94

A federal judge ruled in favor of Microsoft's acquisition of Activision Blizzard, causing Activision's shares to rally by 10%. Analysts from Wedbush Securities, Benchmark Company, and Stifel Financial Corporation weighed in on the ruling. Wedbush maintained an Outperform rating on Microsoft, predicting the deal will close by next Tuesday. Benchmark downgraded Activision from Buy to Hold as the share price exceeded their target. Stifel also downgraded Activision from Buy to Hold, but raised the price target. The analysts believe this ruling could open the door for more M&A in the tech industry.

Portfolio Pulse from Franca Quarneti

July 12, 2023 | 8:13 pm

U.S. Senator Bernie Sanders, known for his criticism of the ultra-wealthy and large corporations, owns stakes in several mutual funds that hold positions in companies he has criticized, including Tesla, Amazon, and Microsoft. Sanders has been advocating for a ban on lawmakers buying and selling stocks and options. He has also proposed legislation that would impose additional taxes on stock trading.

Portfolio Pulse from Chris Katje

July 12, 2023 | 5:49 pm

Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

Activision Blizzard's stock is trading lower amid reports of a possible new investigation on the Microsoft takeover deal to reverse a U.K. veto. The Competition and Markets Authority (CMA) has applied to put the appeal trial against its decision to block the deal on hold. Microsoft and Activision are considering modifying the transaction. Microsoft had already forged deals with Nvidia, Nintendo, Boosteroid, and Nware to win regulatory support for the deal.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 1:04 pm

Activision Blizzard, Inc. (NASDAQ:ATVI) stock traded sharply higher after Microsoft Corp (NASDAQ:MSFT) won a court permit to proceed with its $69 billion acquisition of Activision. The decision means Microsoft could close its merger with Activision ahead of a July 18 deadline, except in the U.K., which vetoed the deal. Activision shares jumped 10% to close at $90.99 on Tuesday.

Portfolio Pulse from Lisa Levin

July 12, 2023 | 12:52 pm

Deutsche Bank analyst Bryan Kraft has maintained a 'Buy' rating on Activision Blizzard (NASDAQ:ATVI) and raised the price target from $89 to $95.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 11:58 am

Vmware, Inc's stock is trading lower after Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. The Commission recognizes the importance of this combination in enabling enterprises to accelerate growth in the multi-cloud ecosystem. Broadcom has also won legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan for the $61 billion deal. On Tuesday, Microsoft Corp won a court permit to move forward with its $69 billion deal to buy Activision Blizzard, Inc.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 11:55 am

MoffettNathanson analyst Clay Griffin has downgraded Activision Blizzard (NASDAQ:ATVI) from Outperform to Market Perform, while raising the price target from $91 to $95.

Portfolio Pulse from richadhand@benzinga.com

July 12, 2023 | 11:54 am

The UK Competition and Markets Authority (CMA) has commented on the Microsoft-Activision deal, stating that while the merging parties cannot propose new remedies after a final report, they can choose to restructure the deal, potentially leading to a new merger investigation.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:53 am

Positive expectations for June inflation data have boosted market sentiment, reflected in higher stock futures for Wednesday’s opening. Major stock indexes ended higher on Tuesday, driven by expectations of a slowdown in inflationary pressures and the potential for a more dovish Fed approach. In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.17% to $443.22 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.22% to $368.97. Netflix, Inc. (NASDAQ:NFLX) rose modestly in premarket trading after UBS raised the price target for the stock from $390 to $525. Activision Blizzard, Inc. (NASDAQ:ATVI) was little changed after Raymond James downgraded the stock from Outperform to Market Perform. AngioDynamics, Inc. (NASDAQ:ANGO) is due to release its quarterly results before the market opens.

Portfolio Pulse from Shanthi Rexaline

July 12, 2023 | 11:17 am

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