DIRS.INFO The most relevant business & tech news

☆ Watch CNBC’s full interview with Jefferies' Brent Thill and former FTC Commissioner Mozelle Thompson
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Jefferies' Brent Thill and former FTC Commissioner Mozelle ThompsonBrent Thill, Jefferies analyst and Mozelle Thompson, former FTC commissioner, join 'Squawk on the Street' to discus Microsoft-Activision deal as the latter company sees shares soar.

Persons: Jefferies, Brent Thill, Mozelle Thompson Brent Thill, Mozelle Thompson Organizations: Jefferies, Microsoft, Activision

Why the CMA blocked the Microsoft-Activision dealThe U.K. CMA efficiently blocked the acquisition in April, saying the deal raises competition concerns in the nascent cloud gaming market. Like other regulators, the CMA is concerned that Microsoft could take Activision games and make them exclusive to its own platforms. Cloud gaming is a technology that enables gamers to access games via remote servers — effectively streaming a game like you would a movie on Netflix. The CMA, Microsoft and Activision now look set to hash out a possible resolution to the regulator's concerns to get a deal over the line. watch nowMicrosoft has already offered concessions to the U.K. regulator which were rejected.

Persons: Redmond, Michael Ciaglo, Alex Haffner, Fladgate, It's, it's, Haffner, Microsoft Organizations: Activision, Markets, Federal, Microsoft, Activision Blizzard, CMA, Netflix, Warfare, Bloomberg, Getty, CNBC, FTC, Nintendo, European Union Locations: Denver , Colorado

☆ FTC to appeal Microsoft's deal to buy Activision Blizzard in merger agreement
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

CNN —The Federal Trade Commission said Wednesday it would appeal a decision from earlier this week by a district court judge allowing Microsoft to close its $69 billion Activision Blizzard merger. The FTC had asked for a preliminary injunction while a separate legal challenge to the merger unfolds in the agency’s in-house administrative court. Tuesday’s decision paved the way for Microsoft to potentially finalize the deal with Activision in a matter of days, ahead of a July 18 contractual deadline. Alternatively, the companies could mutually seek to extend that timeframe. Consummating the deal would turn Microsoft into the third largest video game publisher in the world, after Tencent and Sony.

Persons: Jacqueline Scott Corley, Corley, “ Organizations: CNN, Federal Trade Commission, Microsoft, Activision Blizzard, FTC, Activision, Tencent, Sony, Sony PlayStation

☆ Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes
▼ + stars: | 2023-07-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.

Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao

☆ EU claims win in Illumina battle, may yet lose war
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

The $30 billion genetic test maker faces a record European Union fine of 432 million euros ($476 million) for closing the $8 billion deal in 2021, ahead of regulatory approval. Absent the fact that it would have breached its own 10% of revenues cap for fines, the EU would have charged Illumina 570 million euros, according to an EU official. Even so, while the transatlantic merger saga has already seen the departure of Illumina’s chief executive and chairman, Brussels may yet win the battle and lose the war. Separately, Illumina has launched proceedings over whether the EU has the jurisdiction to opine – if it wins, then its new fine could get overturned. With U.S. courts ruling in favour of Microsoft (MSFT.O) over its Activision Blizzard (ATVI.O) deal, the Illumina saga may yet have further twists.

Persons: shouldn’t, Illumina, Rebecca Christie, George Hay, Oliver Taslic Organizations: Reuters, European, EU, U.S, Microsoft, Activision, Twitter, Thomson Locations: BRUSSELS, Brussels, China

☆ UK's CMA open to new Microsoft-Activision probe after u-turn
▼ + stars: | 2023-07-12 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

"It is really an unprecedented and dramatic turn of events," said Alex Haffner, competition partner at UK law firm Fladgate. Becket McGrath, a partner at Euclid Law, said it seemed like the CMA wanted a way out of an "uncomfortable position". Still, with the larger $69 billion deal back on track, the two sides are now focused on modifying the deal to obtain regulatory approval. Jonathan Compton, partner at law firm DMH Stallard and a specialist in competition law, said it was difficult to see what structural alterations the company could make. Britain's competition regulator has not given any further clarification on its U-turn or the new investigation, including whether it would fit into its Phase 1 and 2 process, the latter of which can take up to a year.

Persons: Alex Haffner, Becket McGrath, Jonathan Compton, DMH, Euclid's McGrath, Sarah Cardell, Paul Sandle, Muvija, Martin Coulter, Amy, Jo Crowley, Kate Holton Organizations: Microsoft, Activision, Markets Authority, CMA, European Union, Euclid Law, Thomson Locations: United States, Devika

☆ FTC says it will appeal to block Microsoft-Activision deal
▼ + stars: | 2023-07-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

On Wednesday, the agency filed to appeal a federal judge's decision to deny a request for a preliminary injunction that would have prevented the deal from closing. CNBC reported earlier on Wednesday that FTC could bring the judge's decision to the 9th Circuit appeals court. The FTC declined to comment on its legal response to the judge's decision. We're confident the U.S. will remain among the 39 countries where the merger can close," an Activision Blizzard spokesperson wrote in an email. WATCH: Activision CEO Bobby Kotick: Would be surprised if the FTC wastes taxpayer money on appeal

Persons: Jacqueline Scott Corley, Corley, Bobby Kotick, CNBC's Julia Boorstin, I'd, Kotick, Brad Smith, haven't, We're Organizations: Federal Trade Commission, Microsoft, Activision, U.S, Northern, Northern District of, FTC, CNBC, Wednesday Activision, Activision Blizzard, Markets Authority Locations: Northern District, Northern District of California, United Kingdom, U.S

☆ Morning Bid: Stocks rise, dollar slips as all eyes on US inflation
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

Economists polled by Reuters expect the consumer price index to have risen by 3.1% in June, after May's 4% rise. The core rate is expected to have dropped for a third straight month to 5% from 5.3%. ING economists think the core rate would need to come in well below the forecast for a July rate hike to look doubtful. Markets are pricing in a 92.4% chance of a 25 bps hike in July, CME FedWatch tool showed. Elsewhere, the spotlight will also be on the Bank of Canada's policy decision, with the central bank likely heading toward a second consecutive quarter-point interest rate hike.

Persons: Ankur Banerjee, it's, Muralikumar Organizations: Ankur, Federal, Reuters, ING, Microsoft, Activision, Sony, Bank of, Reuters Graphics Reuters, Thomson Locations: Asia, Pacific, Japan, U.S, British, Spain, Portugal, Singapore

☆ FTC court ruling shows why vertical deals are hard to challenge: fmr. DOJ official Jamillia Ferris
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTC court ruling shows why vertical deals are hard to challenge: fmr. DOJ official Jamillia FerrisJamillia Ferris, former DOJ & FCC antitrust official and partner at Freshfields' antitrust, competition and trade group, joins 'Squawk Box' to discuss the state of the Microsoft-Activision deal, after a federal judge rejected the FTC's bid to block the $69 billion merger.

Persons: fmr, Ferris Organizations: FTC, DOJ, FCC, Microsoft, Activision

☆ Microsoft-Activision win will be huge tailwind for tech, says Jefferies' Brent Thill
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft-Activision win will be huge tailwind for tech, says Jefferies' Brent ThillBrent Thill, Jefferies analyst, joins 'Squawk on the Street' to discus Microsoft-Activision deal as the latter company sees shares soar.

Persons: Jefferies, Brent Thill Brent Thill Organizations: Microsoft, Activision, Jefferies

☆ Sony to boost gaming unit with $2.17 bln R&D war chest for 2024 - Nikkei
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Sony Group (6758.T) will infuse 300 billion yen ($2.17 billion) to expedite research and development efforts for its gaming segment for 2024, to catch up with its competitor Microsoft (MSFT.O), the Nikkei reported on Thursday. Sony will now aim to focus on live service games that let customers purchase add-ons for titles streamed online, moving away from its sole reliance on sales of its PlayStation game console, Nikkei said. The technology and entertainment conglomerate is expected to spend about 760 billion yen for company-wide R&D for fiscal 2024, the report said. Sony plans to have 12 live service game titles in its portfolio by fiscal 2026, up from just one in fiscal 2021, the Nikkei added. "We will continue to make strategic investments going forward, prioritizing intellectual property," Nikkei quoted Sony Group president Hiroki Totoki.

Persons: Hiroki Totoki, Roushni Nair, Shailesh Organizations: Sony Group, Microsoft, Nikkei, Sony, PlayStation, Gaming, Activision Blizzard, Thomson Locations: Bengaluru

☆ Microsoft-Activision deal not yet game on
▼ + stars: | 2023-07-12 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Britain’s antitrust regulator also indicated it was open to new concessions, but the parties will have to renegotiate their deal and get it approved. Two developments on Tuesday increased the odds of Microsoft getting the deal down the line. That’s a rapid change of tone from May, when the watchdog concluded blocking the Microsoft-Activision deal is the “only effective and proportionate way forward." As a result, Activision’s share price jumped 11% on Tuesday, its narrowest spread to Microsoft’s $95-a-share offer since the deal was announced. The agency's concern was that the deal would potentially preclude the availability of those videogames on other platforms.

Persons: hasn’t, Satya Nadella, it’s, ”, Brad Smith, Bobby Kotick, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Federal Trade Commission, Activision Blizzard, Microsoft, Markets Authority, Activision, FTC, CMA, Financial, Thomson Locations: U.S, San Francisco

☆ Activision CEO Bobby Kotick: Would be surprised if the FTC wastes taxpayer money on appeal
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailActivision CEO Bobby Kotick: Would be surprised if the FTC wastes taxpayer money on appealCNBC's Julia Boorstin joins 'Closing Bell' with Activision Blizzard CEO Bobby Kotick, to discuss the future of the Microsoft deal after a major ruling in the acquisitions favor this week.

Persons: Bobby Kotick, CNBC's Julia Boorstin Organizations: Activision, Microsoft

☆ CNBC Daily Open: Red hot tech
▼ + stars: | 2023-07-12 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Energy stocks led Wall Street gainsU.S. stocks rose for a second session Tuesday, with energy stocks the leading advancers in the S&P 500 as WTI crude rose to its highest level since May 1. [PRO] Goldman's bullish on XpengGoldman Sachs initiated coverage of Xpeng with a buy rating, seeing nearly 30% upside for the Chinese electric-vehicle maker.

Persons: Warren, Temasek's, Lina Khan's, Recep Tayyip Erdoğan, Xpeng Goldman Sachs Organizations: New York Stock Exchange, CNBC, Energy, Wall Street, Traders, Dow Jones Industrial, Buffett, Temasek, Federal Trade, Microsoft, Activision Blizzard, NATO, EU Locations: New York City, Berkshire, U.S, Temasek, India, Southeast Asia, EU, Turkey, Sweden

☆ FTC could appeal Microsoft-Activision ruling as soon as Wednesday
▼ + stars: | 2023-07-12 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

The Federal Trade Commission could appeal a judge's decision against its attempt to block Microsoft and Activision Blizzard from closing their $68.7 billion deal as soon as Wednesday, a source familiar with the matter confirmed to CNBC. Bloomberg first reported that the agency was leaning toward an appeal after U.S. District Judge Jacqueline Scott Corley denied the FTC's request for a preliminary injunction. The FTC has not reached a final decision on appealing, according to the source, who was not authorized to speak publicly on internal discussions. But the temporary restraining order that prevents Microsoft and Activision from closing will expire after 11:59 p.m. PT on Friday. Even if it appeals, the agency will be racing against the clock of the deal deadline until the court acts.

Persons: Lina Khan, Jacqueline Scott Corley, Brad Smith, we've, Steve Kovach Organizations: Energy, Federal Trade Commission, Microsoft, Activision Blizzard, CNBC, Bloomberg, U.S, FTC, Activision, Markets Authority, Sony Locations: Rayburn, U.S

☆ Morning Bid: Dollar swoons in upbeat inflation vigil
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWorld markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar (.DXY) slide to two-month lows that's revved-up yen and sterling gains. And June's CPI readout should be a marker if the consensus forecast for almost a full percentage-point drop in the headline inflation rate to two year lows of just 3.1% is borne out. Still, encouraged by a screed of other positive disinflation signals this week, U.S. markets are relatively buoyant going into the release and still feel the end of the Fed rate rise campaign is nigh. UK bank stocks pushed higher on the rates view and a relatively clean bill of health from Wednesday's financial stability report from the BOE. The Reserve Bank of New Zealand paused its long-running rate rise campaign early on Tuesday.

Persons: Mike Dolan, BOE, Thomas Barkin, Raphael Bostic, Neel Kashkari, Loretta Mester, Joe Biden, Nick Macfie Organizations: Federal Reserve, Fed, yearend, Treasury, Bank of Japan, Bank of, recoiling, Reserve Bank of New Zealand, Bank of Canada, Japan's Nikkei, Microsoft, Activision, Richmond Federal, Atlanta Fed, Minneapolis Fed, Cleveland Fed, NATO, . Treasury, Reuters, Reuters Graphics, Thomson Locations: U.S, Asia, Shanghai, Hong Kong, British, Vilnius

A reckoning for Lina KhanA federal judge’s decision to let Microsoft close its $70 billion takeover of the video game maker Activision Blizzard didn’t just represent a win for the tech giant. Microsoft is close to clinching the deal. In her 53-page ruling, Judge Jacqueline Scott Corley wrote that the F.T.C. had failed to show that Microsoft buying the maker of Call of Duty would substantially reduce competition in the video game market. That means the Activision deal, the largest tech acquisition ever, could close as soon as next week.

Persons: Lina Khan, Jacqueline Scott Corley Organizations: Microsoft, Activision, Britain’s, Authority

☆ Activision Win Is Big for Microsoft—Smaller for Big Tech
▼ + stars: | 2023-07-11 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/activision-win-is-big-for-microsoftsmaller-for-big-tech-26d797e6

Persons: Dow Jones Organizations: activision

WASHINGTON, July 11 (Reuters) - A U.S. judge ruled on Tuesday that Microsoft may go forward with its planned acquisition of videogame maker Activision Blizzard, turning aside antitrust enforcers' request for a preliminary injunction to temporarily stop the $69 billion deal. The FTC had originally asked the judge to stop the proposed deal, arguing it would give Microsoft Corp (MSFT.O), maker of the Xbox gaming console, exclusive access to Activision (ATVI.O) games including the best-selling "Call of Duty." The deal would be the largest for Microsoft and the biggest in the history of the videogame business. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming. And while much of the testimony in the recent trial focused on "Call of Duty," Activision produces other bestsellers like "World of Warcraft," "Diablo" and the mobile game "Candy Crush Saga."

Persons: Jacqueline Scott Corley, Douglas Farrar, we'll, Brad Smith, Bobby Kotick, Satya Nadella, Diane Bartz, Caitlin Webber Organizations: Microsoft, Activision, Britain's, Markets Authority, Federal Trade Commission, FTC, Microsoft Corp, Sony PlayStation, Nintendo, Sony Group, Activision Blizzard, PlayStation, Thomson Locations: U.S, San Francisco

New York Fed President John Williams in an interview with the Financial Times said the central bank is not done raising rates. Amazon.com (AMZN.O) outpaced megacap peers, up 0.8%, going into the "Prime Day" 48-hour shopping event, which falls on July 11-12. ET, the Dow Jones Industrial Average (.DJI) was up 150.60 points, or 0.44%, at 34,095.00, the S&P 500 (.SPX) was up 9.33 points, or 0.21%, at 4,418.86, and the Nasdaq Composite (.IXIC) was up 2.20 points, or 0.02%, at 13,683.19. Eight of the top 11 S&P 500 sectors advanced, with energy (.SPNY) leading gains by 1.9%. The S&P index recorded 40 new 52-week highs and one new low, while the Nasdaq recorded 71 new highs and 25 new lows.

Persons: Dow, Phil Blancato, Ladenburg, John Williams, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur, Maju Samuel Organizations: JPMorgan, Jefferies, Dow, Nasdaq, Fed, Asset Management, New York Fed, Financial Times, Dow Jones, Activision, Microsoft, Salesforce, Bank of America Global Research, JPMorgan Chase, NYSE, Thomson Locations: U.S, Bengaluru

☆ Microsoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules
▼ + stars: | 2023-07-11 | by ( Sarah E. Needleman | Dave Michaels | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/microsoft-activision-blizzard-deal-ftc-hearing-d42675f1

Persons: Dow Jones Organizations: microsoft, activision

A federal judge on Tuesday ruled against the Federal Trade Commission’s attempt to delay Microsoft’s $70 billion acquisition of Activision Blizzard, setting the stage for the tech giant and the video game publisher to merge as soon as this month. In a 53-page decision, Judge Jacqueline Scott Corley of U.S. District Court for the Northern District of California said the F.T.C. had failed to show it was likely to prove that the merger was likely to result in a substantial reduction in competition that would harm consumers. The ruling is a significant blow to the F.T.C.’s efforts to police blockbuster tech mergers more aggressively. has sued Microsoft, Meta and Amazon, but it walked away from one of its cases against Meta and has had little to show for its efforts so far.

Persons: Jacqueline Scott Corley, Lina Khan Organizations: Federal Trade, Activision Blizzard, U.S, Northern, Microsoft, Meta Locations: Northern District, California

☆ Microsoft-Activision deal moves closer as judge denies FTC injunction request
▼ + stars: | 2023-07-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

A federal judge in San Francisco has denied the Federal Trade Commission's motion for a preliminary injunction to stop Microsoft from completing its acquisition of video game publisher Activision Blizzard. The judge was deciding whether to grant the FTC's request for an emergency injunction to prevent the deal from closing. Microsoft CEO Satya Nadella and Activision Blizzard CEO Bobby Kotick both testified, as did executives from Alphabet, Nvidia and Sony. Kotick said during the hearings that the Activision Blizzard board didn't see how the deal could continue if the judge were to grant the preliminary injunction. "After today's court decision in the U.S., our focus now turns back to the UK.

Persons: isn't, Jacqueline Scott Corley, Bobby Kotick, Brad Smith, we've, Satya Nadella, we'll, Kotick, Smith Organizations: Federal, Microsoft, Activision Blizzard, FTC, Competition, Markets Authority, Court, Activision, U.S, Northern, Northern District of, PlayStation, Nvidia, Sony, Federal Trade Commission, CMA Locations: San Francisco, United Kingdom, Northern District, Northern District of California, Europe, U.S

☆ As the narrative of a looming recession loses steam, Jim calls out these stocks that are in favor
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

As the narrative of a looming recession loses steam, Jim calls out these stocks that are in favorA broader market rally Tuesday is giving a boost to cyclicals and energy, while defensives lag. And the strike down of the FTC's motion to stop Microsoft from acquiring Activision Blizzard opens possibilities of more deal making.

Persons: Jim Organizations: Microsoft, Activision

☆ Factbox: What's next after US judge rules in favor of Microsoft-Activision deal?
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

With the first fight in federal court in California wrapped up, the agency and companies have decisions to make about what comes next. * Or the agency may choose to challenge Corley's ruling in a federal appeals court. An administrative law judge at the FTC is scheduled to hear arguments about the deal in August. The next stop after that would be a federal appeals court. * If the FTC wins, the companies can appeal to the commission to overturn the decision and, if needed, take the case to a federal appeals court.

Persons: Jacqueline Scott Corley, Corley's, Michael Chappell, Lina Khan, Chappell, Khan, Diane Bartz, Matthew Lewis, David Gregorio Our Organizations: Microsoft, Activision, U.S . Federal Trade Commission, Meta, FTC, Thomson Locations: California, Illumina's, Washington

Search resuls for: "activision"

25 mentions found