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☆ Take-Two gains on gaming demand rebound, title delivery forecast
▼ + stars: | 2023-05-17 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

The company also said it expects to deliver 36 video game titles through 2025 and 2026, and forecast $8 billion in 2025 net bookings and over $1 billion in operating cash flow. Take-Two, however, did not make any announcements about its highly anticipated title "Grand Theft Auto VI". Its fourth-quarter adjusted sales grew 65% to $1.39 billion, compared with Wall Street's estimate of $1.34 billion, according to Refinitiv data. During an earnings call with analysts, Chief Executive Strauss Zelnick said Take-Two was assuming a continuation of the current challenging consumer backdrop within its forecast. Its annual adjusted revenue forecast between $5.45 billion and $5.55 billion came below Street's estimate of $6.07 billion.

☆ Take-Two beats adjusted sales estimates on higher gaming demand
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Take-Two Interactive Software Inc (TTWO.O) on Wednesday beat Wall Street estimates for fourth-quarter adjusted sales on strong demand for legacy titles "NBA 2K" and "Grand Theft Auto", sending the video game maker's shares up over 7% after the bell. Take-Two has established itself as one of the dominant players in the U.S. with strong sales from its successful video game franchises and a solid pipeline including titles "Grand Theft Auto VI" and "Star Wars Hunters". Fourth-quarter adjusted sales grew 65% to $1.39 billion, compared with Wall Street's estimate of $1.34 billion, according to Refinitiv data. However, its annual adjusted revenue forecast between $5.45 billion and $5.55 billion came below Street's estimate of $6.07 billion. Reporting by Tiyashi Datta and Yamini Kalia in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ UK regulators must understand need to promote growth, Hunt says
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 17 (Reuters) - British regulators should understand the need to promote growth, finance minister Jeremy Hunt said on Wednesday when asked about the UK's antitrust watchdog's decision to block Microsoft's (MSFT.O) $69 billion acquisition of Activision (ATVI.O). "One of the reasons that companies like Microsoft and Google want to invest in the UK is because we have independent regulators that aren't controlled by politicians," Hunt told a business conference. "I would not want to undermine that at all, but I do think it's important all our regulators understand their wider responsibilities for economic growth." The European Union cleared the deal on Monday, accepting a practically identical set of remedies put forward by Microsoft that the CMA had rejected. Reporting by David Milliken and Sachin Ravikumar, writing by William James, editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

The Commerce Department reported retail sales rose 0.4% in April, at half the pace against an expected increase of 0.8%. "The retail sales data has been positive in several months, but it's still weak," said Jamie Cox, managing partner at Harris Financial Group. You are probably seeing the end of the decline in retail sales, but it's not going to be a smooth ride from here." Dow Jones Industrial Average (.DJI) component Home Depot (HD.N) shed 1.4%, hitting its lowest level in over six months after the company lowered its annual sales forecast. Shares of Capital One Financial Corp (COF.N) jumped 2.4%, rising the most on the S&P 500, after Berkshire Hathaway Inc (BRKa.N) on Monday disclosed it has begun investing in the consumer lender.

☆ UK's competition boss: We do not want a hostile environment for tech
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - The head of Britain's anti-trust regulator said it was not seeking to create a "hostile environment" for tech companies with its decision to block Microsoft's $69 billion acquisition of Activision Blizzard. Cardell added that the CMA had engaged widely with companies across the sector. "I don't find that we are operating sort of, broadly speaking, in a hostile environment," she added. The U.S. Federal Trade Commission has also filed a complaint to block the deal, which Microsoft has indicated it will fight. Reporting by Sarah Young and Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire Hathaway Opens New Position in Capital One, Exits BNY Mellon
▼ + stars: | 2023-05-16 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Berkshire’s annual shareholder meeting in Omaha, Neb., was held earlier this month. Photo: Madeline Cass for The Wall Street JournalWarren Buffett ’s company spent the first quarter opening a new position in Capital One Financial and adding to its already large holdings of Bank of America and Apple . A regulatory filing released Monday showed Berkshire Hathaway trimmed its stakes in Chevron , General Motors , Amazon.com and Activision Blizzard , among other companies. It dumped the remainder of its stakes in Taiwan Semiconductor Manufacturing , Bank of New York Mellon , U.S. Bancorp and RH , the home-furnishings company formerly known as Restoration Hardware.

The Commerce Department reported retail sales rose 0.4% in April, at half the pace against an expected increase of 0.8%. "The retail sales data has been positive in several months, but it's still weak," said Jamie Cox, managing partner at Harris Financial Group. You are probably seeing the end of the decline in retail sales, but it's not going to be a smooth ride from here." The S&P 500 retail index (.SPXRT) lost 0.6%. Shares of Capital One Financial Corp (COF.N) jumped 5.4%, rising the most on the S&P 500, after Berkshire Hathaway Inc (BRKa.N) on Monday disclosed it has begun investing in the consumer lender.

☆ Microsoft CEO Satya Nadella on OpenAI relationship, generative A.I., Microsoft-Activision deal
▼ + stars: | 2023-05-16 | 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 CEO Satya Nadella on OpenAI relationship, generative A.I., Microsoft-Activision dealCNBC's Andrew Ross Sorkin sits down with Microsoft CEO Satya Nadella to discuss the company's relationship with OpenAI, concerns of A.I. moving too fast, Microsoft-Activision merger, and more.

☆ Keith Meister’s Corvex Management bets on Amazon, slashes other big tech holdings
▼ + stars: | 2023-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Keith Meister's Corvex Management scooped up shares of Amazon during the first quarter, while slashing its stakes in technology giants Alphabet and Microsoft . Meister also bought shares of Endeavor Group , a position worth $44.9 million at the end of the first quarter. Other new bets from Corvex included a $22.7 million position in Uber Technologies and a stake in Algonquin Power . Prior to launching Corvex, Meister worked closely with legendary activist investor Carl Icahn. At the end of the first quarter, Corvex managed about $2.9 billion in regulatory assets, according to securities filings.

☆ Microsoft is 'putting their money where their mouth is,' says asset management firm
▼ + stars: | 2023-05-16 | 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 is 'putting their money where their mouth is,' says asset management firmJake Dollarhide of Longbow Asset Management discusses European Union regulators' approval of Microsoft's proposed $69 billion acquisition of gaming firm Activision Blizzard.

☆ Microsoft’s Activision Deal Goes Down to the Wire
▼ + stars: | 2023-05-15 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

An EU antitrust regulator approved Microsoft’s $75 billion deal to buy gaming company Activision Blizzard on Monday, a win for the two companies after a U.K. regulator rejected the deal in April. Photo: Avalon/Zuma PressLike any good videogame, Microsoft ’s proposed takeover of Activision Blizzard seems to have multiple—though not infinite—lives. The European Commission approved the deal on Monday morning. The announcement came just three weeks after the U.K.’s Competition and Markets Authority issued a surprise ruling against the proposed merger.

☆ Microsoft wins EU antitrust approval for Activision deal vetoed by UK
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +4 min

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Microsoft has in recent months signed licensing deals with Nvidia (NVDA.O), Nintendo (7974.T), Ukraine's Boosteroid and Japan's Ubitus to bring Activision games to their platforms should the deal go through. "The European Commission has required Microsoft to license popular Activision Blizzard games automatically to competing cloud gaming services. CLOUD GAMING MARKET GROWTHVestager said the Commission had a different view from UK regulators of how the game streaming market, which accounted for just 1% of the total market last year, would develop. "Microsoft and Activision’s lawyers will also use the decision to provide greater ballast to their appeal of the CMA's decision."

☆ Microsoft wins EU antitrust nod for Activision deal, after UK veto
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 15 (Reuters) - Microsoft has won EU antitrust approval for its $69 billion Activision takeover, which was vetoed by Britain, after regulators said its offer of free 10-year licensing deals to gamers and cloud streaming rivals addressed their concerns. The European Commission said on Monday that the biggest-ever deal in gaming was pro-competitive due to Microsoft's (MSFT.O) licensing deals, confirming a Reuters report in March. Such licenses are "practical and effective", European Union antitrust chief Margrethe Vestager told reporters. "Actually they significantly improve the condition for cloud game streaming compared to the present situation, which is why we actually consider them pro-competitive," she added. The EU watchdog said Microsoft has offered 10-year free licensing deals to European consumers and cloud game streaming services for Activision's (ATVI.O) PC and console games.

☆ Microsoft’s $75 Billion Activision Blizzard Deal Gets EU Approval
▼ + stars: | 2023-05-15 | by ( Kim Mackrael | Sarah E. Needleman | ) www.wsj.com time to read: 1 min

A U.K. antitrust regulator rejected Microsoft’s $75 billion deal to buy gaming company Activision Blizzard on Wednesday. The deal is also being scrutinized by the European Commission and the Federal Trade Commission. Photo: Jae C. Hong/Associated PressBRUSSELS—The European Union’s antitrust watchdog approved Microsoft ’s planned $75 billion acquisition of Activision Blizzard , giving the two companies a win after the deal hit a regulatory roadblock in the U.K. The decision comes weeks after the U.K. regulator rejected the agreement, saying it would crimp competition in the country’s gaming market. Monday’s approval in Brussels won’t have any direct legal bearing on that process, and antitrust lawyers say Microsoft faces long odds in overturning the British decision.

☆ EU approves Microsoft’s deal to buy Activision Blizzard
▼ + stars: | 2023-05-15 | by ( Brian Fung | ) edition.cnn.com time to read: 1 min

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☆ Vestager on Microsoft-Activision deal: 'We had a concern about cloud gaming'
▼ + stars: | 2023-05-15 | 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 EmailVestager on Microsoft-Activision deal: 'We had a concern about cloud gaming'"We had a concern about cloud gaming, [which is] very nascent right now, but it will grow," Margrethe Vestager, the EU's top competition official, told CNBC's Silvia Amaro on Monday.

It would be a striking show of leniency by a notoriously tough regulator. has been among the most aggressive in policing Big Tech, having fined companies like Google billions and forced changes in their business practices. And given the size and importance of the British, European and U.S. markets, simply ignoring any one of them is impossible. ; overturning the British regulator’s decision is expected to be especially tough. appeal could take months, and will review only whether the regulator’s decision followed proper procedures.)

☆ Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more
▼ + stars: | 2023-05-15 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oneok shares slid 7.7%. The IRS is due to release the report this week, the Wall Street Journal reported. Activision shares added 1%, while Microsoft was little changed. The Wall Street firm said shares trade at a significant discount to peers. The Coach and Kate Spade parent has a strong valuation and long-term investment case, the Wall Street firm said.

☆ Activision Blizzard, Microsoft $75 Billion Deal Approved by EU Regulators
▼ + stars: | 2023-05-15 | by ( ) www.wsj.com time to read: 1 min

Your AI Clone Can Fool Family, Your Bank, But Not Your Video MeetingYou can pay companies to create video and audio versions of yourself using generative artificial intelligence. But how well does it work? WSJ senior personal tech columnist Joanna Stern joins host Zoe Thomas to explain what it was like to work with her AI clone, and why it has her worried. Illustration: Amogh Alva Vaz/WSJ

☆ E.U. Approves Microsoft’s $69 Billion Deal for Activision
▼ + stars: | 2023-05-15 | by ( Adam Satariano | ) www.nytimes.com time to read: +2 min

American and British regulators said Microsoft’s purchase of Activision would undercut this still-developing sector of the gaming industry before it had a chance to bloom. After negotiating the concessions with Microsoft, European Union officials said they concluded that the deal could go through, particularly because the cloud gaming market is still so small. In the European Union, PlayStation has a much larger market share than Xbox. Authorities also noted that Microsoft and Activision have a relatively small market share for mobile games, which accounts for about half of the overall video game market in European Union. The approval is a rare occasion where European regulators appear to be more accommodating to the tech industry than the United States.

☆ EU approves Microsoft's $69 billion acquisition of Activision Blizzard, clearing major hurdle
▼ + stars: | 2023-05-15 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

European Union regulators on Monday approved Microsoft's proposed $69 billion acquisition of gaming firm Activision Blizzard , subject to remedies offered by the U.S. tech giant. These remedies centered on allowing users to stream Activision games they purchase on any cloud streaming platform. Regulators globally have been probing whether Microsoft's acquisition of Activision could distort competition in the console and cloud gaming market. One area regulators questioned is whether Microsoft might take Activision games and keep them exclusively on the U.S. giant's own platforms. Microsoft sought to allay the Commission's concerns over making Activision games exclusive ahead of the EU decision.

☆ Warren Buffett's Berkshire Hathaway adds Capital One and these other stocks to holdings
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway made a slew of changes to its massive equity portfolio last quarter, including adding a financial stock during the latest banking crisis, according to a new regulatory filing. The Omaha-based conglomerate built a new stake in Capital One Financial in the first quarter, worth more than $950 million, the filing showed. Apple, Activision and more Berkshire hiked its two biggest holdings - Apple and Bank of America - slightly in the first quarter. Buffett said at Berkshire annual meeting that "it's not good news when any company passes its dividend, or cuts its dividend dramatically." Outside of top holdings, Berkshire added a small stake - worth about $40 million - in Diageo , a British alcoholic beverage company.

☆ The UK has restricted Microsoft and Activision from acquiring an interest in each other after blocking $68.7 billion merger
▼ + stars: | 2023-05-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

The UK is restricting Microsoft and Activision from acquiring an interest in each other. The competition regulator published an interim order to prevent any action without its consent. The decision comes weeks after it made a decision to block a $68.7 billion merger between the two. The UK's competition regulator has issued an interim order to restrict Microsoft and Activision from acquiring an interest in each other. It comes weeks after the decision by the regulator, the Competition and Markets Authority (CMA), to block a $68.7 billion merger between the two companies.

☆ EU decision clearing $69 billion Microsoft, Activision deal expected May 15, sources say
▼ + stars: | 2023-05-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo AllegriBRUSSELS, May 10 (Reuters) - EU antitrust regulators are set to approve Microsoft Corp's (MSFT.O) $69 billion acquisition of Activision (ATVI.O) next week, with May 15 as the likeliest date, people familiar with the matter said. The European Commission's imminent clearance comes nearly three weeks after the UK competition authority blocked the deal, the biggest-ever deal in gaming, over concerns it would hinder competition in cloud gaming. U.S. distributor Valve Corp, owner of the world's largest video game distribution platform, Steam, declined a contract saying it trusts Microsoft. (This story has been corrected to say that Valve does not have a licensing deal with Microsoft in paragraph 4)Reporting by Foo Yun Chee; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

May 10 (Reuters) - Roblox Corp (RBLX.N) on Wednesday topped quarterly bookings estimates on Wednesday, as a wider audience swarmed to the platform for games such as "Adopt Me!" However, adjusted loss of 44 cents per share was bigger than analysts' expectation of 40 cents loss per share, according to Refinitiv data. Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss. "We also expect our operating expenses to increase significantly in future periods", the company said, adding it intends to continue to make investments to grow its business and hire more people. Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

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