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☆ Microsoft’s $75 Billion Deal for Activision Blizzard Is in Peril
  + stars: | 2023-04-26 | by ( Kim Mackrael | Sarah E. Needleman | ) www.wsj.com   time to read: 1 min
Photo: Jae C. Hong/Associated PressThe U.K.’s antitrust watchdog rejected Microsoft Corp.’s $75 billion deal to buy game maker Activision Blizzard Inc., raising big questions about whether the combination will ever get done and disrupting both companies’ short-term strategies. The Competition and Markets Authority’s ruling, issued Wednesday, said Microsoft had failed to convince the agency that actions the companies had proposed since announcing the deal would sufficiently ease the regulator’s competition worries. The CMA has said the deal poses a competition threat to the U.K.’s videogame industry and has been reviewing the transaction for months.
☆ Watch CNBC's full interview with LightShed Partners' Rich Greenfield
  + stars: | 2023-04-26 | 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 LightShed Partners' Rich GreenfieldRich Greenfield, LightShed Partners co-founder, joins 'Squawk Box' to discuss the news of UK regulators blocking the Microsoft-Activision deal, YouTube ad revenue decline, the state of streaming, and more.
☆ Microsoft's $68.7 billion Activision takeover blocked by UK competition regulator
  + stars: | 2023-04-26 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +3 min
Microsoft's $68.7 billion takeover of Activision has been blocked by UK regulators. The UK's CMA blocked the deal on Wednesday over concerns antitrust concerns. Microsoft's $68.7 billion takeover of "Call of Duty" developer Activision has been blocked by the UK's competition regulator, marking a devastating blow to the blockbuster deal. According to the CMA, Microsoft already accounts for around 60-70% of global cloud gaming services through its Xbox platform and Azure. Microsoft and Activision did not immediately respond to Insider's request for comment.
☆ UK regulator blocks Microsoft’s $69 billion acquisition of Activision Blizzard
  + stars: | 2023-04-26 | 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 EmailUK regulator blocks Microsoft’s $69 billion acquisition of Activision BlizzardCNBC's Steve Kovach joins 'Squawk Box' to report on the latest news.
☆ Microsoft's blockbuster Activision deal may be doomed. But the tech giant's future is still bright
  + stars: | 2023-04-26 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +7 min
Microsoft 's (MSFT) proposed blockbuster acquisition of video-game publisher Activision Blizzard (ATVI) may be doomed thanks to British regulators. The U.K.'s top antitrust body — the Competition and Markets Authority — said Wednesday that it opposes Microsoft's $69 billion bid because of competition concerns in the budding cloud gaming market. Microsoft's multipart gaming business includes Xbox consoles, cloud-based Xbox Game Pass service and in-house titles, such as the long-running "Halo" series. The CMA's opposition centered on competition concerns in the burgeoning world of cloud gaming, which Jefferies analysts estimate is less than 2% of the overall gaming market. Cloud gaming enables players to, essentially, stream video games without having to buy a physical console.
☆ Microsoft’s blockbuster deal to buy Activision is in jeopardy. Here’s what could happen next
  + stars: | 2023-04-26 | by ( Brian Fung | ) edition.cnn.com   time to read: +5 min
UK officials said Wednesday they will block the company’s $69 billion deal to acquire video game giant Activision-Blizzard. It could also complicate Microsoft’s future in the gaming industry and severely upend Activision, which was in the throes of an internal crisis in the months leading up to the deal. By buying Activision, Microsoft would become the third-largest video game publisher in the world after Tencent and Sony. (The UK dropped its concerns about the console market in March, while the European Union reportedly does not oppose the deal.) In a memo Wednesday to employees, Kotick attempted to strike an optimistic note, whatever the outcome of the deal may be.
☆ Britain blocks Microsoft's $69 billion acquisition of Activision Blizzard
  + stars: | 2023-04-26 | by ( Ryan Browne Arjun Kharpal | Ryan Browne | Arjun Kharpal | ) www.cnbc.com   time to read: +2 min
An Activision Blizzard's Call of Duty: Modern Warfare video game is inserted into the Microsoft's Xbox One video game console arranged in Denver, Colorado, on Wednesday, Jan. 19, 2022. LONDON — Britain's top competition regulator on Wednesday moved to block Microsoft 's acquisition of video game publisher Activision Blizzard . Microsoft announced its intention to acquire Activision Blizzard in January 2022 for $69 billion, in one of the biggest deals the video game industry has seen to date. Sony , in particular, has voiced concern with Microsoft's Activision purchase. The Japanese gaming giant fears that Microsoft could make Call of Duty exclusive to its Xbox consoles in the long run.
☆ Stock Market Today: Dow Futures Waver; First Republic Stock Tumbles
  + stars: | 2023-04-26 | by ( ) www.wsj.com   time to read: 1 min
Activision shares are sinking ahead of the bell as investors digest a U.K. rejection of Microsoft's planned takeover of the game maker. The wild ride in First Republic stock continues, with the lender's shares down sharply. Stock futures are rising ahead of results from companies including Meta Platforms after the close. ET: the Journal's Nick Timiraos and Gunjan Banerji will join finance editor Charles Forelle for a discussion about the Fed and markets ahead of the central bank's meeting next week. Watch here.
☆ The U.K. Deals a Huge Blow to Microsoft’s $69 Billion Activision Bid
  + stars: | 2023-04-26 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
Microsoft’s video-game bet suffers a huge blowBritain’s mergers regulator on Wednesday blocked Microsoft’s $69 billion takeover bid for Activision Blizzard, ruling that buying the maker of “Call of Duty” would give the tech giant too much control of the thriving market for cloud-based video games. Shares in Activision tumbled 12 percent in premarket trading, while Microsoft’s stock was up almost 8 percent after a solid earnings report. The deal risks “undermining the innovation” happening in cloud gaming, the C.M.A. said, by giving control of popular game titles to Microsoft, which owns the Xbox platform. (Cloud gaming isn’t reliant on users owning expensive consoles.)
☆ Stocks making the biggest moves premarket: Activision Blizzard, Chipotle, First Republic Bank & more
  + stars: | 2023-04-26 | by ( Pia Singh | ) www.cnbc.com   time to read: +5 min
The company said Tuesday its upcoming quarterly revenue will range from $700 million to $750 million, compared to the expected $765.2 million from analysts surveyed by StreetAccount. The company reported an adjusted loss of $1.27 per share and $17.92 billion in revenue. Activision Blizzard — Activision Blizzard shares dropped about 10.4% in the premarket after a UK regulator blocked Microsoft's purchase of the video game publisher. ServiceNow will be announcing its quarterly earnings Wednesday after the bell. The gain came after fellow tech-related giant Microsoft reported quarterly earnings that exceeded expectations, boosting sentiment for Amazon.
☆ U.K. Blocks Microsoft’s Bid for Activision, a Blow to the Tech Giant
  + stars: | 2023-04-26 | by ( David Mccabe | Kellen Browning | ) www.nytimes.com   time to read: +1 min
British antitrust regulators on Wednesday blocked Microsoft’s plans to acquire the video game giant Activision Blizzard for $69 billion, a significant hurdle for what would be the largest consumer tech acquisition since AOL bought Time Warner two decades ago. The Competition and Markets Authority in Britain said in a statement that Microsoft’s proposal “failed to effectively address the concerns in the cloud gaming sector.”The decision bolsters an effort by the Federal Trade Commission to block the acquisition and is a red flag for big technology companies trying to make large deals despite increasing government scrutiny over whether they abuse their power to hurt rivals and consumers. “Microsoft already enjoys a powerful position and head start over other competitors in cloud gaming and this deal would strengthen that advantage giving it the ability to undermine new and innovative competitors,” Martin Coleman, the chair of a panel that conducted an investigation for the C.M.A., said in a statement.
☆ Microsoft can earn higher return on cash in bank than in Activision deal, says Oppenheimer's Horan
  + stars: | 2023-04-26 | 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 EmailMicrosoft can earn higher return on cash in bank than in Activision deal, says Oppenheimer's HoranTim Horan, Oppenheimer, and CNBC's Steve Kovach join 'Power Lunch' to discuss if the UK's competition authority actually helped Microsoft, why Microsoft's shares are up today and what this ruling means for other companies considering acquisition.
☆ Microsoft shares jump on strong results. Here’s what could be in store for the tech giant
  + stars: | 2023-04-26 | by ( Christina Falso | ) www.cnbc.com   time to read: 1 min
Market Movers rounded up the best reactions from investors and analysts on Microsoft 's latest earnings results. The experts, including Jim Cramer , discussed the megacap tech giant as shares of the stock jumped to a new 52-week high Wednesday, closing more than 7% higher. Microsoft posted fiscal third-quarter earnings that beat expectations after the bell Tuesday. Additionally, Britain's top competition regulator blocked Microsoft's $69 billion acquisition of Activision Blizzard . Microsoft is currently held in Cramer's Charitable Trust portfolio.
☆ Activision Blizzard pre-releases earnings after Britain blocks Microsoft deal
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +1 min
April 26 (Reuters) - "Call of Duty" maker Activision Blizzard (ATVI.O) beat quarterly bookings estimates on Wednesday, as it reported results a day earlier to allay concerns about its business after Britain blocked its $69 billion buyout by Microsoft Corp (MSFT.O). Activision said it planned to fully support Microsoft's efforts to appeal the decision, which has dealt an unexpected blow to the biggest-ever deal in gaming over concerns it would hinder competition in cloud gaming. "We remain confident that our deal with Microsoft benefits competition, consumers and job creation in markets around the world, especially in the UK," Activision CEO Bobby Kotick said. Activision reported quarterly bookings of $1.86 billion, compared with analysts' estimate of $1.79 billion, according to Refinitiv. Net income rose to $740 million, or 93 cents per share, from $395 million, or 50 cents per share, a year earlier.
☆ CNBC's David Faber on Microsoft-Activision acquisition: Deal is much closer to 'all dead'
  + stars: | 2023-04-26 | 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 EmailCNBC's David Faber on Microsoft-Activision acquisition: Deal is much closer to 'all dead'CNBC's Carl Quintanilla, Jim Cramer and David Faber discuss news of UK regulators blocking the Microsoft-Activision deal.
☆ Cramer's First Take: Microsoft stock went up because they don't need Activision
  + stars: | 2023-04-26 | 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 EmailCramer's First Take: Microsoft stock went up because they don't need ActivisionCNBC's Jim Cramer reacts to news of UK regulators blocking Microsoft's acquisition of Activision, and First Republic's plunging stock prices.
☆ UK blocks Microsoft $69 billion Activision deal over cloud gaming concerns
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: 1 min
LONDON, April 26 (Reuters) - Britain said it would block Microsoft's (MSFT.O) $69 billion acquisition of "Call of Duty" maker Activision Blizzard (ATVI.O) over its concerns it would hinder competition in cloud gaming. The country's antitrust regulator said Microsoft's commitment to offer access to Activision's multi-billion dollar "Call of Duty" franchise to leading cloud gaming platforms would not effectively remedy its concerns. Microsoft said in a statement it remained fully committed to this acquisition and would appeal. Reporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.
☆ When Megamergers Fall Apart
  + stars: | 2023-04-26 | by ( Lazaro Gamio | Lauren Hirsch | ) www.nytimes.com   time to read: +1 min
Lazaro Gamio andBritish antitrust regulators on Wednesday blocked Microsoft’s $69 billion bid to buy the gaming giant Activision Blizzard, threatening to kill the deal entirely. The ruling raises a broader question: How often do deals fall apart after they’re signed? So far this year, just 33 out of 3,347 bids to buy an American company have been withdrawn. In 2022, nearly 12,000 such deals were announced, totaling $170 billion, and 142 were withdrawn. A transaction can fall apart for any number of reasons, but when regulators step in to stop a merger, it’s generally because they have concerns the deal would have a detrimental effect on consumers, or the country at large.
☆ Microsoft-Activision Blizzard deal breakdown 'not a big deal' to Microsoft, says Jefferies' Thill
  + stars: | 2023-04-26 | 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 EmailMicrosoft-Activision Blizzard deal breakdown 'not a big deal' to Microsoft, says Jefferies' ThillBrent Thill, Jefferies analyst, joins 'Squawk on the Street' to discuss his take on Microsoft's pursuit of Activision Blizzard, insights into Microsoft's prospects in artificial intelligence, and more.
☆ Lightshed's Rich Greenfield on Microsoft-Activision deal: This was a very logical merger
  + stars: | 2023-04-26 | 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 EmailLightshed's Rich Greenfield on Microsoft-Activision deal: This was a very logical mergerRich Greenfield, LightShed Partners co-founder, joins 'Squawk Box' to discuss the news of UK regulators blocking the Microsoft-Activision deal, YouTube ad revenue decline, the state of streaming, and more.
☆ UK blocks Microsoft takeover of Activision Blizzard
  + stars: | 2023-04-26 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —The UK antitrust regulator has blocked Microsoft’s $69 billion purchase of Activision Blizzard, thwarting one of the tech industry’s biggest deals over concerns it will stifle competition in cloud gaming. “The cloud allows UK gamers to avoid buying expensive gaming consoles and PCs and gives them much more flexibility and choice as to how they play. Allowing Microsoft to take such a strong position in the cloud gaming market just as it begins to grow rapidly would risk undermining the innovation that is crucial to the development of these opportunities,” it added. “Alongside Microsoft, we can and will contest this decision, and we’ve already begun the work to appeal to the UK Competition Appeals Tribunal,” Activision Blizzard CEO Bobby Kotick said in a statement. “Cloud gaming needs a free, competitive market to drive innovation and choice.”The UK cloud gaming market is expected to be worth up to £1 billion ($1.2 billion) by 2026, around 9% of the global market, according to the Competition and Markets Authority.
☆ Investors should look at oversold stocks suffering from bloated inventories, says MAI's Chris Grisanti
  + stars: | 2023-04-26 | 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 EmailInvestors should look at oversold stocks suffering from bloated inventories, says MAI's Chris GrisantiChris Grisanti, chief equity strategist and senior portfolio manager at MAI Capital Management, and CNBC's Mike Santoli join 'The Exchange' to discuss the home builder trade, Microsoft's decision to squash its Activision deal, and investment opportunities in the healthcare sector.
☆ Microsoft-Activision deal collapse a 'discouraging' move for Big Tech, says former FTC commissioner
  + stars: | 2023-04-26 | 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 EmailMicrosoft-Activision deal collapse a 'discouraging' move for Big Tech, says former FTC commissionerBill Kovacic, former FTC commissioner and chair, joins 'Power Lunch' to discuss the reasons why the mega-deal between Microsoft and Activision fell apart in the United Kingdom, and why regulators there targeted the merger.
☆ Stocks making the biggest moves midday: Microsoft, Chipotle, Boeing, First Republic Bank and more
  + stars: | 2023-04-26 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Check out the companies making the biggest moves midday:Microsoft — Shares of tech giant Microsoft gained more than 8% Wednesday after a better-than-expected earnings report a day earlier. The company earned $1.17 per share on $69.79 billion in revenue, while analysts polled by Refinitiv expected it to earn $1.07 per share on revenue of $68.9 billion. The company also announced a $70 billion share buyback. 107230585First Republic — Shares of the regional bank fell more than 20% on Wednesday, extending their steep losses for the week. However, deposits for the first quarter totaled about $28.2 billion, down from $33.9 billion from the fourth quarter of 2022.
☆ Nasdaq climbs on strong Microsoft earnings, Boeing jumps
  + stars: | 2023-04-26 | by ( Sruthi Shankar Ankika Biswas | Sruthi Shankar | Ankika Biswas | ) www.reuters.com   time to read: +4 min
SummarySummary Companies Microsoft up as quarterly results top forecastsCloud firms gain on Microsoft earnings cheerActivision Blizzard down as UK blocks Microsoft dealIndexes: Dow off 0.02%, S&P up 0.16%, Nasdaq climbs 1%April 26 (Reuters) - The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates and their effect on the U.S. economy, while an upbeat forecast from Boeing further boosted sentiment. Earnings forecasts have improved, with analysts expecting a 3.9% contraction in first-quarter profit for S&P 500 companies compared with a 5.2% decline estimated at the beginning of the earnings season. Of the 124 S&P 500 companies that reported first-quarter profit through Tuesday, 79% topped analysts' expectations, as per Refinitiv IBES data. Meta Platforms Inc (META.O) is scheduled to report results after market close on Wednesday. Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE, while advancers outnumbered decliners by a 1.04-to-1 ratio on the Nasdaq.
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