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Microsoft (MSFT) closed its landmark acquisition of Activision Blizzard (ATVI), according to a company regulatory filing Friday, furthering the Big Tech name's video game ambitions. However, this biggest video game deal ever was completed despite the Federal Trade Commission's (FTC) ongoing fight to block it. Activision reported $7.5 billion in revenue for the 2022 fiscal year, in comparison to Microsoft's $212 billion in sales for the same period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected.
Persons: Victoria Graham, Jim Cramer, Jim, Tony Hawk, Jim Cramer's Organizations: Microsoft, Activision Blizzard, Big Tech, Activision, pushback, Markets, CMA, Ubisoft, Federal Trade Commission's, CNBC, FTC, Xbox, Nurphoto, Getty Locations: U.S, OpenAI
Plus, it will be “productive for the gaming industry as a whole and healthy for competition in the gaming market,” he said. In the meantime, the U.K. regulator was the last major obstacle to the transaction going through. British regulators had initially blocked the transaction over concerns Microsoft could withhold Activision titles from the cloud gaming market. One factor was the EU’s approval, granted after Microsoft promised to automatically license Activision titles royalty-free to cloud gaming platforms. But the CMA's flip-flopping makes the U.K. regulator look “weak and indecisive,” he said.
Persons: Activision Blizzard, Candy, Overwatch —, Brad Smith, Bobby Kotick, Joshua Chapman, , Sarah Cardell, Max von Thun, ” von Thun, Matt O’Brien Organizations: , Activision, Markets, Microsoft, Xbox, Union, Sony, U.S . Federal Trade Commission, FTC, Ubisoft Entertainment, U.K, PlayStation, European Commission, Open Markets, CMA, AP Locations: Konvoy, U.K, Europe, Providence , Rhode Island
The Competition and Markets Authority said it had cleared the deal for Microsoft to buy Activision but without cloud gaming rights. Microsoft offered a spate of concessions, which centered around divesting the cloud rights of Activision games to French game publisher Ubisoft Entertainment. The U.K.'s regulatory U-turnRegulators globally were concerned that the takeover would reduce competition in the gaming market, in particular around cloud gaming. Meanwhile, in the U.S., the Federal Trade Commission was fighting a legal battle with Microsoft in an effort to get the Activision takeover scrapped. "As cloud gaming grows, this intervention will ensure people get more competitive prices, better services and more choice.
Persons: Dado Ruvic, we've, Sarah Cardell, Cardell Organizations: Activision, Markets Authority, Microsoft, CMA, Ubisoft Entertainment, Ubisoft, Netflix, Reuters, Authorities, European Union, EU, Federal Trade Commission, Activision PC Locations: U.S, Europe, U.K
Microsoft has cleared a key regulatory hurdle in the UK to acquire video game giant Activision Blizzard. The UK's competition watchdog approved Microsoft's $69 billion acquisition of the company. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementMicrosoft has received clearance from the UK's antitrust regulator for its $69 billion acquisition of video game giant Activision Blizzard. Microsoft and Activision Blizzard did not immediately respond to a request for comment from Insider, sent outside regular business hours.
Persons: Organizations: Microsoft, Activision, Service, Activision Blizzard, UK's, Markets Authority
"Today we start the work to bring beloved Activision, Blizzard, and King franchises to Game Pass and other platforms," Microsoft Gaming CEO Phil Spencer said in a blog post . Microsoft has closed its $69 billion acquisition of video game publisher Activision Blizzard , according to a regulatory filing by the company Friday. Activision Blizzard CEO Bobby Kotick will stay on as CEO through the end of the year. Microsoft CEO Satya Nadella, who took the helm in 2014, is aiming to diversify the company's business beyond its core areas such as operating systems and productivity software. WATCH: Microsoft deal with Activision Blizzard set to clear final hurdle
Persons: Phil Spencer, Tony Hawk, It's, Bobby Kotick, Satya Nadella, pushback, Victoria Graham, Activision Blizzard Organizations: Activision, Blizzard, Microsoft, Markets Authority, Federal Trade Commission, European Commission, Markets, Economic, Activision Blizzard, Nintendo, Sony, Nvidia, San, U.S, Appeals, Circuit, Ubisoft, FTC Locations: U.S, San Francisco federal
Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. In the United States, the U.S. Federal Trade Commission (FTC) has also fought the deal, and has an argument scheduled before an appeals court on Dec. 6. The agency said on Friday that it remained focused on that appeal. "The FTC continues to believe this deal is a threat to competition." Reporting by Diane Bartz; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, Victoria Graham, Diane Bartz, Susan Fenton Organizations: Federal Trade Commission, Washington , D.C, REUTERS, Rights, U.S . Federal Trade Commission, Activision, Ubisoft, Ubisoft Entertainment, Microsoft, Thomson Locations: Washington ,, Britain, United States
Microsoft, which owns the Xbox gaming system, closed its $69 billion deal to buy game-maker Activision Blizzard on Friday after fending off global opposition from antitrust regulators and rivals. It marks a career-defining moment for Spencer, who first joined Microsoft as an intern in 1988 and has helmed Xbox since 2014. When the companies announced a planned merger in January 2022, Microsoft CEO Satya Nadella made clear it would be "critical for Activision Blizzard to drive forward” on its commitments to improve its workplace culture. As of late last year, Activision Blizzard had 13,000 employees, about 72% in North America, according to a regulatory filing. “It is a new day for workers at Activision Blizzard,” said CWA President Claude Cummings Jr. in a statement Friday.
Persons: Phil Spencer, Spencer, , , Gil Luria, Davidson, he’s, Bobby Kotick, who's, Kotick, Satya Nadella, Joe Biden's, ” Luria, George Jijiashvili, Elder, ” Jijiashvili, Claude Cummings Jr, ” Cummings Organizations: Activision Blizzard, Microsoft, Activision, PlayStation, Sony, U.S . Federal Trade, ZeniMax Media, Bethesda Softworks, Communications Workers of America Locations: Southern California, U.S, United Kingdom, San Francisco, Bethesda, North America, Canada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK clears Microsoft's $69 billion acquisition of Activision BlizzardThe U.K. Competition and Markets Authority approved Microsoft to go ahead with its proposed $69 billion acquisition of Activision Blizzard, clearing the way for the deal to close globally. CNBC's Arjun Kharpal reports.
Persons: CNBC's Arjun Kharpal Organizations: Activision, Competition, Markets Authority, Microsoft, Activision Blizzard
That same year, Amazon unsuccessfully sought to get her recused from agency probes against the company, arguing she was too biased. The District of Columbia also tried to sue Amazon on antitrust grounds before, but its lawsuit was dismissed by a federal judge last year. Experts say the FTC faces a few hurdles in its own case, including convincing the court which slice of the market Amazon is allegedly monopolizing. In a blog post responding to the lawsuit, Amazon General Counsel David Zapolsky accused the FTC of attempting to “gerrymander alleged market” to portray Amazon as something it’s not. The FTC also alleges Amazon keeps sellers dependent on services that have allowed it to collect billions in revenue every year.
Persons: Lina Khan, hasn’t, Khan, Joe Biden, ” Khan, David Zapolsky, “ gerrymander, , Neil Saunders, Maurice Stucke, Stucke, Sean Sullivan, they’re Organizations: Federal Trade, Activision Blizzard, FTC, Microsoft, Yale Law, Amazon, of, Walmart, GlobalData, Google, Department of Justice, University of Tennessee, University of Iowa College of Law Locations: California, of Columbia, U.S, monopolization
Activision President Rob Kostich said he thinks the deal will make "Call of Duty" better. "This deal is good for the industry," Kostich told Games Beat. AdvertisementAdvertisementActivision Blizzard's president thinks that Microsoft could make the "Call of Duty" franchise even better. The UK Competition and Markets Authority previously blocked Microsoft's attempts to buy Activision Blizzard, causing Microsoft to reorganize the deal. "As we've said previously, this deal is good for the industry and will bring more games to more players," Kostich told Games Beat.
Persons: Rob Kostich, Kostich, , we've, Activision Blizzard Organizations: Microsoft, Activision Blizzard, Activision, Service, Markets, Ubisoft, Cloud Gaming, Sunday
The S & P 500 entered Friday's session down for the week, but a 1% rally put it on track to snap a four-week slide. Here are some of the most oversold names: PepsiCo is one of the most oversold companies in the S & P 500, scoring an RSI of 5.7 and a consensus price target implying more than 26% upside. Other oversold stocks include utility company NextEra Energy , hospitality and entertainment company MGM Resorts International and financial services firm State Street . Here are the 10 most overbought stocks in the S & P 500: Activision Blizzard made the list, with an RSI of 74.15. Pharmaceutical company McKesson and risk management software provider Assurant are also among the most overbought companies in the S & P 500.
Persons: Christopher Horvers, Activision Blizzard, UnitedHealth, it's Organizations: Group, PepsiCo, Dow Jones, CNBC Pro, Wall Street, Gatorade, Barclays, JPMorgan, HSBC, NextEra Energy, MGM Resorts International, Activision, Microsoft, Activision Blizzard, . Pharmaceutical, Seagate Technology Locations: overbought
Deal negotiations between Exxon and Pioneer are advanced but have not yet led to an agreement, Reuters reported on Thursday. These transactions were eventually allowed to be completed, and the regulator has not sued to thwart an oil and gas production deal since 2000. The lawyers and experts interviewed said the FTC would face an uphill struggle in challenging Exxon's attempted acquisition of Pioneer. "The modern U.S. experience is that oil and gas deals of any notable size get a close look. It sued to block the merger and only agreed to drop its objections after BP offered to divest oil production acreage in Alaska.
Persons: Joe Biden, Janet Yellen, Leah Millis, producer's, Lina Khan, Andre Barlow, Doyle, Barlow, Mazard PLLC, Sheldon Whitehouse, William Kovacic, George Washington, consultancies Wood MacKenzie, David Kass, Diane Bartz, David French, Mike Stone, Greg Roumeliotis, Marguerita Choy Organizations: Treasury, White, REUTERS, Exxon Mobil, Natural Resources, Exxon, Pioneer, Reuters, Federal Trade Commission, Democratic, George, Companies, Activision, FTC, Atlantic, BP, RBC Capital Markets, Chevron, PDC Energy, University of Maryland, Thomson Locations: Washington , U.S, U.S, Atlantic Richfield, Alaska, West Texas, New Mexico, Rystad, Denver, Julesburg, Washington ,, Atlanta
Microsoft looks to close Activision deal next week - The Verge
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +1 min
Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. REUTERS/Dado Ruvic/Illustration/file Photo Acquire Licensing RightsOct 6 (Reuters) - Microsoft (MSFT.O) is aiming to close its $69 billion deal for "Call of Duty" publisher Activision Blizzard (ATVI.O) on Oct. 13 if it gets approval from Britain's antitrust regulator, the Verge reported on Friday, citing a source. The Xbox maker had in July extended the cutoff date for the deal to Oct. 18 to get more time to secure approval from the UK. Microsoft won preliminary approval from the Competition and Markets Authority last month after Activision agreed to sell its streaming rights to Ubisoft Entertainment (UBIP.PA). Reporting by Zaheer Kachwala in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Activision Blizzard, Microsoft's, Zaheer Kachwala, Arun Koyyur Organizations: Microsoft, Activision, REUTERS, Competition, Markets, Ubisoft Entertainment, Thomson Locations: Bengaluru
Ofcom said it had identified features that made it more difficult for UK businesses to use multiple cloud suppliers. Amazon Web Services (AWS) and Microsoft had a combined 70-80% share of Britain's public cloud infrastructure services market in 2022, Ofcom said. Microsoft said it was committed to ensuring the UK cloud industry remained innovative and highly competitive. The CMA welcomed the move, saying effective competition in the 7.5 billion pound ($9.1 billion) UK market was essential. Google Vice President Amit Zavery said Ofcom's referral demonstrated the need to create an open cloud market with no vendor lock-in.
Persons: Dan Ridsdale, Edison, Dado Ruvic, Fergal Farragher, Amit Zavery, Yadarisa, Paul Sandle, Foo Yun Chee, Mark Potter, Jan Harvey, Jacqueline Wong, Jane Merriman Organizations: CMA, Microsoft, Ofcom, Amazon Web Services, Google, U.S . Federal Trade Commission, Markets, REUTERS, Cloud Infrastructure Services, Amazon, MICROSOFT, Activision Blizzard, Reuters, Thomson Locations: Britain, France, Japan, The Netherlands, South Korea, China, EU, Europe, Bengaluru, London, Brussels
Bill Gross , a widely followed investor once known as the bond king, said he's negative about both stocks and bonds, only seeing very limited opportunities in the market. "I'd pass on stocks and bonds in terms of future total returns," Gross, the former chief investment officer and co-founder of Pimco, wrote in his new investment outlook blog. Gross believes the Federal Reserve is unlikely to lower interest rates in a significant way in the face of inflation, so bond prices may not go higher anytime soon. "Unless Chair [Jerome] Powell and company can significantly lower real 10-year Treasury rates from 2.25%, investors may eventually realize that bonds are a better deal than clearly overvalued stocks headed into an economic slowdown/recession," Gross said. "Personally, I don't believe Powell will be willing or able to lower short rates significantly in the face of a 3% inflation future."
Persons: Bill Gross, Gross, Pimco, Jerome, Powell, CNBC's Organizations: Federal, CNBC, Activision
In our view, the companies in the regulators' sights — Alphabet 's (GOOGL) Google, Amazon (AMZN) and Microsoft (MSFT) — are not engaged in anti-competitive behavior. In January, the DOJ filed a second, separate antitrust lawsuit against Alphabet in the U.S. District Court for the Eastern District of Virginia. MSFT YTD mountain Microsoft YTD U.K. regulators have also hounded the Big Tech name, aiming to block Microsoft's acquisition of Activision over cloud gaming concerns. In a showdown years in the making, the FTC last month filed a highly-anticipated antitrust lawsuit against e-commerce giant Amazon. The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone and a laptop screen.
Persons: Satya Nadella, , Nadella, Bing, Jim Cramer, Activision Blizzard, ChatGPT, Morgan Stanley, Joe Biden, Lina Khan, Khan, Jim, Jim Cramer's, Justin Tallis Organizations: Big Tech, Google, Microsoft, Washington D.C, Justice, District of Columbia, DOJ, Eastern, of, Activision, Federal Trade Commission, FTC, Ubisoft, U.K, Markets Authority, Yale Law, Amazon, CNBC, Apple, Facebook, Getty Locations: Washington, U.S, of Virginia, Virginia, Amazon
[1/2] Chief Executive Officer of Microsoft Corporation Satya Nadella arrives to testify at the northern district of California during a trial as U.S. Federal Trade Commission seeks to stop Microsoft deal to buy Activision Blizzard, in Downtown San Francisco, California, U.S. June 28, 2023.... Acquire Licensing Rights もっと読むWASHINGTON, Sept 28 (Reuters) - Microsoft (MSFT.O) chief executive Satya Nadella is expected to testify on Monday as a witness for the U.S. Justice Department, according to a filing on the docket of its once-in-a generation court fight against Alphabet's (GOOGL.O) Google. THE TAKEThe government is likely to ask Nadella about Microsoft's efforts to expand the reach of Edge and Bing, its browser and search engine, and the obstacles posed by Google's dominance. Google will likely argue that the better quality of its products are the reason for its success rather than illegal behavior. * The clout in search makes Google a heavy hitter in the lucrative advertising market, boosting its profits. Reporting by Diane Bartz; Editing by Howard Goller私たちの行動規範:トムソン・ロイター「信頼の原則」
Persons: Microsoft Corporation Satya Nadella, Satya Nadella, Alphabet's, Diane Bartz, Howard Goller Organizations: Microsoft Corporation, . Federal Trade Commission, Microsoft, Activision Blizzard, U.S . Justice Department, Google, Edge, Bing, Apple Locations: California, Downtown San Francisco , California, U.S, 読む WASHINGTON
Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. The case is set to be heard 20 days after an appeals court rules on whether the deal may go forward. The FTC had fought the deal in district court but lost and appealed. "We have full confidence in our case and the deal's benefits to gamers and competition," a Microsoft spokesperson said by email. The FTC said in a statement it continued to believe that the deal was "a threat to competition" and so was putting the matter on its calendar.
Persons: Dado Ruvic, Victoria Graham, Diane Bartz, David Holmes, Richard Chang Organizations: Microsoft, Activision, REUTERS, Rights, U.S . Federal Trade Commission, FTC, Markets Authority, Ubisoft Entertainment, Thomson Locations: U.S, London
REUTERS/Kevork Djansezian Acquire Licensing RightsLONDON, Sept 27 (Reuters Breakingviews) - Microsoft’s (MSFT.O) gaming master plan is slowly coming together. But Microsoft’s gaming revenue was still around 8% of group sales, or $15 billion, for the year ended June 2022. Given these risks, it makes sense for Nadella to grow his exposure to those parts of the gaming market which are less likely to be upended by cloud gaming. It remains possible that cloud gaming is a dog that doesn’t bark – or at least not for some time. As a result of the Activision deal, Nadella has a hedge of sorts against cloud gaming happening too fast.
Persons: Kevork, Satya Nadella’s, Ampere, , GamesIndustry.biz, Nadella, George Hay, Katrina Hamlin Organizations: Activision, REUTERS, Reuters, Bethesda, Microsoft, Satya Nadella’s Activision, Ampere, Sony, Nintendo, Reuters Graphics, Netflix, Gamers, Xbox, PlayStation, Big Tech, Apple, HK, reckons, Competition, Markets Authority, CMA, Xbox Cloud Gaming, Ubisoft Entertainment, Ubisoft, Thomson Locations: Los Angeles , California, United States, U.S
[1/2] SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Warner Bros. The SAG-AFTRA agreement covering video game performers expired last November and has been extended on a monthly basis as the union negotiated with major video game companies. As earnings climbed, video game company staff beyond the performers covered by SAG-AFTRA have been unionizing for the first time this year. In July, Sega workers formed the largest multi-department video game union in the United States, after Microsoft's video game testers formed their first U.S. labor union in January. For video game performers, the union is also calling for more safety measures for motion capture performers, who wear markers or sensors on the skin or a body suit to help game makers create characters' movements.
Persons: Mario Anzuoni, Cissy Jones, Jones, Delilah, AFTRA, Audrey Cooling, Ashly Burch, Danielle Broadway, Donna Bryson Organizations: Writers Guild of America, Warner Bros ., REUTERS, Campo Santo, SAG, Hollywood, Guild of America, PlayStation, Sony, Sega, Disney, Activision, EA, Epic Games, Thomson Locations: Burbank , California, U.S, United States
[1/2] Mascots dressed as characters from the mobile video game "Candy Crush Saga" pose outside the New York Stock Exchange ahead of the IPO of Mobile game maker King Digital Entertainment Plc March 26, 2014. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 27 (Reuters) - Candy Crush Saga, the matching game played by millions on their commute, has reached $20 billion in revenue since its 2012 launch, maker King said, adding that it would soon release levels up to 15,000 for the most dedicated players. King President Tjodolf Sommestad said Candy Crush Saga and its other titles like Farm Heroes Saga showed that mobile games could have enduring appeal. Todd Green, Candy Crush general manager, said the game was constantly updated to make it more satisfying, from optimising the tiny bounce when candies land in the grid to adding new levels, including the 15,000 milestone. "Candy Crush took us a few months to build but we added 10 years of development after that."
Persons: Brendan McDermid, King, Tjodolf Sommestad, Candy, Sommestad, Todd Green, Candy Crush, Crush, Paul Sandle, Bill Berkrot Organizations: New York Stock Exchange, Mobile, King Digital Entertainment, REUTERS, Facebook, Activision Blizzard, Microsoft, Thomson Locations: U.S
After voting closed on Monday, the SAG-AFTRA union said 98.32% of those who cast ballots had voted in favor of authorizing a strike. The writers union reached a preliminary labor agreement with major studios on Sunday. The SAG-AFTRA agreement covering video game performers expired last November and has been extended on a monthly basis as the union negotiated with major video game companies. In particular with AI, because right now there aren’t any protections,” Ashly Burch, “Horizon Zero Dawn” video game voice actor, told Reuters. The union will be negotiating with large video game companies, including Activision Blizzard (ATVI.O), Electronic Arts (EA.O), Epic Games, Formosa Interactive and others.
Persons: Mike Blake, ” Ashly Burch, Burch, AFTRA, , Audrey Cooling, Danielle Broadway, Himani Sarkar, Michael Perry Organizations: REUTERS, SAG, Hollywood, Guild of America, Reuters, Activision, Electronic Arts, Epic, Formosa Interactive, Thomson Locations: Los Angeles , California, U.S, Hollywood
Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months. Worries over China’s property sector, a U.S. government shutdown and the continued strike by American autoworkers were weighing on investor sentiment. The retreat has deepened with Wall Street’s growing understanding that interest rates likely won’t come down much anytime soon. Pressure has built on Wall Street as yields in the bond market climbed to their highest levels in more than a decade. The Nasdaq composite, which is full of tech and other high-growth stocks, slumped 3.6% for its worst week since March.
Persons: Hang Seng, Australia's, They’d, Shawn Fain, Ford, It’s, Brent Organizations: American, China Evergrande, Dow Jones, Nasdaq, Federal Reserve, U.S, Motors, United Auto Workers, Auto, Treasury, that’s, Nvidia, Microsoft’s, Activision, Microsoft, New York Mercantile Exchange Locations: Asia, Tokyo, U.S, China, Shanghai, Seoul, American
S&P 500, Nasdaq notch biggest weekly losses since March
  + stars: | 2023-09-22 | by ( Stephen Culp | ) www.reuters.com   time to read: +4 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. All three posted weekly losses, with the S&P 500 and the Nasdaq registering their largest Friday-to-Friday percentage drops since March. On Thursday, the S&P 500 dipped below its 100-day moving average - a key support level - for the first time since March, Its failure to break above that level suggests the index is still under downward pressure. Among the 11 major sectors of the S&P 500, consumer discretionary (.SPLRCD) suffered the steepest percentage loss, while tech (.SPLRCT) and energy (.SPNY) were the only gainers. The S&P 500 posted one new 52-week high and 35 new lows; the Nasdaq Composite recorded 33 new highs and 321 new lows.
Persons: Brendan McDermid, Alibaba, Zachary Hill, Hill, Jerome Powell, Michelle Bowman, Robert Pavlik, Li Auto, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Reuters, UAW, Dow, Nasdaq, Horizon Investments, Benchmark U.S, Treasury, Dakota Wealth, Dow Jones, Ford Motor, United Auto Workers, Activision, Microsoft, PDD Holdings, Baidu, Bloomberg, Hong, NYSE, Thomson Locations: New York City, U.S, Hong Kong, Charlotte , North Carolina, Fairfield , Connecticut, Bengaluru
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.
Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru
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