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☆ 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.

☆ 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.

☆ 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.

☆ 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.

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.

☆ UK regulator holding up Microsoft's Activision deal set to get new powers to rein in Big Tech
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The U.K. government on Tuesday published a draft bill that would give a newly created division within the independent competition regulator powers to levy huge fines against Big Tech firms for competition abuses, and investigate and block acquisitions with greater speed. The draft Digital Markets, Competition and Consumers bill will take aim at tech companies with annual revenues of at least £25 billion ($31.2 billion) globally, or £1 billion in the U.K., according to a statement. That's sure to include Amazon , Apple , Google , Microsoft and Meta , which generated $514 billion, $394.33 billion, $282.8 billion, $198 billion and $116.6 billion in revenue respectively in 2022. The CMA has been at the center of some major Big Tech crackdowns lately. The watchdog has held up Microsoft's $69 billion acquisition of video game publisher Activision Blizzard with an in-depth competition investigation.

☆ Earnings playbook: Your guide to a busy week of earnings, featuring Meta and Amazon
▼ + stars: | 2023-04-24 | by ( Fred Imbert | ) www.cnbc.com time to read: +13 min

What history shows: GM has reported a better-than-expected bottom line in 29 of the last 30 quarters, per FactSet. McDonald's is set to report earnings in the premarket, with management slated to hold a call at 8:30 a.m. What history shows: History shows Google's parent company beats earnings expectations 68% of the time, with the stock averaging a gain of 1.6% on earnings day, per Bespoke. Meta Platforms is set to report earnings after market close, followed by a conference call at 5 p.m. What history shows: Bespoke data shows Intel beats earnings expectations 77% of the time.

☆ Big Tech earnings, crucial inflation call — here comes the biggest week of earnings season
▼ + stars: | 2023-04-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

U.S. District Judge Jacqueline Scott Corley dismissed the plaintiffs' first complaint in March after finding it failed to present enough information to back claims the acquisition would harm industry competition. The judge said at the time the plaintiffs could refile a new suit, which challenges the largest-ever video game industry deal. Lawyers for Microsoft said in a court filing last week that the gamers' original case "relied largely on flawed legal arguments based on outdated Supreme Court cases." The plaintiffs' lawyers have served subpoenas on companies including Activision and rivals including Nintendo of America Inc and Sony. The case is Demartini v. Microsoft, U.S. District Court, Northern District of California, 3:22-cv-08991-JSC.

☆ Jim Cramer's top 10 things to watch in the stock market Monday
▼ + stars: | 2023-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Pioneer Natural Resources (PXD) is the biggest independent oil exploration and production (E & P) play. Club holding Constellation Brands (STZ) reported an excellent quarter last week and gave you an 11% dividend increase. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Microsoft will release a Diablo IV Xbox Series X bundle alongside the game's launch on June 6. The $560 bundle includes an Xbox Series X console and a copy of Diablo IV for a small discount. The $560 Diablo IV bundle will include a standard Xbox Series X, a digital copy of Diablo IV, and multiple digital preorder bonuses. Xbox Series X Diablo IV Bundle This bundle includes a standard Xbox Series X console, a digital copy of Diablo IV, and special in-game rewards. Where to preorder the Diablo IV Xbox Series X bundleThe Diablo IV Xbox Series X bundle will be released alongside the game on June 6, and preorders are available now at retailers like Amazon and Best Buy.

The CWA in a statement said Activision's conduct showed a clear pattern of disregard for workers' legal rights. "In spite of Activision Blizzard's anti-union efforts, workers continue to organize, speak out about their working conditions and win union campaigns," the union said. Activision has said its social media policy is lawful and does not bar employees from exercising their rights under U.S. labor law. Small groups of workers at Activision subsidiaries in New York and Wisconsin have voted to join the CWA in recent months. Boston-based employees of Activision unit Proletariat in January withdrew a petition to have an election.

☆ Activision Proposes Settlement in DOJ Lawsuit Over Esports Pay
▼ + stars: | 2023-04-04 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

The U.S. Justice Department is reviewing a proposed settlement to its antitrust lawsuit against Activision Blizzard Inc. after accusing the company of imposing rules that limited competition and suppressed wages for players in two of its videogame franchises’ professional esports leagues. The department alleged that in two of the esports leagues owned Activision, the company and the independently owned teams in each league implemented a so-called Competitive Balance Tax. The tax was structured to penalize teams in the “Overwatch” and “Call of Duty” leagues if a team’s player compensation exceeded a threshold set by Activision, the complaint alleges.

☆ Justice Department Sues Activision Over Esports Leagues
▼ + stars: | 2023-04-04 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

The U.S. Justice Department on Monday said it filed an antitrust lawsuit against Activision Blizzard Inc. alleging that the company imposed rules that limited competition for players in two of its videogame franchises’ professional esports league and suppressed wages for players in those leagues. The department said its complaint alleges that in two of the esports leagues owned by the videogame company, Activision and the independently-owned teams in each league implemented a so-called Competitive Balance Tax. The tax was structured to penalize teams in the “Overwatch” and “Call of Duty” leagues if a team’s player compensation exceeded a threshold set by Activision, the complaint alleges.

☆ Activision Deal Enters Bonus Round Phase
▼ + stars: | 2023-04-03 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Response to a beta test of Blizzard’s ‘Diablo IV’ indicated the videogame is shaping up to be a hit. For Activision Blizzard , good things are apparently worth a long wait. The videogame publisher has been under a cloud of uncertainty over the past 14 months, ever since it announced it was being acquired by Microsoft . The deal, valued at nearly $69 billion once adjusted for Activision’s net cash, has sparked lengthy regulatory reviews in the U.S. and Europe that are still ongoing. The deal also came as Activision was reeling both from internal scandals and what looked like a damaged game portfolio following a misfire with its “Call of Duty” sequel released in late 2021 and the delay of two key games from its Blizzard unit.

Industry Insight Insights in Action: Corporate law departments find their outside firms’ innovation lagging, but there may be little incentive to changeZach Warren March 24, 2023

☆ Tony Hawk turned down a $500,000 payment for 'Pro Skater,' opting for royalties instead. He ended up making at least 8 times that.
▼ + stars: | 2023-03-31 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Tony Hawk made an appearance on "The Diary of a CEO" podcast and discussed his best financial move. Ahead of the release of video game "Pro Skater," he was offered a $500,000 payment for his likeness. Activision's fiscal report from 2002 cites the video game series as "the single largest independent U.S. video game franchise for the fiscal year" and credits the game, in part, for the company's increased revenue. 2020's "Tony Hawk's Pro Skater 1+2" would go on to sell one million units faster than any other iteration of the series, per Activision. "Nowadays an entire generation of kids, have asked me if I'm named after a video game," Hawk said on "Diary of a CEO."

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