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Why Activision Blizzard Stock Bounced Back Today

Why Activision Blizzard Stock Bounced Back Today

Shares of video games maker Activision Blizzard (NASDAQ: ATVI) fell more than 4% on Friday in response to news that the Federal Trade Commission (FTC) may be preparing to file suit to block Activision's acquisition by Microsoft (NASDAQ: MSFT) in the next few weeks. Tic-tac-toe, three in a row, Wall Street analysts JP Morgan, Morgan Stanley, and Wells Fargo unanimously assigned $95 price targets to Activision stock this morning -- not coincidentally, the precise dollar value of the all-cash bid that Microsoft made for Activision in January.