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.
(Bloomberg) -- Activision Blizzard Inc. is gaining fans on Wall Street as a flurry of analysts raise their recommendations on the stock even as Microsoft Corp.’s planned acquisition looks increasingly dicey.Most Read from BloombergNext Covid-19 Strain May be More Dangerous, Lab Study ShowsApple to Lose 6 Million iPhone Pros From Tumult at China PlantThere’s a Job-Market Riddle at the Heart of the Coming RecessionAt least six firms have boosted their ratings in November, including three on Monday
BRUSSELS (Reuters) -Microsoft is likely to offer remedies to EU antitrust regulators in the coming weeks to stave off formal objections to its $69 billion bid for "Call of Duty" maker Activision Blizzard, people familiar with the matter said. The U.S. software giant and Xbox maker announced the deal in January to help it compete better with leaders Tencent and Sony. It has since then faced regulatory headwinds in the European Union, Britain and in the United States, with Sony criticising the deal and even calling for a regulatory veto.