Market Movers

  • UK blocks Microsoft’s $69 billion Activision deal. The Competition and Markets Authority’s ruling said Microsoft had failed to convince it that undertakings it 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 gaming industry* and has been reviewing it for months.
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  • Microsoft sales top estimates on strong cloud demand. Microsoft surpassed expectations on the top and bottom lines and beat estimates on quarterly revenue guidance. Growth from Azure and other cloud services slowed to 27% from 31% in the prior quarter but was still faster than expected. Microsoft says A.I. will drive revenue growth along with cloud demand.

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