NKE - Dow Jones News: FTC Targets Apple and Microsoft; Nike Weak After Under Armour Results
The Dow Jones Industrial Average (DJINDICES: ^DJI) was clinging to a small gain Tuesday afternoon, up 0.12% at 12:30 p.m. EST. The coronavirus outbreak that originated in China surpassed 1,000 deaths and 40,000 cases, and the global economic impact remains unclear. However, the market seems to be largely shaking off that uncertainty.
Both Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) were in the news, with the FTC announcing a review of the acquisition activity of large tech companies. Nike (NYSE: NKE) stock was also moving after competitor Under Armour (NYSE: UAA) reported lackluster results.
Big tech companies are already being probed for possible antitrust violations. On Tuesday, the Federal Trade Commission announced that it had issued special orders to five large technology companies related to acquisition activity. Apple, Microsoft, Amazon, Alphabet, and Facebook will be required to provide information about past acquisitions not reported to the antitrust agencies under the Hart-Scott-Rodino Act.