ATVI - Why Microsoft Rallied Today
2023-07-12 14:21:43 ET
Shares of Microsoft (NASDAQ: MSFT) rose by as much as 2.8% Wednesday morning before settling into a 1.6% gain as of 1:35 p.m. ET.
Microsoft investors have gotten no less than least three pieces of good news over the past two days. First, the company's pending acquisition of Activision Blizzard (NASDAQ: ATVI) , thought to be in danger of being blocked, was given new life Tuesday, thanks to a judge's favorable ruling.
Amid all the news over the Activision bid, an announcement of new cybersecurity products Tuesday might have gotten lost in the shuffle. But it likely increased investor optimism over Microsoft's prospects in this high-growth market.
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Why Microsoft Rallied Today