Activision Blizzard falls on news that FTC could block Microsoft takeover
Activision Blizzard shares shed 3.7% before the bell Friday on news that Microsoft’s roughly $69 billion takeover of the company faces potential antitrust scrutiny.
Politico reported earlier this week that the Federal Trade Commission will likely file a lawsuit blocking the acquisition, citing people familiar with the matter.
— Samantha Subin
European markets slightly lower to close out winning week on dovish Fed bets
European markets were muted on Friday to close out an otherwise upbeat week, as the U.S. Federal Reserve’s latest meeting minutes added to expectations that monetary policy tightening may slow down.
The pan-European Stoxx 600 slipped 0.2% below the flatline in early trade, with basic resources and retail shedding 0.7% as most sectors and major bourses traded in mildly negative territory.
– Elliot Smith
CNBC Pro: UBS says recession in 2023 will be an inch deep but a mile wide — and that’s not priced into stocks
Global economic conditions will shift next year and that’s going to flip which markets and sectors underperform, according to the chief strategist of UBS Investment Bank.
“It’s an inch deep but it’s a mile wide,” he said of the expected recession. “Global growth is at 2% and that is not priced into stocks,” Bhanu Baweja told CNBC’s “Squawk Box Europe” Wednesday.
He also named which sectors he expects to outperform next year.
CNBC Pro subscribers can read more here.
— Jenni Reid
CNBC Pro: Outperforming asset manager picks the stocks set to win as margins get squeezed
Patrick Armstrong, chief investment officer at Plurimi Wealth, believes margin squeeze is the ‘biggest risk’ for equities. But he thinks some stocks could beat the trend.
“Own sectors with defendable margins or that are creating margin squeeze elsewhere,” he added, naming the sectors and stocks he likes best.
Pro subscribers can read more here.
— Zavier Ong