Today is Monday, December 5, 2022.
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Microsoft-Activision Deal Hope
There’s renowned hope for the previously-announced $69 million deal for Microsoft (Nasdaq: MSFT) to acquire Activision Blizzard (Nasdaq: ATVI).
Details: A report from the New York Post on Sunday describes a rift at the Federal Trade Commission with at least one Democrat on the four-member panel who “has recently taken a sympathetic view of the merger.” This could make it more difficult for the FTC to kill the deal.
Stock Price: Shares of Microsoft are down 23% this year but Activision Blizzard’s stock is up 12%.
Final Thoughts: Either way, the outcome of the deal may not be revealed until 2023. Investors in both components are hoping that regulators stay out of the way.
Notables
Notable Earnings Today: Veru (Nasdaq: VERU), GitLab (Nasdaq: GTLB), Science Applications International (NYSE: SAIC), Sumo Logic (Nasdaq: SUMO), IceCure Medical (Nasdaq: ICCM), RGC Resources (Nasdaq: RGCO).
Notable IPOs Today: N/A.
Notable Equity Crowdfunding Campaigns Ending Today: Nwar Studios (Honeycomb), Bob’s Famous BBQ (Honeycomb), ChipBrain (Netcapital), LaLa Gardens Cooperative (Mainvest), Vantage Sports (StartEngine), Outdoor Office (StartEngine).
Notable Economic Events Today: S&P Global Composite PMI (9:45 a.m. ET), Services PMI (9:45 a.m. ET), ISM Non-Manufacturing PMI and Employment (10:00 a.m. ET), Factory Orders (10:00 a.m. ET).
Dogecoin Gets Another Musk Boost
The price of the cryptocurrency Dogecoin continued to progress higher with a 4% jump over the weekend.
What Happened: While speaking on a Twitter Space on Saturday, Dogecoin fan Elon Musk was asked if Twitter will allow crypto payments and he reportedly said “Dogecoin to the moon.”
Background: This marks the second strong weekend in a row for Dogecoin. On Thanksgiving weekend, Dogecoin had a 20% jump.
Final Thoughts: Dogecoin has its fans and critics. Some say Dogecoin is nothing more than a meme coin and wish to avoid it as long as the crypto markets are volatile. Of course, if you are bullish on the long-term prospects of Dogecoin, this past weekend served as another positive indicator that the digital coin can still grow.
Cineworld Positive About Recovery
Despite facing bankruptcy, Cineworld Group (OTCMKTS: CNWGQ) expects to emerge from it intact, according to a report on Sunday.
Details: In the report from Bloomberg, a Cineworld spokesperson said that the company is developing a Chapter 11 reorganization plan and there is no intent to sell any of its businesses.
Background: The pandemic was awful for the movie theatre industry. Some have slowly recovered, but Cineworld is still struggling.
Recent Developments: In September, Cineworld filed for bankruptcy.
Stock Price: Shares of Cineworld are down 89% this year, including a 16% decline in the last 30 days.
Final Thoughts: While Cineworld might be an enticing penny stock to some, the company has a long way to go before it can improve and be a positive stock.
Trends to Watch
Alive and Well: A European Central Bank Blog Decries the End of Bitcoin, and We Aren’t Buying It (CoinDesk)
Hope for 2023: Bonds Are Primed for a Better 2023, but How Much Better? (The Wall Street Journal)
Fingers Cross: Stock Faithful Hope for a Wild Rally Before Merciful End to 2022 (Bloomberg)
Elon is Happy: Apple and Amazon resume advertising on Twitter, reports say (Reuters)
Light at the end of the Tunnel: Is the worst over for bitcoin and the rest of crypto? (CNN)
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