Trending tickers: Microsoft | JP Morgan | BAT | Blackrock
The latest investor updates on the stocks that are trending on Friday
Microsoft (MSFT)
Microsoft's revised offer to buy gaming company Activision Blizzard (ATVI) was cleared by UK regulators on Friday after a prolonged back and forth about the particularities of the deal.
The Competition and Markets Authority (CMA) had blocked the $69bn (£56.5bn) offer in April. It now says that the updated bid addressed its concerns.
As part of the compromise, Microsoft will give the rights to distribute Activision's games on consoles and PCs over the cloud to French video game publisher Ubisoft (UBI.PA).
Despite clearing the deal, the CMA scolded Microsoft on how it had handled the affair.
"Businesses and their advisors should be in no doubt that the tactics employed by Microsoft are no way to engage with the CMA," the regulator's chief executive Sarah Cardell said.
Read more: LIVE: FTSE and European markets mixed as Microsoft gaming deal cleared
"Microsoft had the chance to restructure during our initial investigation but instead continued to insist on a package of measures that we told them simply wouldn't work," she added. "Dragging out proceedings in this way only wastes time and money."
The news doesn't appear to have materially moved the share price in premarket.
British American Tobacco (BATS.L)
Regulators in the US blocked the sale of six flavours of British American Tobacco's (BAT) vape brand Vuse Alto on Thursday, including its menthol flavour which is a key driver of sales.
Bans have also been issued on its three mixed berry-flavoured e-cigarette products.
"RJ Reynolds Vapor company intends to challenge denials and will seek a stay of enforcement of menthol denial immediately," BAT said.
Read more: Stocks that are trending today
The stock was trading 2.7% lower by mid-morning in London.
The reason the US Food and Drug Administration (FDA) gave for the ban was that RJ Reynolds failed to prove that menthol- and mixed berry-flavoured products offered an added benefit for adult cigarette smokers compared to tobacco-flavoured products that is sufficient to outweigh the known risks to youth.
JPMorgan (JPM)
Banking giant JPMorgan's stock was lower in premarket trade on Friday ahead of a fresh set of financial results.
Banks are in the spotlight at the moment as they grapple with a high interest rate environment. The London Stock Exchange Group expects earnings per share to hit $3.96 for the third quarter, with revenue up to $39.65bn.
Amid the macro turmoil, banks including JPMorgan have set aside more funds for anticipated loan losses.
Shares of JPMorgan have climbed 8.7% year to date.
Blackrock (BLK)
Blackrock's stock was flat in premarket trade this morning, ahead of its third quarter earnings release later on today.
Analysts estimate that the report will come in at $8.47 earnings per share (EPS). Last quarter the company beat EPS by $0.82.
Blackrock shares fell 1% yesterday following the US's consumer price inflation report.
Watch: Call of Duty maker Activision Blizzard to be bought by Microsoft as UK regulator gives green light
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