Diamonds and Dogs

8/26/22

Electronic Arts (EA) jumps on unconfirmed rumors. EA is up 4% after the USA Today reported that Amazon would make an announcement buy the company responsible for games such as Madden, Battlefield, FIFA, and more. In January, Microsoft announced that it had agreed to buy Activision Blizzard, a video game company responsible for games such as Call of Duty and Guitar Hero, in an all-cash deal valued at nearly $69 billion. That deal could be in its final stages now. One analyst believes EA could get bought out at a price between $155 and $188 a share.

Dell (DELL) lower following earnings. Dell is down 4% even though the company beat estimates as sales rose 9.2% to $26.43 billion. The company however cautions investors that business and consumer demand would clip near-term sales as the company continues to deal with supply chain disruptions and run-away inflation curbing PC demand.

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