ATVI Stock Forecast: Activision Blizzard dips lower ahead of Microsoft earnings call

Stocks Reporter FXStreet

NASDAQ: ATVI fell by 1.70% during Monday’s trading session.
Activision Blizzard could see its games thrust into the mainstream spotlight.
Microsoft is set to release its FY2022 Q2 earnings on Tuesday after the close.

NASDAQ: ATVI was unable to carry the momentum over from its acquisition by Microsoft (NASDAQ: MSFT) last week. On Monday, shares of ATVI fell by 1.70% and closed the trading session at $79.97. Volatility was the name of the game on Monday as the markets opened the day deep in the red. The Dow Jones was down by over 1,100 basis points while the NASDAQ looked to be heading even further into correction territory as the tech-heavy index was down by 4.9%. Miraculously, all three major indices closed the session in the green marking one of the more dramatic single-day swings in recent history.

Stay up to speed with hot stocks' news!

With Microsoft taking over Activision Blizzard’s gaming library and eSports division, the gaming industry could be in for a lot of Halo and Call of Duty. While these titles certainly dominate sales charts already, with Microsoft taking over franchises like Diablo, Overwatch, Call of Duty, and World of Warcraft, we could see some of these titles move to Xbox exclusives in the future. They could also begin to dominate the eSports world, which would shift a large part of the fanfare towards Microsoft titles. The sell off in Sony’s stock could be an overreaction, but there is no doubt that Microsoft now owns some of the marquee franchises in the global gaming market.

Activision stock news

On Tuesday, Microsoft will kick off the big tech earnings season by reporting its second quarter 2022 FY earnings after the closing bell. While earnings and revenue are expected to jump on a year over year basis, Wall Street will be taking particular interest in the tech giant’s figures for its gaming revenues. Given its recent acquisition of Activision Blizzard which isn’t expected to officially close until 2023 FY, this could be one of the last quarters to make backwards looking comparisons too after the deal is completed

Like this article? Help us with some feedback by answering this survey:

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.