G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Trading Idea of the Day
NASDAQ:ATVI - Activision Blizzard Inc - BULLISH BIAS
- Key levels on the chart - consider taking trades from key support/resistance zones.
Microsoft's proposed buyout presents the potential for shareholders to realise its value.
Amid management scandals, Microsoft has made an offer to buy ATVI for US$95 per share.
- Activision first appeared in the Berkshire portfolio after it was purchased by one (or both) of their smaller money managers – Todd Combs & Ted Weschler.
- Berkshire’s bet on Activision is a return to the old days of “workouts” for Buffett – a simple bet on Microsoft’s deal being approved, and shareholders capturing the spread between the current market price and Microsoft’s offer of $95/share.
- I suspect Buffett (with help from his other managers) wouldn’t mind owning the underlying business should the deal fall over too, as it has a strong track record of earnings growth.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Lucid, NIO and Rivian report Q3 losses but order book strong
Podcast of the Day: Investment educator Brian Feroldi’s three principles for long-term investing
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
Global Markets Headlines
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)