G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets Invest platform and follow us on Twitter:
Azeem Sheriff - @Azeem__Sheriff
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA
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
ASX Key Events Calendar (TODAY)
Economic Key Events (TODAY)
Economic Key Events (YESTERDAY)
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
Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
Market Snapshot & Highlights as of 8:00am AEDT
EXPECTATIONS: Energy HIGHER (higher oil prices) & Materials HIGHER on overall higher commodity prices.
Global Markets Headlines
Donetsk battles are ‘hell,’ Ukraine’s Zelenskyy says as Kherson mops up (CNBC)
Twitter cuts a large number of contract workers without giving internal teams a heads up (CNBC)
FTX says it’s removing trading and withdrawals, moving assets to a cold wallet after $477 million suspected hack (CNBC)
Disney plans targeted hiring freeze, job cuts and other cost reductions (CNBC)
UK must raise taxes and cut spending, Hunt says ahead of budget (CNBC)
Bankrupt Crypto Exchange FTX Probing Unauthorized Transactions (WSJ)
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)