Activision Blizzard Inc.
Microsoft ’s decision to buy Activision Blizzard powered up videogame stocks. After Tuesday’s announcement of Microsoft Inc.’s $75 billion acquisition of Activision Blizzard Inc., shares of Electronic Arts Inc., Ubisoft Entertainment SA and Nintendo Co. jumped on the prospect of more deals as investors place bets on the rapidly consolidating industry. Deal-making among videogame companies has surged in recent years as gaming has become more popular on mobile devices. Activision soared 26% Tuesday.