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Wall Street Today | Berkshire bought $1b Activision shares before Microsoft deal

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Moomoo Recap US wrote a column · Feb 14, 2022 17:59
Wall Street Today | Berkshire bought $1b Activision shares before Microsoft deal
Rising yields, dollar climb shadow Asia stock open
Asian stocks look set for a cautious start Tuesday after U.S. shares struggled and Treasury yields jumped as traders parsed geopolitical risks and concerns about Federal Reserve policy tightening.
Futures for Japan were steady while those for Australia and Hong Kong fell. The $S&P 500 Index(.SPX.US)$notched a third straight drop after a few rebound attempts, while the technology-heavy $NASDAQ 100 Index(.NDX.US)$ closed with a small gain.
WTI crude hits $95 a barrel for the first time since 2014
U.S. benchmark crude West Texas Intermediate touched $95 a barrel for the first time since 2014 as underlying market fundamentals remain robust amid ongoing tensions between Russia and Ukraine.
Nationals of foreign countries, including the U.S. and the UK, have been advised to leave Ukraine as Russia amasses troops along the border. The U.S. has said it will push for a collective response to any incursion into Ukraine. Russia has repeatedly said it has no intention of invading Ukraine.
SPAC mergers are falling apart at a rapid pace
At least six mergers with special-purpose acquisition companies have been canceled this year, on pace for a record number of nixed deals in a single quarter. At least 22 have been spiked since the middle of 2021, according to data compiled by Chicago-based SPAC Research, which tracks the industry. That compares with 26 tie-ups that were called off in the more than five years prior, the data show.
Crypto millions on Super Bowl ads didn't drive App downloads
$Coinbase(COIN.US)$, FTX Trading and Crypto.com all released advertisements during the National Football League's championship game between the Los Angeles Rams and Cincinnati Bengals on Sunday. Yet data shows a decline in U.S. app store downloads over the week prior to Sunday.
ETF launches are already on track to top last year's record pace
Issuance of new exchange-traded funds are piling up this year and threatening to overtake 2021's historic boom as firms bet big on continued growth.
According to Bloomberg data, 50 new funds have launched in 2022, compared with 38 at this point last year. There's also been an uptick in the total number of actively managed strategies this year to 33 from 27, reflecting the growing preference for ETFs over mutual funds.
Buffett's Berkshire bought about $1 billion worth of Activision shares before Microsoft deal
Warren Buffett's $Berkshire Hathaway-A(BRK.A.US)$ jumped into $Activision Blizzard(ATVI.US)$ after a state lawsuit alleging a sexist culture at the game publisher sent the stock price down. Microsoft announced its intent to buy Activision Blizzard in mid-January for $68.7 billion.
Buffett is poised to notch a handsome profit if the acquisition closes.
Moderna, Pfizer stocks fall as Covid omicron wave subsides in U.S.
$Moderna(MRNA.US)$ plunged more than 11%, the biggest decline in the S&P 500 Monday. $Pfizer(PFE.US)$ tumbled nearly 2% and its partner $BioNTech(BNTX.US)$ slid more than 9%.
White House chief medical advisor Dr. Anthony Fauci told The Financial Times last week that the U.S. is exiting the "full-blown pandemic phase of Covid-19."
Intel nears roughly $6 billion deal to buy Tower Semiconductor

$Intel(INTC.US)$ is close to a deal to buy Israeli chip company $Tower Semiconductor(TSEM.US)$ for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.

The deal would likely include a hefty premium, given Tower's market value of roughly $3.6 billion. The shares soared 49% in after-hours trading on Monday after The Wall Street Journal reported on the expected deal.

Source: Bloomberg, CNBC, WSJ
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