: Activision’s stock surges toward a 2-year high, after Microsoft agreement with Sony’s PlayStation

Shares of Activision Blizzard Inc. ATVI surged 3.5% in afternoon trading Monday, putting them on track to close at a two-year high, in the wake of Microsoft Corp.’s MSFTannouncement over the weekend that the videogame maker’s “Call of Duty” game will remain available on Sony Corp.’s SONYJP:6758 PlayStation gaming platform after Microsoft’s acquisition of Activision closes. Microsoft’s stock was little changed, while Sony’s U.S.-listed shares climbed 1.5%. The rally extends the 9.3% rally the stock enjoyed last week, the best weekly performance in three years, after a court ruling that denied the Federal Trade Commission’s injunction to block the deal for antitrust concerns, which included concerns that Microsoft would keep Activision’s most popular games exclusive to Microsoft’s Xbox gaming platform. Activision’s stock, which was headed for the highest close since July 13, 2021, has hiked up 21.8% year to date, while the S&P 500 SPX has advanced 17.8%.

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