Fiscal stimulus prospects and strong earnings tailwind may propel stocks in the week ahead CNBC 2/5/2021 Patti Domm
Stocks have plenty to focus on in the week ahead, but most important is the fiscal stimulus package making its way through Congress.
Interest rates have begun to rise again, and for now that is seen as a positive statement on the economy.
As for the stock market, I think the path of least resistance has resumed to a higher level. I think we had a mini correction a week ago and I think it happened pretty quickly, said one strategist.
Cornerstone Macro s Carter Worth charts the Treasury yield and what it could mean for the record rally
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EA moves closer to $1.2 billion Codemasters purchase Engadget 2/4/2021 A screenshot from Dirt 5
EA has edged closer to buying Codemasters after shareholders of the latter approved the takeover. Out of 76 shareholders, 63 approved EA s $1.2 billion bid. Those who voted for the deal hold just under 99 percent of the total Codemasters stock.
Competition regulators in Germany and Austria have rubber stamped the acquisition and a court hearing will take place on February 16th. Barring any problems, EA should close the deal by the end of the spring. Codemasters will then be part of a new subsidiary called Codex Games.
For a while, it seemed that Take-Two Interactive would be Codemasters destination. The Grand Theft Auto publisher made a bid of almost $1 billion in November, but EA swooped in with a higher offer the following month.
A recent vote that took place among Codemasters shareholders has resulted in overwhelming approval for a deal in which Electronic Arts would fully take over the studio. Codemasters’ ownership has been in limbo between multiple major gaming companies for some time, but it would appear that the recent vote will allow EA to move forward with the acquisition of Codemasters.
Codemasters held a remote vote fairly recently, approving the takeover, as reported by Video Games Chronicle. Of the 76 shareholders who voted, 63 cast their vote in approval of the acquisition, representing approximately 99% of the shares for the studio. With the vote, Electronic Arts and Codemasters can now move forward with the deal, which is now set for a February 16, 2021 court date for legal sanctioning. Following the court hearing, Codemasters shares will be suspended and then canceled from trade on the London Stock Exchange in the days following. Valued at an estimated $1.2 billion, the Codemasters acquisit