Microsoft Closes Activision Deal Despite Regulatory Pushback; Netflix and Arm See Analyst Rating Shifts After Major Events

Microsoft closes $69 billion Activision Blizzard deal after overcoming regulatory hurdles, though FTC continues to oppose it. IRS says Microsoft owes $28.9 billion in back taxes.

Chip designer Arm Holdings earns slew of bullish ratings from analysts following its IPO, citing growth opportunities in smartphones and new markets.

Netflix loses bullish rating from Wolfe Research on concerns that growth forecasts are too optimistic. Stock drops nearly 7%.

Microsoft says it will appeal IRS claim for $28.9 billion in back taxes plus penalties and interest from 2004-2013.

Arm shares lose 6% for the week but analysts initiate coverage with buy ratings and $60-$70 price targets, citing growth prospects.