Posted 10/15/2023, 6:19:00 PM
Microsoft Closes Activision Deal But Faces IRS Tax Bill; Arm and Netflix Get Analyst Rating Changes
- Microsoft closes $69 billion Activision Blizzard deal, but owes billions in potential back taxes to IRS
- Chip designer Arm Holdings receives several buy ratings from analysts after IPO, citing growth opportunities
- Netflix loses bullish 'Outperform' rating from Wolfe Research on concerns about growth forecasts and valuation
- Arm aims to increase revenue through higher royalty fees and expanding into cloud, automotive sectors
- Microsoft plans to appeal IRS claim for $28.9 billion in back taxes from 2004-2013 period
