Scholastic stock tumbles on loss, Activision share rises on Microsoft deal news and more moving stocks

Faraday Future Intelligent Electric Inc. FFIE, -6.15% stock climbed 6.8% after executives at the electric-mobility ecosystems group said that several top executives, including incoming Chief Executive Matthias Aydt, have agreed to salary reductions and stock purchase agreement.

Shares of China e-commerce group Alibaba Group Holding Limited BABA, -1.90% rose 4.2% and those of Chinese EV maker NIO Inc. NIO, -4.20% climbed 3.3% after a rally for Hong Kong’s Hang Seng Index HK:HSI, which closed up 2.2% after two days of selling that took the index to its worst level in a month this week.

Shares of Activision Blizzard Inc. ATVI, -0.23% rose nearly 2% in premarket trading after the U.K. Competition and Markets Authority said that Microsoft Corp.’s MSFT, -0.39% revised proposals to modify its Activision acquisition makes it possible for the $75 billion deal to be cleared. Under the revised deal, Activision would sell cloud gaming rights to French videogame publisher Ubisoft Entertainment SA UBI, +3.62%, whose shares rose 3.5% in Paris.

AstraZeneca PLC shares AZN, -1.38% rose 1.8% after the pharmaceutical company and partner Daiichi Sankyo Co. 4568, -0.46% said trial results for its breast cancer drug Dato-DXd were highly positive.Shares of Scholastic Corp. SCHL, -1.14% dropped 16% after the children’s book publisher late Thursday reported a worse-than-expected loss for the second quarter, pinning it on the summer’s school break and timing of some of its revenue.

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UK regulators likely to decide on Microsoft’s Activision Blizzard deal next week.The UK’s Competition and Markets Authority (CMA) is expected to issue a preliminary decision on Microsoft’s Activision Blizzard deal next week, a source familiar with the situation tells The Verge. It follows Microsoft restructuring its deal — after the CMA blocked it over cloud gaming concerns — to transfer cloud gaming rights for current and new Activision Blizzard games to Ubisoft. This preliminary decision will then be followed by a final one, due by October 18th. The UK is the final regulatory hurdle for Microsoft’s giant deal.
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These Stocks Are Moving the Most Today: Ford, Activision, VinFast, U.S. Steel, Scholastic, and MoreThe United Auto Workers union has threatened to expand its strike against the Big Three automakers on Friday, Microsoft’s acquisition of Activision...
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