Judge says Microsoft-Activision deal can proceed, Activision Blizzard stock soars 11%

News Snapshot:

Microsoft's (MSFT) $69 billion acquisition of "Call of Duty" maker Activision Blizzard (ATVI) got a major boost on Tuesday. A federal court declined to grant the Federal Trade Commission a temporary restraining order that would have kept Microsoft from closing the transaction on July 18. However, the deal still faces an FTC antitrust lawsuit, which alleges that the purchase would harm competition in the gaming space. But by winning in federal court, Microsoft finds itself one step closer to completing the tie-up. Shares of Activision Blizzard jumped 11% on the news. Shares of Microsoft were flat. “We are disappointed in...