U.S. Movers: Activision Blizzard, Arm Holdings, Ford Motor, McDonald's, Scholastic Corp
- Scott Peters
- U.S.A. New York City
-
The U.K. regulators approached one step closer in clearing Microsoft's purchase of Activision Blizzard. Arm Holdings and Instacart traded below their initial public offer prices.
McDonald's Corp advanced 0.7% to $273.0 after the fast food chain operator said it plans to increase its royalty fees charged to franchisee operators to 5% from 4%.
McDonald's has not increased the fee for several decades but the company also charges for store rent, digital infrastructure and other marketing services.
Ford Motor Company increased 2.5% to $12.51 after CNBC suggested that the company is making progress in negotiations with striking members of the United Auto Workers union.
Scholastic Corp dropped 14.5% to $33.28 after the publishing company reported lower-than-expected revenue and earnings in its latest quarter.
Revenue in the fiscal first quarter ending in August declined 13% to $228.5 million reflecting continuing softness in retail sales.
Net loss surged to $74.2 million from $45.5 million and diluted loss per share expanded to $2.33 from $1.33 a year ago.
Activision Blizzard Inc gained 1.9% to $93.93 after the U.K. regulators said new proposal from Microsoft met several terms required to clear the purchase of game developer for $69 billion.
Arm Holdings Plc decreased 2.6% to $50.77 and the advanced chip designer traded below its initial public offering price of $51 a share priced on September 14.
Instacart declined 2.1% to $30.03 and barely traded above its initial public offer price of $30 a share on September 19.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Arm Holdings plc | ARM | 72% | 0% | 0% |
| Ford Motor Company | F | -11% | -9% | -35% |
| McDonald`s Corporation | MCD | -10% | 7% | 3% |
| Activision Blizzard Inc | ATVI | 0% | 22% | 16% |
| Scholastic Corporation | SCHL | -17% | -1% | -5% |