FTC Sues to Block Microsoft's Activision Blizzard Acquisition: Time to Sell the Stocks?

The Federal Trade Commission (FTC) announced Thursday that it would be suing to block Microsoft's (NASDAQ: MSFT) acquisition of video game publisher Activision Blizzard (NASDAQ: ATVI). In the complaint it filed today, the regulatory body alleged the deal would allow Microsoft to suppress competition to its gaming platforms and services. Despite the FTC's challenge to the pending acquisition, Microsoft stock still ended the day up roughly 1.2% thanks to gains for the broader market that helped lift technology stocks.