Tuesday’s Headlines: Microsoft Eyes Discord For $10 Billion

Tuesday’s Headlines: Microsoft Eyes Discord For $10 Billion

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Smartsheet (SMAR) +6.5%

iRobot (IRBT) +3.9%

2U (TWOU) +3.9%

Bill.com (BILL) +3.8%

Coupa Software (COUP) +3.7%

Moving Down ⬇️

Tripadvisor (TRIP) -10.5%

Axos Financial (AX) -6.1%

Silicon Valley Bank (SIVB) -6.0%

Nordstrom (JWN) -5.8%

Chuy's (CHUY) -5.3%

1. According to reports, Microsoft (MSFT) is in discussions to acquire Discord for over $10 billion. The chat platform connects game studios and publishers with their communities and is hugely popular with gamers, as evidenced in its 800,000 downloads per day and 140 million monthly active users in 2020. Discord, along with other gaming platforms, has benefited greatly from pandemic-driven usage, with more gamers forced to stay at home than ever. As Xbox has been a hit for Microsoft, the acquisition of Discord could further boost the tech giants gaming business. Check out the full story here

2. U.S. stock futures were slightly lower in early morning trading today after all three major averages posted gains yesterday. On Monday, the Dow Jones Industrial Average (DIA) gained 0.32%, while the S&P 500 (VOO) broke a two-day losing streak and advanced 0.7%, but the tech-heavy Nasdaq (QQQ) was the outperformer, jumping 1.23%. A recovery in tech stocks is slowly gaining speed as Tesla (TSLA) led the rally yesterday, surging as much as 6.8% during trading after a big price-target hike from ARK Invest before shedding some of its gains. Apple (AAPL) also rose 2.8% yesterday, while Microsoft moved up 2.5%. See more here

3. As we try to make sense of NFT's, CEO of Twitter (TWTR) Jack Dorsey has already sold his first ever tweet as one. Dorsey listed the tweet for sale as a non-fungible token (NFT) and it was bought by Sina Estavi, CEO of Bridge Oracle, for 1,630.58 ether, which is about $2.9 million based on the cryptocurrencies price at the time of sale. The ownership of the tweet, which reads “just setting up my twttr,” will be recorded on a blockchain — a digital ledger similar to those that underpin cryptocurrencies. Dorsey stated that proceeds will be converted to Bitcoin and then donated to the ‘Give Directly’s Africa Response’ fund. Read more here.