Wall Street abuzz with rumors
Insiders tend to have loose lips, and this latest leak is causing quite a stir. There are now rumors that Microsoft may be buying (or considering, at the very least) Electronic Arts.
That's right, Electronic Arts -- Command & Conquer, Burnout, Need for Speed, every sports game on the planet, crappy movie-based games, everything. Needless to say, the suits are all over this one, and EA stock went up 8.1 percent. Microsoft saw a 1.1 gain, while THQ grew a whopping 13 percent; rumors speculate THQ may be the true target of the yet-unconfirmed takeover.
Some analysts are dismissing these rumors completely.
"Our contacts just don't see Microsoft buying Electronic Arts, no synergies whatsoever, and also not Microsoft's corporate primary focus right now," commented Trip Chowdhry, an analyst at Global Equities Research.
New York's WhatsTrading.com options strategist Frederic Ruffy stated, "There's talk that Microsoft might be interested in acquiring Electronic Arts. It's unsubstantiated chatter, but it's out there."
Update: Looks like the news are just rumors after all. A Microsoft spokesperson told us the company "no plans to purchase Electronic Arts." We're currently waiting on a response from EA.
Better ?