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Activision Moving Higher On Facebook Partnership Rumor

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Activision Blizzard, Inc. (NASDAQ: ATVI), which is best known for developing and publishing the "Call of Duty" series, among many other hit franchises, saw its stock trade higher by more than 3 percent on no new news releases.

Market participants were buying Activision Blizzard's stock following unconfirmed market chatter that the company is teaming up with Facebook Inc (NASDAQ: FB) to develop video games for its recently released Oculus Rift headset device.

Meanwhile, analysts at Hilliard Lyons downgraded Activision Blizzard's stock rating to a long-term Buy from Buy with a $40 price target.

 

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