Microsoft and tech peers outperform as Treasury yields fall

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Microsoft and tech peers outperform as Treasury yields fall
Credit: © Reuters.

Stocks such as Microsoft (NASDAQ: MSFT ), Adobe (NASDAQ: ADBE ), S&P Global (NYSE:SPGI), Blackstone (NYSE: BX ), and Prologis (NYSE: PLD ) have outperformed the MSCI USA index as the 10-year Treasury yield continues to drop. In the world of mergers and acquisitions, Vista Outdoor (NYSE: VSTO )'s market value saw a post-market increase following a merger proposal from Colt CZ Group, accompanied by a buyback strategy. In the sports betting sector, ahead of Thanksgiving, apps like Penn Entertainment's ESPN Bet topped download charts, with Flutter Entertainment (LON: FLTRF )'s FanDuel and DraftKings (NASDAQ: DKNG ) also seeing increased activity.

In corporate movements, OpenAI announced a significant AI innovation named Q* alongside news of CEO Sam Altman stepping down. Meanwhile, Howard Hughes (NYSE: HHH ) Holdings experienced a surge in its share price after Pershing Square (NYSE: SQ ) Capital Management made a substantial $12.7 million purchase. Conversely, PayPal (NASDAQ: PYPL ) Holdings' executive Jonathan Auerbach sold shares, continuing a trend of insider selling at the company over recent months.

In resource sector news, Morien Resources Corp. has paused dividend payments due to regulatory issues impacting operations at its Donkin Mine, which in turn affects its revenue. On the regulatory front, tech giants Google (NASDAQ: GOOGL ) and Meta (NASDAQ: META ) are adjusting to new EU rules aimed at curbing online child exploitation while maintaining encryption standards. Amazon (NASDAQ: AMZN ) is also navigating the regulatory landscape, set to receive unconditional EU approval for its acquisition of iRobot (NASDAQ: IRBT ).

Lastly, Safety Shot has revealed plans that will enable current shareholders to resell their stock.

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