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Activision, Amazon, WD-40, Affirm, Shutterstock and more movers




Stocks traded higher on Tuesday as Wall Street braced for US inflation data that is likely to underpin the Federal Reserve’s interest rate decision later this month.

Activision Blizzard (ticker: ATIV ) gained 11% after a federal judge denied the Federal Trade Commission’s injunction to block Microsoft’s $69 billion deal to buy the video game maker. Activision shares were on pace for their biggest percentage gain since January 2022, rising 26%, according to Dow Jones Market Data. Microsoft (MSFT) fell 0.3 percent.

Amazon.com ( AMZN ) was up 1.4% on Prime Day, the online retailer’s shopping extravaganza. Amazon stock historically outperforms after the end of Prime Day events, according to Dow Jones Market Data. Last year, members bought more than 300 million items worldwide during the sales event, a record for Amazon. Wells Fargo analyst Ken Gawrelski, meanwhile, added Amazon shares to his firm̵[ads1]7;s list of “signature picks.”

WD-40 ( WDFC ), the maker of cleaning products and lubricants, reported third-quarter earnings and sales that rose from a year earlier and beat analysts’ expectations. The company also reiterated its guidance for the financial year. The share rose 19 percent.

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Affirm Holdings ( AFRM ) rose 11% to $16.40 after the buy-now-pay-later company received a price increase to $20 from $17 at Mizuho
.

Shutterstock ( SSTK ) gained 10% after the photo archive company expanded its partnership with Open AI, signing a new six-year deal “to strengthen its position as a leading provider of high-quality training data for OpenAI models.”

Iovance Biotherapeutics ( IOVA ) fell 10% after the company, a developer of new cancer immunotherapies, said it plans a $150 million underwritten public offering of common stock.

Newell Brands

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( NWL ) rose 9.7% after the marker for Sharpie pens and Rubbermaid products was initiated at Buy at Canaccord.

Etsy ( ETSY ) rose 9.6%, putting the online marketplace for crafts and other goods on pace for its biggest percentage gain since November 2022, when it rose 16%, according to Dow Jones Market Data. JMP Securities maintained its Market Outperform rating on the stock.

Zillow Group (Z) was raised to overweight from neutral by Piper Sandler and the price target on shares of the real estate company was raised to $62 from $42. Zillow gained 8.5% to $51.99.

Write to Joe Woelfel at joseph.woelfel@barrons.com



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