Here are the companies the Yahoo Finance team is watching today.
A $900 million deal for Morgan Stanley. It’s buying Canada’s Solium Capital for cash. The deal gives Morgan Stanley control of that cloud service, which handles employee stock options and equity administration. It currently has more than 3,000 clients, and more than 1-million employee participants.
Sprint is taking on one of its key rivals over the future of 5G E. It’s suing AT&T claiming that the company’s 5G ads are false and misleading and doing irreparable harm. Sprint says the network is just 4G with a new logo. AT&T says it will fight the lawsuit and continue to deploy what it calls 5G evolution.
Activision Blizzard has hit a rough patch. Bloomberg says the video game company is planning to lay off hundreds of workers tomorrow. The layoffs would be part of a major overhaul as the company faces slowing game sales and increased competition. This comes days after Activision Blizzard’s stock fell 10%.
More cuts are reportedly hitting Tesla. Reuters says some 150 workers were let go at the Las Vegas facility that handles deliveries for Model 3s. That could be a sign Tesla expects deliveries in North America to slow dramatically in the coming months. CEO Elon Musk has said the company is focusing on Europe and Asia this quarter.
Coca-Cola is out with its first new flavor in more than a decade: Orange Vanilla! Starting on February 25, the flavor will be available as Orange Vanilla Coke and Orange Vanilla Coke Zero Sugar. The soft drink will come in 12-ounce cans and 20-ounce bottles. Coke said they wanted to bring back memories of carefree summer days.