Warren Buffet’s Berkshire Hathaway cuts Activision Blizzard stake

Warren Buffett’s Berkshire Hathaway Inc.
BRK.B,
+0.93%

BRK.A,
+1.18%
has cut its stake in videogame publisher Activision Blizzard Inc.
ATVI,
+3.49%
to 1.9%, according to a securities filing late Monday. Berkshire was Activision’s No. 2 institutional shareholder previously, with a 6.3% stake bested only by Vanguard Group Inc.’s 7% stake at the time. The action came as a federal judge last week ruled against the Federal Trade Commission’s lawsuit to block the merger between Activision and Microsoft Corp.
MSFT,
+0.14%.
The courts on Friday also denied the FTC’s appeal. Shares of Activision and Microsoft were down 0.6% and 0.1%, respectively, in the aftermarket Monday, after ending the regular trading day up 3.5% and 0.1%. Activision shares jumped 9% in the last week.