Chinese online video game service NetEase (NTES) announced Tuesday that it has renewed its deal to distribute games from Blizzard Entertainment in mainland China until January 2020. Blizzard, a division of Activision Blizzard (ATVI), makes such popular games as "World of Warcraft," "Overwatch" and "StarCraft."
The relationship between Blizzard and NetEase is entering its ninth year.
"Our partnership with Blizzard has been great these past eight years, and we are very pleased to continue our close collaboration," NetEase CEO William Ding said in a statement. "We both pride ourselves with a commitment to high quality and value for our players, and that has served as a foundation for our strong alliance and positions us well for continued success."
IBD'S TAKE: NetEase has a best-possible IBD Composite Rating of 99. NetEase also ranks No. 1 on the IBD 50 list of top-performing stocks. Activision also is on the IBD 50.
NetEase stock rose 1.2% to 244.15 on the stock market today. NetEase hit an all-time high of 254.48 on Sept. 22.
Activision stock climbed 0.5% to 44.21 on Tuesday. Activision matched its all-time high of 45.12 on Sept. 23.
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