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Microsoft Corp.'s Xbox plans to eliminate 3,200 jobs, or around 20% of its staff over the next year, as part of a massive reorganization to spur growth in the struggling gaming division. Xbox will also divest four of its video-game development studios and is beginning the process to part ways with a fifth. "Our business today is not healthy," Chief Executive Officer Asha Sharma wrote in a note to staff Monday morning, adding that Xbox is operating at margins three to 10 times lower than comparable businesses. "We must reset Xbox." Brody Ford, Bloomberg Technology Reporter, joined Bloomberg's Paul Sweeney and Scarlet Fu to talk about Microsoft's XBox layoffs.

A rally in several technology powerhouses lifted stocks amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run.  The advance halted a two-day rout in chipmakers, with traders betting the industry's investment boom will continue to support solid earnings. Shana Sissel, founder and CEO at Banríon Capital Management, joined Bloomberg's Paul Sweeney and Scarlet Fu to discuss her outlook for tech stocks.

SK Hynix kicked off the formal marketing process for its US listing on Monday, as the South Korean chipmaker looks to capitalize on surging investor demand for the high-flying memory-chip sector. Bailey Lipschultz, Bloomberg News Senior Equities Reporter, joined Bloomberg's Paul Sweeney to highlight the formal marketing process for SK Hynix and its US listing.

Microsoft (NASDAQ:MSFT) cut approximately 4,800 roles, or about 2.1% of its global workforce, as the company restructures operations in response to rapid changes in technology and customer demand.

The summer box office is heating up, and more momentum could be on the way. Daniel Loria, Senior Vice President at The Boxoffice Company, says two major July releases -- Universal's The Odyssey and Sony's Spider-Man: Brand New Day -- could keep audiences coming to theaters. He joined Bloomberg TV with his outlook.

Wall Street is making a bigger bet on sports. William Blair's acquisition of Inner Circle Sports underscores why investors see enormous opportunity in pro teams, women's sports and college athletics. Inner Circle Sports Founder Rob Tillis and William Blair's Global Head of Investment Banking Matt Zimmer join Open Interest to explain what's driving soaring franchise values and why they believe the industry's biggest growth is still ahead.

A stunning red-card reversal has sparked a global soccer controversy after President Trump weighed in on Folarin Balogun's suspension. Bloomberg's Randall Williams joins the show to talk about whether the decision was fair, if slow-motion review distorts intent, and why the ruling could create a dangerous precedent for the World Cup.

Novartis (NYSE:NVS) has agreed to acquire Myricx Bio, a U.K.-based biotechnology company, in a transaction valued at up to $1.5 billion.

Skillsoft (NYSE:SKIL) announced it completed the sale of its Global Knowledge training business to an affiliate of Enduring Ventures to create a simplified product portfolio.

On this episode of Stock Movers: - Korean-listed shares of SK Hynix (000660 KS) declined after the chipmaker kicked off the formal marketing process for its US listing on Friday. The company is seeking to sell American depositary receipts representing about 17.79 million common shares. - Shares of Broadcom (AVGO) moved lower ahead of the US market open after the company said that it will provide custom chips for Apple Inc. (AAPL) in an expanded deal that runs through 2031. The companies have signed a new multi-year agreement, through which Broadcom will develop custom ASIC chips. - Shares of Honeywell spinoff Solstice Advanced Materials (SOL) and Element Solutions (ESI) rose in premarket trading after the Financial Times reported that the firms are in talks to merge, citing people familiar with the matter. Discussions between the two companies over a merger are ongoing; a deal could come together as soon as this week.

A rebound in chipmakers lifted stocks as dip buyers emerged amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run. Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, discusses AI influence on the broader market and stronger earnings driving stock upside.

President Donald Trump says he ask FIFA chief Gianni Infantino to review the red card given to US soccer star Folarin Balogun. Trump says the striker did not commit a foul against Bosnia and Herzegovina. "All I did, I asked for a review, because I didn't think it was a foul. And, you know, again, I'm good at this stuff. I didn't think it was a foul. I thought it was two great athletes that crashed into each other and got entangled," Trump told reporters Monday in the Oval Office. FIFA overturned the suspension of Balogun, who is now allowed to play in the Monday night match against Belgium. (Corrects spelling of Folarin)