GameStop Surges After Forming Strategic Accord With Microsoft

GameStop Corp. jumped as much as 27% after a strategic partnership with Microsoft Corp. gave investors fresh optimism that the video-game retailer can turn around its business.

Under a multiyear agreement, GameStop will use Microsoft’s cloud services to handle business operations, including finance, inventory and e-commerce, according to a statement Thursday. In-store workers also will use Microsoft Surface devices while they’re helping customers. And GameStop will offer Xbox All Access, a monthly service for the Xbox gaming console.