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Shares of Microsoft Corp. surged 1.5% toward a second-straight record high, in the wake the software giant's better-than-expected fiscal fourth-quarter results. The stock's rally has lifted Microsoft's market capitalization to $828.3 billion to close in on Alphabet Inc. , which is the third-largest U.S. company by market cap, at $835.5 billion. Microsoft is still well behind second-place Amazon.com Inc. at $874.6 billion and first-place Apple Inc. at $935.2 billion. Microsoft's stock rose 1.8% on Friday after results were reported late Thursday. It has run up 26% year to date, while the Nasdaq Composite has rallied 13% and the Dow Jones Industrial Average has gained 1.2%.
Microsoft stock price target raised to $123 from $110 at KeyBanc Capital
Microsoft stock price target raised to $115 from $110 at J.P. Morgan
Microsoft Corp. shares jumped to a 4% gain in after-hours trading Thursday after the tech giant supplied its forecast for the first quarter of the 2019 fiscal year. Shares had been up 1% after the company's fiscal fourth-quarter earnings report showed stronger-than-expected profit and sales. Microsoft provided revenue guidance for its different segments on the conference call, predicting $9.25 billion to $9.45 billion for "Productivity and Business Processes"; $8.15 billion to $8.35 billion for "Intelligent Cloud"; and $9.95 billion to $10.25 billion in "More Personal Computing." In total, that suggests first-quarter revenue of $27.35 billion to $28.05 billion. Analysts on average were projecting revenue of $27.4 billion, according to FactSet. Microsoft did not give an earnings projection nor a full-year forecast, though Chief Financial Officer Amy Hood said cost of goods sold in the first quarter was expected to be $9.5 billion to $9.7 billion, operating expenses would be $9.2 billion to $9.3 billion, and income and expense is expected to be about $100 million to the negative side.
Microsoft Corp. shares fluctuated between slight gains and losses in the extended session Thursday after the tech giant's quarterly results topped Wall Street estimates. Microsoft shares were last up 0.3% after hours, following a 0.7% decline to close the regular session at $104.40. The company reported fiscal fourth-quarter net income of $8.87 billion, or $1.14 a share, compared with $8.07 billion, or $1.03 a share, in the year-ago period. Adjusted earnings were $1.13 a share. Revenue rose to $30.09 billion from $25.61 billion in the year-ago period. Analysts surveyed by FactSet had estimated $1.08 a share on revenue of $29.21 billion.At the close Thursday, shares of Microsoft were up 22% for the year, compared with a 4.9% gain in the S&P 500 index and a 1.4% advance in the Dow Jones Industrial Average .
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Among the companies with shares expected to trade actively in Tuesday's session are Goldman Sachs, Netflix, Amazon.com, Johnson & Johnson and UnitedHealth.
Shares of Amazon (AMZN) surged 1.5% during regular trading hours Tuesday just two days before the e-commerce firm is set to report its second-quarter financial results. The question is should investors buy AMZN stock ahead of its Q2 earnings release?
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Microsoft Corp. engages in the provision of developing and marketing software and hardware services. Its products include operating systems for computing devices, servers, phones and intelligent devices. It also offers server applications for distributed computing environments, productivity applications, business solution applications, desktop and server management tools, software development tools, video games, and online advertising. It operates through the following segments: Productivity and Business Processes; Intelligent Cloud; and More Personal Computing. The Productivity and Business Processes segment consists of products and cloud services in portfolio of productivity, communication, and information services. It comprises of office commercial, office consumer, and microsoft dynamics business solutions. The Intelligent Cloud segment offers hybrid server products and cloud services. It comprises of server products and cloud services and enterprise services. The More Personal Computing segment comprises of windows, devices, gaming, and search advertising. The company was founded by William Henry Gates III in 1975 and is headquartered in Redmond, WA. (See Full Profile)
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