Microsoft tanks 10 percent, hit by 4 downgrades on earnings
Source: AP-Excite
By BRANDON BAILEY
SAN FRANCISCO (AP) — Microsoft shares plunged 10 percent Tuesday after the software giant reported quarterly revenue that beat expectations but warned that a weak PC market and a strong dollar will curb growth this year. Many analysts slashed price targets on the stock and some cut their Buy ratings to Hold.
What are Wall Street's main concerns?
WHAT'S AHEAD
Microsoft showed promising signs of growth in new businesses, such as cloud computing, but Chief Financial Officer Amy Hood forecast revenue for the current period that missed analysts' expectations. Revenue for the quarter ending in March will be $21 billion if the company hits the midpoint of its own forecast. Analysts had forecast $23.8 billion, on average.
FULL story at link.
FILE - This July 3, 2014, file photo, shows the Microsoft Corp. logo outside the Microsoft Visitor Center in Redmond, Wash. Microsoft shares plunged more than 10 percent Tuesday, Jan. 27, 2015, after the software giant reported quarterly revenue that beat expectations but warned that a weak PC market and a strong dollar will curb growth this year. (AP Photo Ted S. Warren, File)
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So, it's "One", "Two", "Three", "Four", "Five", "Six", "Seven", "Eight", "Nine", "Ten" and you're OUT!
It is just like a Boxing Match Countdown! Literally!
If only is was that simple!!!
