Scalper1 News
With the Windows XP upgrade cycle over and the release of Windows 10 still months away, Microsoft’s (STOCK) business has hit a soft patch. The Redmond, Wash.-based software giant late Monday delivered better-than-expected December-quarter sales and earnings, but forecast March-quarter sales way below Wall Street targets. Jefferies analyst John DiFucci said Microsoft did to expectations “what the Patriots do to footballs,” a reference to the hot story about whether NFL team deflated balls. Microsoft (MSFT) was down 9% in midday trading in the stock market today, below 43 and just pennies above what would be a more than six-month low. A wave of Wall Street analysts cut their ratings and price targets on Microsoft stock after the earnings news. Citi cut its rating to sell from neutral. JPMorgan, Nomura and MKM Partners downgraded the stock to neutral. “After a lengthy 16-month period of multiple expansion for Microsoft’s stock, we see a… Scalper1 News
Scalper1 News