Microsoft Corporation (NASDAQ: MSFT) announced a new $40 billion stock buyback plan on Tuesday. Shares gained following the announcement. The Company’s previous share repurchase program will expire on Sept. 30. Separately, the tech giant lifted its quarterly dividend by 22% to 28 cents. The dividend will be payable on November 21, the company said. Commenting over the share repurchase program, Microsoft’s Chief financial officer, Amy Hood said in a statement, “These actions reflect a continued commitment to returning cash to our shareholders.”
Tag: MSFT
Microsoft Patent Sale: Judge Rejects Lawsuit Against AOL
A federal judge on Monday rejected a lawsuit against AOL Inc. (NYSE: AOL). Litigants in this case had accused AOL and some of its executives for fraud. They said that the company deliberately bought 14.8 million shares in 2011, keeping investors in dark about its plans to sell $1 billion worth patents to Microsoft Corp. (NASDAQ: MSFT) few months later. Litigants said that they suffered substantial losses as they sold shares before the patent deal. Following the deal, the stock had surged 43% in a single trading day. Litigants argued that both the CEO Tim Armstrong and ex-CFO Arthur Minson bought shares at discounted price and made windfall gains.
Major Movers on July 19; GE, GOOG, MSFT, AMD, CMG, WHR
Shares of General Electric Company (NYSE: GE) climbed about 4.60% by afternoon trade. The diversified technology solutions provider’s revenue and non-GAAP earnings slipped in the fiscal second quarter from the year earlier period; however, adjusted earnings beat Wall Street’s expectation. Continue reading Major Movers on July 19; GE, GOOG, MSFT, AMD, CMG, WHR
Don Mattrick to Replace Pincus as Zynga’s New Chief Executive Officer (ZNGA)
Embattled online social gaming services provider, Zynga Inc. (NASDAQ: ZNGA) announced on Monday that Don Mattrick will serve as its both new Chief Executive Officer and a member of the board directors , effective July 8 2013. Continue reading Don Mattrick to Replace Pincus as Zynga’s New Chief Executive Officer (ZNGA)
Major Movers on June 20; MU, NOK, MSFT, GME, RAD, FNSR, WMGI
Micron Technology Inc, (NASDAQ: MU) plunged about 3.15% by afternoon trade. Across-the-board sell-off in U.S. equities on Thursday could be the only reason why Micron shares are sliding. The Company handed better-than-expected fiscal third quarter results on Wednesday. For the quarter, the company reported adjusted earnings of 4 cents a share on revenue of $2.32 billion while analysts’ consensus estimate was for earnings of 2 cents a share on revenue of $2.25 billion. On Thursday, at least five brokerage firms lifted their price target on Micron Technology’s shares. Continue reading Major Movers on June 20; MU, NOK, MSFT, GME, RAD, FNSR, WMGI
Microsoft Shows Interest in Buying Nook’s E-Reader Business (BKS, MSFT)
Shares of Barnes & Noble (NYSE: BKS) soared on Thursday after TechCrunch reported that Microsoft Corp. (NASDAQ: MSFT) has considered offering the bookseller $1 billion to acquire its e-reader (tablet) business.
Continue reading Microsoft Shows Interest in Buying Nook’s E-Reader Business (BKS, MSFT)
Major Movers on April 19; RH, VRTX, IBM, ACTG, MSFT, EFII
Restoration Hardware Holdings Inc. (NYSE: RH) skyrocketed about 20% by midday trading after the home furnisher, late last evening reported very strong fiscal fourth quarter results and provided upbeat guidance on the fiscal first quarter and full-year. The Company reported earnings of 64 cents a share, while analysts’ consensus estimate was for earnings of 60 cents a share, according to a data compiled by Thomson Reuters. Net revenue surged about 30% to $398.05 million in the fiscal fourth quarter from $305.24 million, in the same quarter of last year. Analysts’ consensus forecast was for revenue of $390.86 million. Same-store-sales soared 26%. For the fiscal first quarter, the Company expects revenue growth 28% to 31%. For the full fiscal year, it expects revenue growth of 19% to 22%.
Continue reading Major Movers on April 19; RH, VRTX, IBM, ACTG, MSFT, EFII
Major Movers on April 11; MSFT, ROST, FTNT, APOG, XRX, RT, IART, ZUMZ
Shares of Microsoft Corporation (NASDAQ: MSFT), Hewlett-Packard Company (NYSE: HPQ) slumped on Thursday after market research consulting firm IDC said that sales of PCs tumbled 12.9% in the first quarter of the current year, a steepest decline in quarterly sales since 1994 when IDC started keeping track on quarterly PC sales.
Continue reading Major Movers on April 11; MSFT, ROST, FTNT, APOG, XRX, RT, IART, ZUMZ
Microsoft to Use Advanced Micro Devices Chips For its New Xbox Console (AMD, MSFT)
Shares of Advanced Micro Devices Inc. (NYSE: AMD) leaped about 13% on Monday after Bloomberg reported that the software giant, Microsoft Corp. (NASDAQ: MSFT) will be using AMD processors for its upcoming Xbox, videogame console as it looks to slash expenses for making machines and entice developers to roll out more game titles.
Continue reading Microsoft to Use Advanced Micro Devices Chips For its New Xbox Console (AMD, MSFT)
Dell to go Private in Deal Worth $24.4 Billion (DELL)
Dell Inc. (NASDAQ: DELL) announced on Tuesday that it has reached a deal to make itself private, in a $24.4 billion leveraged buyout—the biggest buyout transaction since the financial crisis.
Continue reading Dell to go Private in Deal Worth $24.4 Billion (DELL)