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April 18, 2013
14:22 EDTMSFTEarnings Preview: Microsoft seeks to continue rise despite weak PC sales
Microsoft (MSFT) is scheduled to report Q3 results after the market close on Thursday, April 18, with a conference call scheduled for 5:30 pm ET. Microsoft, a member of the Dow Jones Industrial Average, sells and licenses software to consumers and businesses, as well as marketing hardware including the Xbox and the Surface tablet. EXPECTATIONS: Analysts are looking for earnings per share of 68c on revenue of $20.56B, according to First Call. The consensus range for EPS is 64c-73c on revenue of $19.57B-$21.65B. LAST QUARTER: Microsoft reported Q2 EPS of 76c against estimates for 75c on revenue of $21.46B against estimates for $21.53B. The company said at that time that it had sold over 60M Windows 8 licenses to date. Microsoft forecast that for Q3 its product revenue would have "low teens" growth, its enterprise services would have "mid-teens" growth and that its multi-year licensing revenue would grow by "low double-digits" in the quarter. RESEARCH: Last week, research firms International Data Corporation and Gartner both estimated that PC sales declined by double-digits in the first three months of the year, with IDC stating sales fell 14% and Gartner pegging the slide at 11% compared to the prior year. The day after those reports, Nomura analyst Rick Sherlund downgraded the software maker to Neutral from Buy, citing sluggish sales of the Windows 8 operating system and Microsoft's lack of "compelling" new hardware products. Sherlund set a $30 price target on the shares, though he added that Microsoft's investment potential remains attractive for value-oriented buyers. The same day, Goldman Sachs downgraded Microsoft to Sell with a $27 price target, also citing the research from IDC. Since then, Bernstein said it expects Microsoft to report stronger than expected Q3 results, citing the potential benefit from corporate upgrades to Windows 7. Bernstein maintains an Outperform rating on the name. PRICE ACTION: In the last three months, Microsoft shares have gained about 5.7%. In afternoon trading ahead of tonight's report, Microsoft is nearly unchanged from yesterday's close at $28.81.
News For MSFT From The Last 14 Days
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April 24, 2015
09:20 EDTMSFTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
07:33 EDTMSFTNomura's Shurland upgrades Microsoft to Buy citing expected 2016 acceleration
Nomura's Richard Shurland upgraded Microsoft to Buy from Neutral with a $50 price target. Shurland said Microsoft's Q3 results reflected difficult comps and core business weakness due to the transition to cloud, but results were better than guidance. The analyst said there is emerging evidence that Azure has turned positive on gross margins and Office 365 margins have expanded sharply. Shurland believes Microsoft will begin to show low single digit revenue growth in 2016, with about 10% EPS growth from share repurchase leverage and with a 2.9% dividend yield. He also said he views valuation as reasonable.
07:26 EDTMSFTMicrosoft price target raised to $50 from $47 at RBC Capital
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07:02 EDTMSFTMicrosoft upgraded to Buy from Neutral at Nomura
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06:31 EDTMSFTMicrosoft estimates more likely to go down than up, says Citigroup
Citigroup attributes the majority of Microsoft's earnings beat to "significantly" lower than expected operating expenses and it no longer expects next week's analyst day to be a negative catalyst as the company said FY16 guidance won't be given. Citi, however, still believes estimates are too high and are more likely to go down than up. It expects Microsoft shares to underperform and reiterates a Sell rating on the stock. It raised its price target for shares to $37 from $36.
06:30 EDTMSFTAmazon facing tough competition in cloud computing, NY Times says
Amazon (AMZN) remains dominant in cloud computing services, but other huge tech players, some of whom have many more resources than the e-commerce company, have entered the fray, according to The New York times. Microsoft (MSFT), the distant number two in the space, is especially committed to cloud computing services and its business is growing quickly, although analysts believe that tt may have difficulty signing up smaller companies, the newspaper stated. Reference Link
06:16 EDTMSFTEU considers new regulator to oversee internet companies, WSJ reports
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April 23, 2015
19:45 EDTMSFTMicrosoft sees Q4 devices, consumer licensing revenue 3.2B-$3.4B
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19:16 EDTMSFTOn The Fly: After Hours Movers
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17:57 EDTMSFTMicrosoft up 3% after reporting better-than-expected Q3 earnings
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16:11 EDTMSFTMicrosoft reports Q3 Commercial revenue grew 5% to $12.8B
Commercial revenue grew 5%, up 7% in constant currency, to $12.8B. Commercial cloud revenue grew 106%, up 111% in constant currency, driven by Office 365, Azure and Dynamics CRM Online, and is now on an annualized revenue run rate of $6.3B. Server products and services revenue grew 12%, up 16% in constant currency, with premium versions of Windows Server, System Center Server and SQL Server together growing 25%.
16:10 EDTMSFTMicrosoft reports Devices and Consumer revenue grew 8% to $9B
Devices and Consumer revenue grew 8%, up 11% in constant currency, to $9B. Office 365 Consumer subscribers increased to over 12.4M, up 35% sequentially. Windows OEM Pro revenue declined 19%, as Pro mix returned to pre-Windows XP end-of-support levels and the business PC market declined. Windows OEM non-Pro revenue declined 26%, primarily due to channel inventory drawdown and ongoing mix shift to opening price point devices. Search advertising revenue grew 21%, up 24% in constant currency, with Bing U.S. market share at 20.1%, up 150 basis points over prior year.
16:08 EDTMSFTMicrosoft says stronger U.S. dollar had 'significant' impact on Q3 results
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16:07 EDTMSFTMicrosoft results include $190M of integration, restructuring expenses
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16:05 EDTMSFTMicrosoft reports Q3 EPS ex-items 62c, consensus 51c
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15:38 EDTMSFTEarnings Watch: Citi says sell Microsoft shares, Wells Fargo sees outperformance
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12:58 EDTMSFTMicrosoft April weekly volatility elevated into Q3 and outlook
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12:47 EDTMSFTMicrosoft technical notes before earnings
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April 22, 2015
10:01 EDTMSFTEY and Microsoft form strategic business relationship
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08:16 EDTMSFTSeveral companies to benefit from hybrid cloud growth, says Pacific Crest
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