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News Breaks
January 31, 2014
07:19 EDTMSFTMicrosoft director Thompson possible next chairman, Bloomberg reports
Microsoft's board is considering as chairman its independent director John Thompson, to take the place of co-founder Bill Gates, sources say, reports Bloomberg. But if Gates were to step down as chairman, he may be more involved in the company, sources added, especially in areas like product development. Reference Link
News For MSFT From The Last 14 Days
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January 29, 2016
06:04 EDTMSFTJefferies keeps Microsoft at Underperform following Q2 results
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January 28, 2016
19:09 EDTMSFTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 15.2%... QLogic (QLGC), up 11%... Fortinet (FTNT), up 9.2%... ShoreTel (SHOR), up 5.7%... Skyworks (SWKS), up 3.6%... Flextronics (FLEX), up 4.6%... Microsoft (MSFT), up 3.6%... Proofpoint (PFPT), up 3.1%. ALSO HIGHER: Palo Alto Networks (PANW) is up 1.1% and FireEye (FEYE) is up 1.6% after Fortinet reported quarterly results. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 13.2%... Synaptics (SYNA), down 3.8%... Electronic Arts (EA), down 8%... Quality Systems (QSII), down 9%... Visa (V), down 1.2%. ALSO LOWER: Facebook (FB) is down 1.2%, Netflix (NFLX) is down 2.7%, and Alphabet (GOOG, GOOGL) is down 1.5% and 1.7%, respectively, after Amazon reported quarterly results.
18:37 EDTMSFTMicrosoft lowers FY16 operating expenses outlook to $31.4B-$31.6B
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18:36 EDTMSFTMicrosoft expects a negative impact of 4 points on total Q3 revenue
Microsoft CFO Amy Hood provided the following Q3 segment guidance: sees Commercial unearned revenue $18.8B-$19B; sees Productivity and Business Processes revenue of $6.4B-$6.6B; sees Intelligent cloud revenue of $6.1B-$6.3B; sees Personal Computing revenue $9.1B-$9.4B; sees COGS of $7.7B-$7.8B. Management expects commercial business to remain healthy. Microsoft reported Office 365 consumer subscribers of 20.6M vs. 9.2M last year and 18.2M in Q1. Hood expanded on the company's More Personal Computing guidance, noting that Windows will return to a normal level of pro-inventory in Q3 and the company expects non-Pro revenue to align more closely with the consumer PC market. Hood said that Bing will continue to gain share and remain profitable. The company expects continued momentum and growth in Surface Book and Surface Pro 4 and sees the Surface expanding into additional countries. The company expects normal post-holiday seasonality in gaming. Hood expects her income and expenses to be negative $300M in Q3. Hood concluded her remarks by saying that the company remains focused on creating new markets and taking share in existing ones. Guidance and comments provided in Q2 earnings conference call.
16:15 EDTMSFTMicrosoft reports Q2 Intelligent Cloud revenue up 5% to $6.3B
Reports Q2 Intelligent Cloud revenue up 5%, 11% in constant currency, to $6.3B. Reports server products and cloud services revenue grew 10% in constant currency. Reports Azure revenue grew 140% in constant currency with revenue from Azure premium services growing nearly 3x year-over-year. "Over one third of the Fortune 500 have chosen our Enterprise Mobility solutions, up nearly 3x year-over-year," said the company. Reports revenue in Productivity and Business Processes declined 2%, or grew 5% in constant currency, to $6.7B. Reports Office commercial products and cloud services revenue grew 5% in constant currency driven by Office 365 revenue growth of nearly 70% in constant currency. Reports Office 365 consumer subscribers increased to 20.6M. Reports revenue in More Personal Computing declined 5%, or down 2% in constant currency, to $12.7B. Reports Windows OEM revenue declined 5% in constant currency, driven by higher consumer premium and mid-range device mix. Reports Surface revenue increased 29% in constant currency driven by the launch of Surface Pro 4 and Surface Book. Reports Search advertising revenue excluding traffic acquisition costs grew 21% in constant currency with continued benefit from Windows 10 usage. Reports Xbox Live monthly active users grew 30% year-over-year to 48M.
16:10 EDTMSFTMicrosoft reports Q2 adjusted EPS 78c, consensus 71c
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16:00 EDTMSFTOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures down 84c to 25.21 Option volume leaders: FB AAPL MSFT AMZN NFLX BAC BABA QCOM AAL MU C RIG
15:05 EDTMSFTEarnings Watch: Analysts more bullish on Microsoft since last quarter's blowout
Microsoft (MSFT) is scheduled to report results of its second quarter of fiscal year 2016 after the market close on Thursday, January 28, 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, offers cloud computing and other business services, and markets computer, phone and gaming hardware. EXPECTATIONS: Analysts are looking for earnings per share of 71c on revenue of $25.26B, according to First Call. The consensus range for EPS is 66c-75c on revenue of $24.62B-$25.92B. On its last earnings conference call, Microsoft said it expected Q2 productivity revenue of $6.6B-$6.67B, Q2 revenue for intelligent cloud of $6.2B-$6.3B and Q2 personal computing revenue of $12B-$12.4B. LAST QUARTER: On October 22, Microsoft reported first quarter earnings per share of 67c, beating the consensus analyst forecast of 59c. The company's revenue came in at $21.7B, topping the consensus estimate of $21.03B. NEWS: On December 17, Microsoft announced a new joint venture that will license, deploy, manage and optimize Windows 10 for China's government agencies and certain state owned enterprises and provide ongoing support and services for these customers. That announcement followed Microsoft inking a partnership with Baidu (BIDU) to make it easy for their customers to upgrade to Windows 10 while providing local browsing and search experiences, and universal apps. On January 4, Microsoft said in a blog post that operating system Windows 10 was currently active on over 200M devices, bringing the company closer to its goal of seeing Windows 10 active on more than 1B devices. STREET RESEARCH: On the day after the company's last earnings report, BofA Merrill Lynch analyst Kash Rangan upgraded Microsoft to Buy from Neutral, saying he believes the company was at a turning point with its operating income headed for growth following four years of flattish performance. At the time, Rangan increased his price target on the stock to $63 from $46. On November 20, Deutsche Bank analyst Ross Sandler wrote in a note to investors that actions taken by Google parent Alphabet (GOOG) and comments made by its executives indicated that the tech giant plans to make a major push in the cloud infrastructure market. Based on a comment from executive Urs Holzle that the company's revenue from the cloud could surpass its ad revenue by 2020, Sandler estimated that the company is seeking to boost its cloud revenue to $100B by 2020. Google's push in the cloud is negative for Microsoft, but it will take years for Google to build up its cloud business to the point where it's competitive with Microsoft's cloud offering, Azure, the analyst contended. On November 30, Raymond James analyst Michael Turits upgraded Microsoft two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's three main segments. Microsoft will emerge alongside Amazon (AMZN) and Google as part of a small group of "hyperscale" cloud vendors that can combine Infrastructure-as-a-Service, Platform-as-a-Service and Software-as-a-Service, predicted Turits. Forecasting that Microsoft's cloud revenue will grow at a compound annual growth rate of 6% between fiscal 2016 and fiscal 2018, the analyst estimated that the company's overall profit growth would accelerate to at least 8% over the long-term. Moreover, the growth of Microsoft's Office business appears to be accelerating, despite competition from Google, said Turits, who set a $62 price target on the shares. On January 13, Morgan Stanley analyst Keith Weiss upgraded Microsoft to Overweight, the firm's equivalent of a "Buy" rating, from Equal Weight. Microsoft is emerging as a public cloud winner, is gaining share in the data center market and Office 365 is seeing its base grow and its per user pricing increase, all of which set up the company to resume earnings growth after a five year period of stagnation, Weiss told investors. The analyst, who believes Microsoft's earnings growth and "aggressive" return of capital to shareholders should help its multiple expand, raised his price target on the stock to $66 from $57. This morning, UBS analyst Brent Thill said that given Apple's (AAPL) recent negative commentary around macro uncertainty he was lowering his second half of the year estimates for Microsoft on the potential for more conservative guidance when it issues its Q2 report after the closing bell. Thill trimmed his price target on Microsoft to $58 from $60, but said he remains confident the company is making the right moves to the cloud and kept a Buy rating on shares. PRICE ACTION: On the day after the company's last quarterly report, Microsoft shares jumped 10.4% to $53.03. In late afternoon trading ahead of Thursday's report, Microsoft advanced 1.25% to $51.86.
14:32 EDTMSFTMicrosoft January weekly 52 straddle priced for 5.5% movement into Q2
14:29 EDTMSFTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Microsoft (MSFT), consensus 71c... Amazon (AMZN), consensus $1.56... Amgen (AMGN), consensus $2.29... Electronic Arts (EA), consensus $1.81... Skyworks (SWKS), consensus $1.58... Western Digital (WDC), consensus $1.54... Visa (V), consensus 68c... Flextronics (FLEX), consensus 31c... NetSuite (N), consensus 4c... Fortinet (FTNT), consensus 18c... Synaptics (SYNA), consensus $1.58... Proofpoint (PFPT), consensus (11c).
12:41 EDTMSFTMicrosoft technical notes before earnings
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10:44 EDTMSFTStocks with call strike movement; AMZN MSFT
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09:38 EDTMSFTActive equity options trading on open
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08:50 EDTMSFTUBS trims Microsoft estimates for second half on macro uncertainty
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08:04 EDTMSFTHarman CEO: On track to deliver full year plan
"I am pleased to announce our 11th consecutive quarter of top and bottom line growth. Our strong first half results were in-line with our expectations. While we are closely monitoring macroeconomic developments, at this time, we are on track to deliver on our full year plan," said Dinesh C. Paliwal, Harman (HAR) Chairman, President and CEO. "HARMAN continues to innovate and bring industry-first solutions to market. We are also partnering with key technology leaders such as Google (GOOG), Microsoft (MSFT) and Under Armour (UA) to capitalize on the opportunities presented by IoT for automotive, enterprise and consumer electronics. In addition, our acquisition of TowerSec will strengthen our cybersecurity leadership position for automotive."
06:32 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
Microsoft January weekly call option implied volatility is at 97, February is at 38; compared to its 52-week range of 15 to 39, suggesting large near term price movement into the expected release of Q2 results today after the market close.
January 27, 2016
13:47 EDTMSFTVMware tanks after providing lower guidance amid Cloud transition
Shares of virtualization software maker VMware (VMW) are falling after providing guidance, confirming layoffs and announcing executive changes. WHAT'S NEW: After the close of trading on Tuesday, the software company that is 80% owned by EMC (EMC) and provides software for corporate data centers, announced fourth quarter financial results while confirming earlier reports of layoffs and announcing a new chief financial officer. VMware, along with parent company EMC, is in the midst of a proposed acquisition by Dell. The company's Q4 earnings per share and revenue came in at $1.26 and $1.87B, respectively, slightly better than analysts were expecting; however, the company's view for fiscal year 2016 EPS and revenue of $4.07-$4.16 and $6.8B-$6.9B, respectively, were well below the $4.20 and $7.21B analysts are expecting. VMware also guided first quarter EPS to 83c-85c, also below analysts' 92c consensus. Along with its results, the company confirmed earlier reports that it intended to reduce its workforce by 800 and plans to take a charge of between $55M-$65M related to this action over the course of the first half of 2016. The company also announced that its CFO Jonathan Chadwick is leaving and will be replaced by EMC CFO Zane Rowe. WHAT'S NOTABLE: On its quarterly conference call discussing its earnings, VMware company referred to its growth in "emerging" products and businesses including NSX and User Computing and Virtual SAN, all of which grew strongly over the quarter. The company said it hopes its newer products are picking up the slack due to the declining growth in its mature "compute products." Pat Gelsinger, VMware's chief executive officer, "We recognize that our blockbuster compute products are reaching maturity and will represent a decreasing portion of our business going forward." The company is upgrading its Cloud strategy to better compete with leaders like Amazon (AMZN) and Microsoft (MSFT), which provide Cloud services via the internet and make the corporate data center that VMware focuses on less necessary. ANALYSTS' VIEWS: Summit Research analyst Srini Nandury downgraded VMware to Hold and lowered his price target for the shares to $40 from $80 following the company's quarterly results. The company's business will get worse before it gets better, Nandury told investors in a research note. Another downgrade came from research firm Baird's analyst Jayson Noland, who cut his rating on VMware to Neutral and lowered his price target to $60 from $80. Noland said the core vSphere business is facing incremental public cloud headwinds and substantial uncertainty related to the Class V common stock being issued to finance the EMC acquisition. Providing a more constructive view was UBS who said the current valuation levels of VMware offer a significant opportunity for patient investors. The firm noted the company will temper spending and focus on leveraging public clouds, which should provide a tailwind to both capital and operating expenditures. UBS reiterated its Buy rating and $72 price target on VMware. PRICE ACTION: Shares of VMware are down approximately 40% since the Dell-EMC deal was announced last October and are down over 9% to $44.84 in afternoon trading. OTHERS TO WATCH. Other companies in the cloud computing space include Amazon, Microsoft and Citrix Systems (CTXS).
12:02 EDTMSFTBox, Microsoft expand alliance to deliver better cloud experiences
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10:07 EDTMSFTMicrosoft announces launch of News Pro app
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07:59 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
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