Software giant Microsoft stock took a whirlwind ride after it reported weaker than expected December 2022 (Q2 23) quarterly earnings Tuesday, with the market initially ignoring it on better cloud revenue (+38% constant currency vs +37% CC) However, that all fell apart after the earnings call. $MSFT lowered guidance, $50.5 billion to $51.5 billion in fiscal Q3 revenue vs analysts’ expectations for $52.43 billion. The stock gave back the entire initial earnings jump to go green to red, down over … Continue reading “Vicious Microsoft 20 percent Stock Gyrations After Lowers Cloud Guidance Reversing Gains to Losses”
Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal
Microsoft on Monday announced they are to acquire a 4% equity stake in the London Stock Exchange Group, which owns the London Stock Exchange. The deal is part of a ten-year commercial deal with the $LSEG to migrate the exchange operator’s data platform into the cloud. MSFT will enable digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud. Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the British exchange operator said. The transaction … Continue reading “Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal”
US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%
The markets reacted dovishly to the US CPI moderating after resurging in August with aggressive Fed interest rate rises. The repricing of risk was furious, plunging Treasury yields a weakening dollar and big gains in mega cap stock. The Vanguard Mega Cap Growth ETF (MGK) closed up 8.0%. The Nasdaq soared +654.23 or 6.36%. The big winners were the big Techs, Amazon, Google, Microsoft, Apple and even beaten down Tesla. US tech Bloomberg billionaires’ fortunes rose $59 billion, a one-day record … Continue reading “US Tech Billionaires Added $59 Billion in Richest Day Ever as Nasdaq Surged 7.5%”
Take Two Stock Falls 15% After Cuts Guidance as it Digests Zynga Merger
Take Two Interactive Software stock took a tumble after it announced disappointing second-quarter 2023 results Monday after the closing bell. $TTWO traded at $90.55▼ 17.85 or 16.47% after hours at a new 52 week low. TTWO incurred a loss of $257 million or $1.54 per share in the September quarter, compared to a profit of $10.2 million or $0.09 per share in the prior-year quarter. Clearly the lofty premium the gaming company paid for Zynga is still impacting. The two companies merged … Continue reading “Take Two Stock Falls 15% After Cuts Guidance as it Digests Zynga Merger”
Activision Blizzard Earnings and Revenue Higher with Diablo, Call of Duty and Candy Crush
Video game publisher Activision Blizzard reported better than expected third quarter earnings after the close Monday and updated on a pending acquisition of the company by Microsoft Corporation ($MSFT). Activision Blizzard ended the third quarter with 368 million monthly active users with its segment seeing revenue up double-digits thanks to the launch of “Diablo II: Resurrected” and “Diablo Immortal.” Released in October “Call of Duty: Modern Warfare II” was the fastest-selling title in the history of the franchise. $ATVI saw … Continue reading “Activision Blizzard Earnings and Revenue Higher with Diablo, Call of Duty and Candy Crush”
Microsoft Reports Soft Cloud Growth and Windows Licenses Lowering Guidance
Software giant Microsoft reported stronger than expected June 2022 quarterly earnings Tuesday, both revenue and earnings beat expectations. However, MSFT warned for the coming quarter which saw the stock slide around 7%. Microsoft Cloud segment saw another slowdown, it had been MSFT’s robust engine with 50% or more year-over-year sales growth. Azure and other cloud services saw sales slowdown to 35% in the latest quarter. The software giant was also hit by revenue from sales of Windows licenses to device … Continue reading “Microsoft Reports Soft Cloud Growth and Windows Licenses Lowering Guidance”
Fusion and NetSuite Cloud Applications Now Account for 30% of Oracle Revenue
Software giant Oracle reported mixed fiscal first quarter earnings after the close Monday missing on earnings and beating on revenue. New acquisition Cerner contributed $1.4 billion in revenue during the quarter. $ORCL benefited from Fusion and NetSuite cloud applications sales with competition on two main fronts, $AMZN Cloud infrastructure and $CRM platform database. Revenue rose 18% to $11.45 billion, beating analysts’ expectations of $11.44 billion. Cloud revenue grew 45% to $3.6 billion. Oracle’s two cloud businesses now account for more … Continue reading “Fusion and NetSuite Cloud Applications Now Account for 30% of Oracle Revenue”
Microsoft Cloud and Xbox Slowdown Hits Earnings Growth with Surging US Dollar
Software giant Microsoft reported weaker than expected June 2022 quarterly earnings Tuesday, despite month’s profit warning. after the close as both revenue and earnings beat expectations. Microsoft Cloud segment saw a sharp slowdown, it had been MSFT’s robust engine with 50% or more year-over-year sales growth. Azure and other cloud services saw sales slowdown to 40% in the latest quarter. The software giant was also hit by declining videogame sales and the effects of strong dollar. Microsoft Fiscal Fourth Quarter … Continue reading “Microsoft Cloud and Xbox Slowdown Hits Earnings Growth with Surging US Dollar”
Federal Reserve Gives All Banks a Pass in Annual Bank Stress Test
The Federal Reserve released its annual bank stress test after the market close Thursday. All 34 large banks tested remained well above their risk-based minimum capital requirements, and the Fed announced no restrictions relating to dividends and buybacks. With the dismal state of the economy through soaring inflation and record low consumer sentiment these tests were keenly watched. Banks suffered slightly more hypothetical losses in the 2022 severe test than last year, posting $612 billion in projected losses as capital … Continue reading “Federal Reserve Gives All Banks a Pass in Annual Bank Stress Test”
Microsoft Cloud Leads Robust Earnings and Revenue Beat for MSFT
Software giant Microsoft reported boom Q1 2022 quarter earnings Tuesday after the close as both revenue and earnings beat expectations. Microsoft Cloud generated $20.7 billion in revenue for the quarter, up 36% year over year.