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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Wall Street surges on Apple, Microsoft, Amazon

10/12/2020 | 02:35pm EST

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window)

* Apple jumps ahead of Tuesday event

* Twitter rises after Deutsche Bank upgrades to "buy"

* White House calls for limited COVID-19 relief bill

* Indexes: Dow +1.13%, S&P 500 +2.01%, Nasdaq +3.16

Oct 12 (Reuters) - Wall Street surged on Monday, fueled by expectations of a coronavirus relief package and by a rally in Amazon, Apple and other technology stocks ahead quarterly earnings season.

Apple Inc jumped nearly 7% ahead of an event on Tuesday, when it is expected to unveil its newest iPhones.

Amazon rallied over 6% ahead of its annual Prime Day shopping event on Oct. 13 and 14. Microsoft climbed 3.5%, helping lift the S&P 500 information technology index by 3.3%.

The S&P 500 was about 1% below its record closing high from Sept. 2, nearly recovering from most of a 9% pullback last month.

Optimistic sentiment dominated after the Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

"It looks like the administration wants a deal done before the election," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. "Now it's up to the Republican Senate to figure out how big the number is going to be."

Many investors view Democratic candidate Joe Biden as more likely to raise taxes, and for months have seen a second term for Trump, who favors deregulation, as better for the overall stock market.

However, with growing expectations of a Democratic win in next month's presidential election, investors are increasingly pointing to potential benefits of a Biden presidency, such as greater infrastructure spending and less global trade uncertainty.

Betting odds aggregated by RealClearPolitics suggest bettors see a 67% chance Biden will win and a 33% chance for Trump, the greatest gap so far between the two candidates.

With the Oct. 15 presidential debate officially canceled, Trump plans to travel to key battleground states this week as his doctor declared he was no longer a transmission risk for the novel coronavirus.

Results from big U.S. banks will be in focus this week, with JPMorgan & Co and Citigroup set to report on Tuesday. The S&P 500 banks index gained 0.9%.

Overall, analysts expect third-quarter earnings for S&P 500 companies to fall 20.7% from a year earlier, smaller than a 30.6% slump in the second quarter.

The Dow Jones Industrial Average was up 1.13% at 28,910.08 points, while the S&P 500 gained 2.01% to 3,546.95.

The Nasdaq Composite added 3.16% at 11,945.77.

The S&P 500 energy index fell 0.4% as oil prices dropped on easing supply worries.

Twitter Inc jumped 5.7% after Deutsche Bank upgraded the social media company's shares to "buy" on expectations of continued growth in 2021.

Advancing issues outnumbered declining ones on the NYSE by a 1.48-to-1 ratio; on Nasdaq, a 1.34-to-1 ratio favored advancers.

The S&P 500 posted 70 new 52-week highs and no new lows; the Nasdaq Composite recorded 158 new highs and 11 new lows. (Additional reporting by Medha Singh and Shivani Kumaresan in Bengaluru Editing by Marguerita Choy)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 1.64% 3220.08 Delayed Quote.74.26%
APPLE INC. 3.08% 122.72 Delayed Quote.62.17%
CITIGROUP INC. 0.73% 55.47 Delayed Quote.-30.57%
DEUTSCHE BANK AG -1.11% 9.411 Delayed Quote.37.99%
DJ INDUSTRIAL 0.63% 29823.92 Delayed Quote.3.86%
LONDON BRENT OIL 0.70% 47.42 Delayed Quote.-27.86%
MICROSOFT CORPORATION 1.00% 216.21 Delayed Quote.35.75%
NASDAQ 100 1.52% 12455.326441 Delayed Quote.40.48%
NASDAQ COMP. 1.28% 12355.105992 Delayed Quote.36.03%
S&P 500 1.13% 3662.45 Delayed Quote.13.36%
WTI 1.19% 44.49 Delayed Quote.-26.43%
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Financials (USD)
Sales 2021 158 B - -
Net income 2021 51 344 M - -
Net cash 2021 76 102 M - -
P/E ratio 2021 32,0x
Yield 2021 1,01%
Capitalization 1 635 B 1 635 B -
EV / Sales 2021 9,86x
EV / Sales 2022 8,81x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | MarketScreener
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Average target price 242,47 $
Last Close Price 216,21 $
Spread / Highest target 28,6%
Spread / Average Target 12,1%
Spread / Lowest Target -16,7%
EPS Revisions
Managers
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
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