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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Asia shares rise as U.S. manufacturing perks up

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08/04/2020 | 01:54am EDT

* Asian stock markets: https://tmsnrt.rs/2zpUAr4

* U.S. ISM data boosts Asian shares

* Gold near record high as virus risks remain

* Oil gives up gains on expected output increase

TOKYO/WASHINGTON, Aug 4 (Reuters) - Asian shares rose on Tuesday after strong U.S. manufacturing data and gains in tech stocks helped investors look past broader worries about the coronavirus and global economy.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.05%, but shares in China edged 0.17% lower. Australian stocks gained 2% for the biggest intraday gain since July 21. Tokyo shares also jumped by more than 1%.

Euro Stoxx 50 futures were up 0.15%, German DAX futures rose 0.11%, while FTSE futures were down 0.06%.

Oil futures gave up their overnight gains and fell due to nagging worries about an increase in the supply of crude. U.S. stock futures were 0.02% lower.

An industry gauge released overnight indicated U.S. manufacturing activity expanded in July at the fastest pace in more than a year, which helped Wall Street shares rise on Monday.

However, some investors remain cautious due to worries about a resurgence of the coronavirus and a diplomatic tussle over Chinese tech companies' operations in the United States.

"It has been an upbeat U.S. trading session and Asia will absorb the leads accordingly," Chris Weston, head of research at Pepperstone, said in a market note.

On Monday the Dow Jones Industrial Average rose 0.89%, the S&P 500 gained 0.72%, and the Nasdaq Composite advanced 1.47% to set a record closing high as investors cheered the manufacturing data.

That data also caused the U.S. Treasury curve to steepen, an indication of improved investor sentiment.

U.S. stocks received an additional lift from Microsoft , which jumped 5.6% after it formally declared interest in buying the U.S. operations of TikTok, a popular video-sharing app owned by Chinese tech company ByteDance.

U.S. President Donald Trump has threatened to ban TikTok unless its U.S. operations are sold off from ByteDance.

Washington is also preparing to take action against other Chinese software companies that could share user data with Beijing, setting the stage for further conflict.

The dollar held steady against its counterparts as traders awaited progress in negotiations for additional economic stimulus.

U.S. House Speaker Nancy Pelosi will meet with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Tuesday to continue talks, raising hopes for a breakthrough sometime soon.

The "only good thing we can say on the political impasse in Washington is that negotiations remain ongoing," analysts at National Australia Bank said in a market note.

Chicago Federal Reserve Bank President Charles Evans on Monday called forcefully for more U.S. government spending to support the economy, saying "demand trouble is brewing" as existing relief policies expire.

Spot gold was down 0.17% on Tuesday but still near a record high of $1,984.66 set on Monday amid support from virus fears.

U.S. crude dipped 0.68% to $40.73 a barrel, while Brent crude fell 0.75% to $43.82 per barrel due to worries about extra supply coming to market.

Russia has started to increase oil and gas output, a source told Reuters. Other oil producers are also expected to increase output this month after OPEC and its allies agreed to ease production curbs.

(Reporting by Chris Prentice in Washington; Editing by Sam Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
AGGREKO PLC 2.70% 379.8 Delayed Quote.-55.58%
DAX -0.23% 12730.77 Delayed Quote.-3.69%
DJ INDUSTRIAL 0.45% 27907.36 Delayed Quote.-2.65%
EURO STOXX 50 0.02% 3194.09 Delayed Quote.-14.73%
LONDON BRENT OIL -3.99% 40.5 Delayed Quote.-38.18%
MICROSOFT CORPORATION 0.78% 212.02 Delayed Quote.31.43%
NASDAQ 100 1.03% 11535.106598 Delayed Quote.29.66%
NASDAQ COMP. 0.95% 11277.742994 Delayed Quote.24.46%
S&P 500 0.55% 3381.58 Delayed Quote.3.24%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.01% 77.4303 Delayed Quote.27.06%
WTI -4.54% 38.24 Delayed Quote.-34.77%
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Financials (USD)
Sales 2021 157 B - -
Net income 2021 49 086 M - -
Net cash 2021 82 326 M - -
P/E ratio 2021 32,7x
Yield 2021 1,03%
Capitalization 1 592 B 1 592 B -
EV / Sales 2021 9,63x
EV / Sales 2022 8,59x
Nbr of Employees 163 000
Free-Float 98,6%
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Number of Analysts 37
Average target price 232,83 $
Last Close Price 210,33 $
Spread / Highest target 32,2%
Spread / Average Target 10,7%
Spread / Lowest Target -14,4%
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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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