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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Asian shares hit by surging coronavirus cases, U.S. stimulus woes

10/26/2020 | 10:18pm EST

Oct 27 (Reuters) - Asian stocks markets fell on Tuesday as soaring global coronavirus cases and slow progress on a U.S. stimulus deal hammered investor sentiment and took a toll on Wall Street.

MSCI's gauge of Asia Pacific stocks outside Japan was down 0.43%, with Australia's ASX 200 off 1.1% to an almost three-week low.

China's CSI300 Index edged down 0.1%, as investors looked out for any news from a meeting of China's Communist Party leaders to set the next five-year plan.

Data out earlier in the day also showed China's industrial profits grew at a slower pace in September, suggesting a recovery in the manufacturing sector is yet to be bedded-in.

In Japan, the benchmark Nikkei 225 dropped 0.28% in morning trade while Hong Kong's Hang Seng index was down 1.02%.

U.S. indices fell sharply overnight to open the week's trading, as anxiety over new record daily COVID-19 cases in the United States, Russia and France weighed on investor appetite.

Adding to the gloom, White House economic adviser Larry Kudlow told reporters on Monday that talks over a coronavirus relief package have slowed, though House Speaker Nancy Pelosi remained hopeful an agreement can be reached before the Nov. 3 elections.

Many Senate Republicans have resisted legislation of a scope that Pelosi and Mnuchin have discussed, totaling around $2 trillion.

"The challenge for markets is that in most cases they are already pricing a very strong economic bounce. The new outbreaks, and the potential for a double-dip recession, directly contradict this assumption," Michael McCarthy, chief market strategist at CMC Markets in Sydney.

National polls give Democrat Joe Biden a solid lead over president Donald Trump but the contest is much tighter in battleground states that could decide the outcome.

The sharp stock market decline set a bleak tone ahead of a busy third-quarter earnings season, with large U.S. tech firms like Apple Inc, Amazon.com Inc and Google-parent Alphabet Inc set to report. Microsoft Corp reports its results Tuesday.

The Dow Jones Industrial Average fell 2.29% overnight, the S&P 500 lost 1.86%, while the Nasdaq Composite dropped 1.64%.

The dollar was holding largely steady, moving just a touch lower to trade at 92.951 against a basket of six major currencies.

Much of the trading in currency markets, as well as other asset markets, was buffeted by the renewed coronavirus fears.

In early Asia, oil prices managed to staunch an extended sell-off though the outlook was weak due to the virus-induced worries over demand. Brent crude was up 12 cents, or 0.3%, at $40.58 a barrel by 0039 GMT, having dropped more than 3% overnight. U.S. oil was up 13 cents, or 03%, at $38.69 a barrel, after also declining more than 3% on Monday.

The safe-haven Spot gold added 0.3% to $1,907.41 an ounce Tuesday morning.

(Reporting by Kane Wu in Hong Kong and Pete Schroeder in New York; editing by Richard Pullin & Shri Navaratnam)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.65% 1824.97 Delayed Quote.36.25%
AMAZON.COM, INC. -0.51% 3203.53 Delayed Quote.73.37%
APPLE INC. 0.29% 123.08 Delayed Quote.67.17%
CMC MARKETS PLC -2.24% 371 Delayed Quote.159.21%
DJ INDUSTRIAL 0.20% 29883.79 Delayed Quote.4.50%
HANG SENG 0.59% 26699 Real-time Quote.-5.84%
LONDON BRENT OIL -0.13% 47.94 Delayed Quote.-28.42%
MICROSOFT CORPORATION -0.39% 215.37 Delayed Quote.37.10%
NASDAQ 100 0.01% 12456.406964 Delayed Quote.42.63%
NASDAQ COMP. -0.05% 12349.366333 Delayed Quote.37.70%
NIKKEI 225 0.03% 26809.37 Real-time Quote.13.29%
S&P 500 0.18% 3669.01 Delayed Quote.13.56%
S&P/ASX 200 0.38% 6615.3 Real-time Quote.-1.40%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.10% 75.0356 Delayed Quote.22.57%
WTI 0.17% 44.945 Delayed Quote.-28.04%
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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 31,9x
Yield 2021 1,01%
Capitalization 1 628 B 1 628 B -
EV / Sales 2021 9,82x
EV / Sales 2022 8,77x
Nbr of Employees 163 000
Free-Float 99,9%
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Mean consensus BUY
Number of Analysts 39
Average target price 242,47 $
Last Close Price 215,37 $
Spread / Highest target 29,1%
Spread / Average Target 12,6%
Spread / Lowest Target -16,4%
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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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