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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Dow, S&P 500 up; tech-related shares underperform value

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08/10/2020 | 03:08pm EDT

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

* Eastman Kodak plummets as govt loan agreement put on ice

* Energy stocks outperform on strong crude

* Dow rises 1.3%, S&P 500 up 0.3%, Nasdaq down 0.4%

Aug 10 (Reuters) - The S&P 500 and Dow rose on Monday, as investors rotated into value stocks from heavyweight tech-related names while they awaited news on progress in a fiscal support bill for the country's battered economy.

The Nasdaq, which hit a record high every day of last week, was dragged lower by Microsoft Corp, Amazon.com Inc and Facebook Inc. The Dow was up 1.1% and touched a more than five-month high.

Value stocks, which tend to outperform growth coming out of a recession, have gotten a lift in recent days. The Russell 1000 value index rose 0.9% on Monday, while the Russell 1000 growth index slipped 0.6%.

Similar rotations in recent years have not lasted very long, said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

So, "I'm looking at this more of a correction in growth stocks as opposed to just a correction" in the market.

Bets on a potential coronavirus vaccine, historic fiscal and monetary support, and more recently, a better-than-expected second-quarter earnings season have brought the S&P 500 close to its February record closing high.

The Dow Jones Industrial Average rose 352.34 points, or 1.28%, to 27,785.82, the S&P 500 gained 8.95 points, or 0.27%, to 3,360.23 and the Nasdaq Composite dropped 39.74 points, or 0.36%, to 10,971.24.

Providing some support, U.S. President Donald Trump signed executive orders that partly restored enhanced unemployment benefits after talks between the White House and top Democrats in Congress about fresh stimulus broke down last week.

U.S. Treasury Secretary Steven Mnuchin, in an interview to CNBC on Monday, said the Trump administration and Congress could reach an agreement as soon as this week if Democrats are "reasonable."

Energy and industrials, among the worst performers this year, led gains among major S&P sectors. Technology and communication services fell.

Among individual movers, Eastman Kodak Co sank after its $765-million loan agreement with the U.S. government to produce pharmaceutical ingredients was put on hold due to "recent allegations of wrongdoing."

Microsoft Corp fell as sources said its bid to carve out parts of TikTok from its Chinese owner ByteDance will be a technically complex endeavor.

Advancing issues outnumbered declining ones on the NYSE by a 2.51-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored advancers.

The S&P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 101 new highs and 10 new lows.

(Additional reporting by Ambar Warrick and Medha Singh in Bengaluru, additional reporting by Chuck Mikolajczak; editing by Uttaresh.V and Tom Brown)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 2.49% 3095.13 Delayed Quote.67.50%
DJ INDUSTRIAL 1.34% 27173.96 Delayed Quote.-4.78%
EASTMAN CHEMICAL COMPANY 0.34% 77.3 Delayed Quote.-2.80%
EASTMAN KODAK COMPANY 6.27% 9.32 Delayed Quote.100.43%
FACEBOOK 2.12% 254.82 Delayed Quote.24.15%
MICROSOFT CORPORATION 2.28% 207.82 Delayed Quote.28.85%
NASDAQ 100 2.34% 11151.132967 Delayed Quote.24.05%
NASDAQ COMP. 2.26% 10913.561787 Delayed Quote.18.94%
S&P 500 1.60% 3298.46 Delayed Quote.0.49%
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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 32,3x
Yield 2021 1,04%
Capitalization 1 573 B 1 573 B -
EV / Sales 2021 9,51x
EV / Sales 2022 8,48x
Nbr of Employees 163 000
Free-Float 98,6%
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Technical analysis trends MICROSOFT CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 37
Average target price 232,83 $
Last Close Price 207,82 $
Spread / Highest target 33,8%
Spread / Average Target 12,0%
Spread / Lowest Target -13,4%
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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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