MICROSOFT CORPORATION

(MSFT)
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Delayed Nasdaq  -  04:00 2022-08-15 pm EDT
293.47 USD   +0.53%
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Wall Street closes down, dragged lower by growth stocks

06/27/2022 | 04:00pm EDT

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window)

NEW YORK, June 27 (Reuters) - U.S. stocks ended lower on Monday, with few catalysts to fuel investor sentiment as they approach the half-way point of a year in which the equity markets have been slammed by heightened inflation worries and tightening Fed policy.

The major U.S. stock indexes lost ground after oscillating earlier in the session, with weakness in interest rate sensitive megacaps such as Amazon.com, Microsoft Corp and Alphabet Inc providing the heaviest drag.

"The reason for lack of direction this week and next week is investors are looking for what’s going to happen in the second quarter reporting period," said Sam Stovall, chief investment strategist of CFRA Research in New York.

All three indexes are on course to notch two straight quarterly declines for the first time since 2015. They also appear set to post losses for June, which would mark three consecutive down months for the tech-heavy Nasdaq, its longest losing streak since 2015.

The S&P was on track to report its fifth worst year-to-date price decline since 1962 as of Friday, Stovall said.

"Every time the SPX rose by more than 20% in a year it fell by an average of 11% starting relatively early in the new year. And all years where the decline started in the first half got back to break even before the year was out."

"No guarantee that’s going to happen this year, but the market could surprise us to the upside," Stovall said.

Rising oil prices helped put energy stocks out front, with economically sensitive smallcaps and semiconductors and transports also outperforming the broader market.

Economic data surprised to the upside, with new orders for durable goods and pending home sales beating expectations and adding credence to U.S. Federal Reserve Chairman Jerome Powell's assertion that the economy is robust enough to withstand the central bank's attempts to rein in decades-high inflation without sliding into recession.

According to preliminary data, the S&P 500 lost 11.69 points, or 0.30%, to end at 3,900.05 points, while the Nasdaq Composite lost 105.70 points, or 0.91%, to 11,501.92. The Dow Jones Industrial Average fell 55.57 points, or 0.18%, to 31,445.11.

With several weeks to go until second-quarter reporting commences, 130 S&P 500 companies have pre-announced. Of those, 45 have been positive and 77 have been negative, resulting in a negative/positive ratio of 1.7 stronger than the first quarter but weaker than a year ago, according to Refinitiv data.

Shares of retail stock trading platform Robinhood Markets rose after media reports said Goldman Sachs changed the stock to "neutral" from "sell".

But the broker's double downgrade of cryptocurrency exchange Coinbase Global Inc's shares to "sell" from "buy", sent its stock sliding. (Reporting by Stephen Culp; additional reporting by Shreyashi Sanyal and Amruta Khandekar in Bengaluru; editing by Grant McCool)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.33% 122.08 Delayed Quote.-15.72%
AMAZON.COM, INC. -0.26% 143.18 Delayed Quote.-14.12%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.13% 0.70104 Delayed Quote.-1.99%
BRITISH POUND / US DOLLAR (GBP/USD) -0.10% 1.20454 Delayed Quote.-10.37%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.03% 0.77457 Delayed Quote.-1.08%
COINBASE GLOBAL, INC. 1.64% 91.97 Delayed Quote.-63.56%
DOW JONES INDUSTRIAL 0.45% 33912.44 Real-time Quote.-7.09%
EURO / US DOLLAR (EUR/USD) -0.01% 1.01601 Delayed Quote.-10.63%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.24% 0.012601 Delayed Quote.-6.47%
LONDON BRENT OIL 0.34% 93.91 Delayed Quote.25.61%
MICROSOFT CORPORATION 0.53% 293.47 Delayed Quote.-12.74%
NASDAQ COMPOSITE 0.62% 13128.05 Real-time Quote.-16.60%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.31% 0.63419 Delayed Quote.-5.68%
ROBINHOOD MARKETS, INC. 0.73% 11.01 Delayed Quote.-38.01%
WTI 0.52% 88.581 Delayed Quote.21.92%
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Analyst Recommendations on MICROSOFT CORPORATION
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Financials (USD)
Sales 2023 220 B - -
Net income 2023 76 250 M - -
Net cash 2023 79 960 M - -
P/E ratio 2023 29,0x
Yield 2023 0,89%
Capitalization 2 189 B 2 189 B -
EV / Sales 2023 9,57x
EV / Sales 2024 8,21x
Nbr of Employees 221 000
Free-Float 99,6%
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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 48
Last Close Price 293,47 $
Average target price 333,71 $
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Satya Nadella Chairman & Chief Executive Officer
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
James Kevin Scott Chief Technology Officer & Executive VP
Hemma Prafullchandra CTO
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