We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
We started out the trading day in decent shape, but Covid-19 realities appear to be re-establishing themselves in stock market activity. While the Dow, S&P 500 and Russell 2000 dropped by 0.3-0.9% today, the tech-heavy Nasdaq eked out a +0.64% trading day. The Dow is now on a three-day losing streak, having given back all of its October gains and is now 7% off its all-time highs.
The Nasdaq, on the other hand, is up in three of the past four sessions, on the strength of those old “shelter in place” plays: Zoom Video (ZM - Free Report) , Facebook and Netflix (NFLX - Free Report) all performed well on the day. It, along with the S&P 500, remain 5% off their highs established in August. Industrials and Financials were both down roughly 2% on the day.
Nasdaq component and Zacks Rank #2 (Buy)-rated Microsoft (MSFT - Free Report) has posted a strong earnings beat in its fiscal Q1 report released after Tuesday’s closing bell: $1.83 per share was well out in from of the $1.53 in the Zacks consensus, and even further out in front of the $1.38 per share reported in the year-ago quarter. Revenues of $37.2 billion outperformed the $35.7 billion expected, partly on the company’s Intelligent Cloud better-than-expected $13 billion reported for the quarter.
Microsoft’s shares are up marginally on the news, and +35% year to date. The company has not posted an earnings miss since fiscal Q2 2016, with a trailing four-quarter average earnings beat of 10%. Details will be forthcoming in the conference call, including guidance. The Zacks consensus for fiscal Q2 is $1.59 per share, $6.36 per share for the full year.
The company is the latest of the major tech firms to report quarterly earnings. Last week, Netflix put up disappointing numbers on lower-than-expected net subscriber adds. The remainder of this week brings us results from Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Alphabet (GOOGL - Free Report) and Facebook , among many others.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Microsoft (MSFT) Posts Strong Q1 Earnings Beat
We started out the trading day in decent shape, but Covid-19 realities appear to be re-establishing themselves in stock market activity. While the Dow, S&P 500 and Russell 2000 dropped by 0.3-0.9% today, the tech-heavy Nasdaq eked out a +0.64% trading day. The Dow is now on a three-day losing streak, having given back all of its October gains and is now 7% off its all-time highs.
The Nasdaq, on the other hand, is up in three of the past four sessions, on the strength of those old “shelter in place” plays: Zoom Video (ZM - Free Report) , Facebook and Netflix (NFLX - Free Report) all performed well on the day. It, along with the S&P 500, remain 5% off their highs established in August. Industrials and Financials were both down roughly 2% on the day.
Nasdaq component and Zacks Rank #2 (Buy)-rated Microsoft (MSFT - Free Report) has posted a strong earnings beat in its fiscal Q1 report released after Tuesday’s closing bell: $1.83 per share was well out in from of the $1.53 in the Zacks consensus, and even further out in front of the $1.38 per share reported in the year-ago quarter. Revenues of $37.2 billion outperformed the $35.7 billion expected, partly on the company’s Intelligent Cloud better-than-expected $13 billion reported for the quarter.
Microsoft’s shares are up marginally on the news, and +35% year to date. The company has not posted an earnings miss since fiscal Q2 2016, with a trailing four-quarter average earnings beat of 10%. Details will be forthcoming in the conference call, including guidance. The Zacks consensus for fiscal Q2 is $1.59 per share, $6.36 per share for the full year.
The company is the latest of the major tech firms to report quarterly earnings. Last week, Netflix put up disappointing numbers on lower-than-expected net subscriber adds. The remainder of this week brings us results from Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Alphabet (GOOGL - Free Report) and Facebook , among many others.
Questions or comments about this article and/or its author? Click here>>
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>