Microsoft Jumps on Mulally Report, Nike’s Strong Quarter, and 3 More Hot Stocks
Microsoft Corp. (NASDAQ:MSFT): Microsoft shares are up in reaction to Kara Swisher’s report that “Ford CEO Alan Mulally has vaulted to the forefront of the candidates to become the new CEO of Microsoft.” However, Mulally told Swisher that he’s not planning on uprooting and making the move at the time being. “I continue to be focused on serving Ford … and I have my red Ford vest on right now!!” he said in an email.
Nike Inc. (NYSE:NKE): Nike shares are up more than 5 percent as the company reported earnings per share of 86 cents, beating by 8 cents, to go along with its in-line revenue and unhindered by a downgrade from Buy to Neutral from Stifel based on valuation. Global futures orders — a key indicator for top-line growth – saw gains of 8 percent, in line with last quarter’s print and above the first quarter of 2012′s 6 percent gain. Revenue growth weighed in at 8 percent.
Walt Disney Co. (NYSE:DIS): “Allowing people to pay more and not have advertising at all, I think that’s the right path long term,” said the acting CEO of Disney’s content child Hulu. Disney and its partners have defended the use of ads in Hulu Plus, which costs $7.99 per month, as they argue that it helps cover the costs of content; Netflix would likely disagree.
Qihoo 360 Technology Co. (NYSE:QIHU): The relationship between Qihoo and Sohu (NASDAQ:SOHU) has turned frosty since Sohu sold its 36.5 percent stake in the Sogou search unit to Tencent rather than to Qihoo. The tension could potentially escalate to litigation, as the two companies are now suing each other over allegations that both companies’ software is switching users’ browser preferences without permission.