Microsoft (MSFT) Recap: Stock Surges $1.27 on Positive Investment Sentiment
Tech giant Microsoft (NASDAQ:MSFT) helped propel the Nasdaq to 11-year highs this week. Investors are finally unlocking the real value long time range-bound shares of Microsoft.
On Monday, Atlantic Equities upgraded Microsoft based on a powerful product cycle, a recovering PC market, margin expansion, and its cloud computing position. Price target raised to $36 from $30. Also, Microsoft (NASDAQ:MSFT) confirmed that it has developed prototype laptops incorporating Kinect sensors as it works to integrate its motion-sensing technology into more products, according to The Daily.
Tuesday, one of Microsoft’s big investments, Facebook, widened its lead in the online display advertising market as its share of the U.S. grew to 27.9% in 2011, up from 21% in 2010, according to research firm comScore Inc. (NASDAQ:SCOR), reports the Wall Street Journal. Facebook’s nearest competitor, Yahoo (NASDAQ:YHOO), had 11% of the display ad market, up from 10.9% in 2010.
On Wednesday, Microsoft (NASDAQ:MSFT) said it will announce plans to reduce 60 divisions down to seven, which will include significant layoffs, ABC’s KOMO-TV reported. Microsoft will eliminate redundancies in its marketing division, ABC added.
Thursday, Microsoft (NASDAQ:MSFT) cut about 200 employees as it restructured its marketing operations to streamline job responsibilities and eliminate duplications, reported the Wall Street Journal.
Friday, it was revealed Microsoft (NASDAQ:MSFT) may reveal Halo 4 at a Spring Showcase in San Francisco on February 29, Business Insider reports, citing rumors from IGN.
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