Shares of Microsoft (NASDAQ:MSFT) jumped 2.8 percent on Thursday and continued to edge higher in late afternoon hours. The company announced what many would call a reorganization, and what Steve Ballmer, chief executive officer, described as a “far-reaching realignment of the company that will enable us to innovate with greater speed, efficiency and capability in a fast changing world.” In an emailed memorandum to employees titled, “One Microsoft,” Ballmer wrote that the new direction would help the company better execute its “strategy to deliver a family of devices and services that best empower people for the activities they value most and the enterprise extensions and services that are most valuable to business.”
Verizon Communications (NYSE:VZ) and AT&T (NYSE:T) shares both gained about 1.3 percent on Thursday, despite losing a request to the French government to override a new regulation that makes dealings between wireless carriers and bandwidth providers public by forcing the companies to give semiannual reports to French regulator ARCEP. France’s Conseil d’Etat ruled that ARCEP has the power to investigate the relationship between wireless carriers and bandwidth providers.
Shares of Gap (NYSE:GPS) climbed about 1 percent higher in late afternoon trading. The retailer announced that year-over-year net sales jumped 8 percent in June. “We are pleased with our June sales results,” said Glenn Murphy, chairman and chief executive officer of Gap. “Old Navy’s performance was particularly strong.” Sales at Old Navy surged 13 percent.
Apple (NASDAQ:AAPL) shares increased 1.6 percent on Thursday and continued to attract attention in late afternoon hours. The tech giant may soon adopt a technology that could further boost the already impressive battery life of its MacBook laptop devices. According to a report from Korea IT News via Apple Insider, Apple has decided to use IGZO — or indium gallium zinc oxide — displays for its next generation of MacBooks. The anonymous insider source said the new IGZO MacBooks will be released in the first half of next year.
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