Expect big acts for the media and entertainment industry next year: big deals, bigger convergence, biggest mobile universe. Julia Boorstin shares her insights.» Read More
US stocks followed technology shares to push higher Friday after a week of uncertainty, shaking off record-high oil, a federal probe into the nation's largest mortgage lender and another batch of disappointing earnings reports.
Ending at highs for the week, with both the Dow and the S&P up more than 2% for the week; Nasdaq up nearly 3%. Techs up on Microsoft; energy stocks up on oil, Kerkorian's partial bid for Tesoro, and a belief that global growth will remain strong and not diminish demand for oil; and thrifts up on Countrywide.
Where can the traders be found this week? Deep in the heart of techs.
With positive comments from Microsoft and Countrywide today, it's time to step back and take a slightly broader view of the markets. The S&P is up 7% this year (and 3% from its historic high).
Microsoft shares soared to a six-year high Friday, after issuing a muscular first-quarter earnings report and raising its full-year earnings guidance the day before.
Two bellweathers in their respective industry have come out with surprisingly bullish commentary, and both have moved the markets. Microsoft's commentary have propelled the perpetual tech laggard to five year highs; to move a $300 billion market cap stock by 12% pre-open is a very rare occurrence.
Microsoft posted a rise in quarterly profit, boosted by healthy demand for personal computers loaded with its Windows operating system and strong sales of its "Halo 3" video game.
A big question ahead of Friday trading is whether the "halo" around Microsoft's first quarter and other strong earnings reports will provide enough momentum to overpower the dark fears stalking credit and the financial sector.
The news of the day was oil reaching a new record closing the U.S. session at more than $90 a barrel. And then, just a couple of hours later in Asia's Friday morning session, oil pushed past $91 a barrel. Some analysts are wondering how long before we see triple digits on oil and what is driving the prices sky high.
As Microsoft buys a $240 million stake in Facebook and AT&T reportedly is considering a purchase of a satellite TV company, what is the trade as the old “new” media meets the new “new” media?
Facebook, the social network Web site, is looking to hedge funds and private-equity investors to raise an additional $260 million in financing, the Wall Street Journal reported on its Web site on Thursday.
It's not often I do a double-take when I read a financial earnings report, but I had to make sure I was looking at Microsoft's numbers and not some other company's. The company beats by 6 cents a share; 45 cents instead of the 39 cents the Street was expecting.
Another late-day rally, this one not quite as robust as the last few days, but still the Dow was at 13,550 at 2 PM ET, so we rallied almost 125 points from that low to close at 13,671.
Stocks finished near even Thursday as Wall Street endured another topsy-turvy session, with rumors – of more subprime trouble and a Fed rate cut – proving just as influential on the markets as a handful of economic and earnings reports.
It's safe to say that Microsoft hasn't had this kind of optimism swirling around it in, well, I can't remember the last time. Windows '95 maybe? This company is firing on all cylinders, even though shares would suggest otherwise. The company will report its first fiscal quarter earnings after the bell, and feeding into the frenzy are headlines about Halo 3, Xbox 360...
We've heard the Google, Microsoft, Facebook 'story' before, but today's rendition comes with a new sense of urgency: The New York Post, then moments later the Wall Street Journal, report a deal between someone and Facebook is imminent: 24 or 48 hours away.
Japan's Nintendo nearly tripled its first-half profit and boosted its annual earnings outlook on Thursday as its popular Wii and DS game machines outsell rival Sony's PlayStation.
We now have a definitive agreement: Microsoft gets a stake in Facebook for $240 million, and now valuing the company at $15 billion. For a company that will do $30 million in profits on $150 million in revenue, that's a nifty valuation!
After much negotiation, and a tussle with Google, Microsoft snagged a new deal with Facebook. MSFT already handles Facebook's ad sales in the U.S., for the next few years at least. This extends the contract to Facebook's international business--already over half its ad business is overseas, and this is the area that has the biggest growth potential.
What should investors expect from Google’s analyst meeting on Wednesday? Martin Pyykkonen, Global Crown Capital senior media and Internet analyst, joined “Squawk Box” to offer his insights.