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BEHIND THE MONEY: Searching for a Reason for Microsoft's Surge? Try 'Bing'
BEHIND THE MONEY: Searching for a Reason for Microsoft's Surge? Try 'Bing'
Bing, the new search engine from Microsoft [MSFT
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], has been a running joke on the show. But our many mentions of the site have only been partly tongue in cheek. Bing's success has actually been very real, with the search engine picking up notable market share in its infancy. Figures from ComScore this week showed Microsoft's "Average Daily Search Penetration" at 16.7 percent last week. (Granted, it has been accompanied by a $100 million marketing campaign.)
Microsoft shares are up a whopping 39% in the last 3 months, trouncing the whole market and the rest of tech. We kept highlighting this move on the show and FM trader Joe Terranova has been a vocal buyer of the stock. Goldman Sachs put the stock on its "conviction buy list" today.
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CNBC.com |
Bing has removed the "when are they going to buy Yahoo? [YHOO
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]"-overhang on the stock. Not to mention, it's made Google [GOOG
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] look not so invincible (I now use "Bing" as a verb around the office). Investors and analysts are also getting optimistic about the release of Windows 7 later this year. After the Windows Vista disappointment, analysts are expecting CEO Ballmer to get this operating system right this time.
John Melloy is the Senior Editorial Producer for Fast Money. Before joining CNBC, he was an editor for Bloomberg News, overseeing the U.S. Stock Market coverage team.______________________________________________________
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