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Wall St. Softness (Caused By Microsoft) | |
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| Time: 07:48 EST/12:48 GMT | News Source: CNN | Posted By: Julien Jay | ||
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Microsoft's forecast of weaker-than-expected earnings for fiscal 2002 appears ready to set Wall Street back a bit when trading begins Friday, especially the technology sector. A big drop in stock futures points to a sharp initial selloff for the tech-laden Nasdaq market and more moderate losses for the broader market. While Microsoft, the No. 1 maker of computer operating software, managed to beat estimates for the quarter ended last month, it said its earnings for the full year ending in June will be less than analysts have expected. The company also said it doesn't see any real improvement in the software industry in the near future. Microsoft shares gained $1.99 to $69.86 Thursday. It reported after the closing bell. | ||
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