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Upgrades Juice Microsoft | |
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||
| Time: 14:38 EST/19:38 GMT | News Source: Wall Street Journal | Posted By: Andre Da Costa | ||
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Shares of Microsoft Corp. are among the day’s leaders, as the computer giant is the most actively traded on the Nasdaq Stock Market (behind the Nasdaq-100 tracking ETF), gaining 5.7%, after an upgrade from researcher Davenport & Co. Davenport analysts cited improving PC demand in the U.S. and China and the potential for inventory restocking in Europe for its more optimistic estimate of Microsoft’s next few quarters. The company raised its estimate of Microsoft’s fiscal 2009 earnings per share to $1.75 from $1.70, and also boosted revenue estimates for the next two years. | ||
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