Tech Giants Microsoft and Google Disappoint: Morning Buzzers
U.S. stock futures were down slightly this morning but have remained mostly steady in the face of disappointing earnings results from tech giants Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOG). The market has mostly been able to hang on to gains made yesterday after positive earnings from Morgan Stanley (NYSE:MS) and reassurances from Federal Reserve Chairman Ben Bernanke that the Fed will not end stimulus until the economy has recovered.
Futures at 8:30 a.m.: DJIA: -0.16%, S&P 500: -0.05%, NASDAQ: -0.08%
Here’s your cheat sheet to the stories buzzing this morning:
Microsoft (NASDAQ:MSFT) posted disappointing earnings yesterday, a sign that the slump in PC sales has caught up with the company. Microsoft suffered a $900 million charge for unsold Surface tablets, showing that the company has not been able to successfully transition to mobile computing as of yet. The company earned 59 cents per share, falling short of analyst estimates that expected earnings of 75 cents per share.