MS Ticks Higher on Rumors of Strong Forecast
Reuters | at | by Mike
Microsoft Corp. shares posted their biggest percentage gain in almost two weeks on Monday, driven in part by a resurgent rumor that the software giant would give a new forecast for better-than-expected quarterly earnings. A Microsoft spokeswoman declined to comment on the market talk and analysts noted that Microsoft's rise was broadly in line with a rebound by other software companies. Shares in the world's No. 1 software maker closed up by 3.6 percent at $54.16 on Monday, their best showing since the rumor of a Microsoft pre-announcement for its fourth-quarter first surfaced on June 12. On that day, Microsoft shares gained 5.7 percent to end at $55.54, extending a rally that began in early June.