- Microsoft Corp (NASDAQ:MSFT) shares are trading lower Tuesday ahead of Wednesday’s April Consumer Price Index inflation report.
- Unexpectedly strong inflation data might dampen investors, particularly for tech-related equities, as it leads to higher expenses, lower pricing power, and lower consumer spending.
- Earlier on Tuesday, Microsoft’s business and employment-focused social media platform LinkedIn had to let go of 716 employees as a part of changes to its Global Business Organization (GBO) and China strategy.
- LinkedIn looks to sunset its Business Productivity team. It also plans to reduce management roles and use more vendors to “serve emerging and growth markets more effectively.
- Microsoft AI offerings could double cloud revenue, Bernstein analyst Mark Moerdler wrote on his Tuesday note.
- Microsoft’s big push into artificial intelligence software could eventually drive the company past Amazon.com Inc’s (NASDAQ:AMZN) Amazon Web Services as the leading cloud-computing company, the analyst wrote.
- Price Action: MSFT shares traded lower by 0.36% at $307.54 on the last check Tuesday.
Why Tuesday Morning Shares Tumbled 31%; Here Are 66 Biggest Movers From Yesterday
Gainers
NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) jumped 101.3% to settle at $0.5558 on Monday after the company announced a 1-for-30 reverse stock split.
