- 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.
Algonquin Power Earlier Reported Q3 EPS $0.11 Misses $0.17 Estimate, Sales $666.70M Beat $594.76M Estimate
Algonquin Power (NYSE: AQN) reported quarterly earnings of $0.11 per share which missed the analyst consensus estimate of $0.17 by 35.29 percent.
