MSFT AMZN hit pre Open
Before the Bell-Microsoft, Amazon.com hit after earnings
Friday July 23, 7:58 am ET
(Adds Electronic Arts)
NEW YORK, July 23 (Reuters) - Shares of Microsoft Corp. (NasdaqNM:MSFT - News) fell about 2 percent in pre-open trading on Friday after it forecast weaker-than-expected profit in the current business year as long-term corporate contracts expire and investment income slows.
Microsoft, which said late on Thursday that its quarterly earnings rose 81 percent, fell to $28.30 on the INET electronic brokerage system from $29 at its Thursday close on Nasdaq.
Amazon.com Inc. (NasdaqNM:AMZN - News) also tumbled after it posted a quarterly profit below Wall Street forecasts late Thursday. The Web's largest retailer also vowed to continue free shipping incentives.
Its shares fell 6 percent to $42.95 in pre-open trading from $45.82 at its Nasdaq close on Thursday.
Electronic Arts Inc. (NasdaqNM:ERTS - News) also fell after it beat Wall Street estimates for its June quarter but failed to raise full-year forecasts by a similar amount.
Shares of the world's No. 1 video game publisher, which said on Thursday that strong demand in the United States and Europe for new titles boosted its fiscal first quarter profit, dropped more than 3 percent to $50.73 from $52.65 at its prior Nasdaq close.
Pennies not a zero sum game as much as some zero game.
AI
