“Microsoft shares dropped 5.5 percent in mid-session trading
Wednesday after influential analyst Rick Sherlund cut his revenue
estimate for the software giant on expectations that PC sales were
slower than anticipated.”
“Sherlund cut his first-quarter sales outlook to $5.75 billion
from $5.95 billion, which would translate into trimming the
per-share earnings outlook by 2 cents.”
“Microsoft’s stock (MSFT…) accelerated its losses
following the news, surrendering 4 5/8 to 79 1/4 on volume of more
than 43 million. The issue isn’t much above its 52-week low of
75 1/2, set last May 25.”