Microsoft

Sector Update: Tech Stocks Rise Premarket Thursday

Technology stocks were rising premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 3.1% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3%.Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.Meta Platforms (META) stock was down more than 9% after the company posted a decline in Q2 earnings, missing analysts' expectations.Check Point Software Technologies (CHKP) shares were down more than 11% after the company reported Q2 revenue below analysts' expectations.

Update: US Equity Futures Rise Pre-Bell Amid Latest Big Tech Earnings, Fed Rate Decision

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as traders took note of the Federal Reserve's decision to leave interest rates unchanged, as well as the latest round of earnings from major tech players Microsoft (MSFT) and Meta Platforms (META).Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.5% higher.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.Late Wednesday, Microsoft reported higher fiscal Q4 adjusted earnings and revenue, while Meta posted a decline in earnings and higher revenue for Q2.Apple (AAPL) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.89 per share on revenue of $109.04 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $87.12 per barrel and US West Texas Intermediate crude 0.8% lower at $83.80 per barrel.The June core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, slowed to 0.1% from a pace of 0.3% in the prior month and the expected 0.2% increase in estimates compiled by Bloomberg.Initial jobless claims rose to 197,000 in the week ended July 25 from an upwardly revised 188,000 level in the previous week, compared with expectations for an increase to 200,000. Q2 GDP growth was recorded at a 1.5% annual rate, compared with expectations for 2%.In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Microsoft shares rose 9% after the company's fiscal Q4 results topped expectations, driven by a revenue surge in cloud computing platform Azure. Lam Research (LRCX) stock was up 13% after the company posted better-than-expected fiscal Q4 adjusted earnings and revenue, as well as issued Q1 guidance that surpassed analysts' consensus. Arm (ARM) shares were 11% higher after the company reported a fiscal Q1 beat for adjusted earnings and revenue. Starbucks (SBUX) stock was up 4.4% after the company's fiscal Q3 adjusted earnings and revenue surpassed expectations and its fiscal 2026 adjusted EPS outlook was boosted.On the losing side, Meta stock was down nearly 10% after the company's Q2 earnings fell short of consensus estimates. Qualcomm (QCOM) shares fell 3.1% after the company reported lower fiscal Q3 adjusted earnings and revenue.

Sector Update: Tech

Technology stocks were rising premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 2.9% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 3.5%.Microsoft (MSFT) shares were up more than 9% after the company reported higher fiscal Q4 adjusted earnings and revenue.

US Equity Futures Rise Pre-Bell Amid Latest Big Tech Earnings, Fed Rate Decision

US equity futures were higher pre-bell Thursday as traders took note of the Federal Reserve's decision to leave interest rates unchanged, as well as the latest round of earnings from major tech players Microsoft (MSFT) and Meta Platforms (META).Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 1.4% higher.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.Late Wednesday, Microsoft reported higher fiscal Q4 adjusted earnings and revenue, while Meta posted a decline in earnings and higher revenue for Q2.Apple (AAPL) is expected to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.89 per share on revenue of $109.04 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.2% at $87.06 per barrel and US West Texas Intermediate crude 1.2% lower at $83.41 per barrel.The June core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.2%, compared with the prior month's gain of 0.3%, according to estimates compiled by Bloomberg.Initial jobless claims are projected to have increased to 200,000 in the week ended July 25 from 187,000 in the previous week. The advance estimate for Q2 GDP is seen coming in at 2.0%, down from 2.1% in the previous quarter.

Earnings Flash (MSFT) Microsoft Posts Fiscal Q4 Revenue $90B, vs. FactSet Est of $87.62B

Earnings Flash (MSFT) Microsoft Posts Fiscal Q4 Revenue $90B, vs. FactSet Est of $87.62B

Update: US Equity Indexes Slide as Fed on Pause for Fifth Meeting; Investors Await Big Tech Results Amid Mounting Middle East Tensions

(Updates with index/price moves and Federal Reserve/geopolitical news from the first paragraph.)US equity indexes sank after the Federal Reserve left interest rates unchanged and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of Big Tech quarterly results post-bell.The Dow Jones Industrial Average sank 2.2% to 51,610.9, with the Nasdaq Composite down 1.2% to 24,577.4 and the S&P 500 lower by 1.2% to 7,339.1 ahead of Wednesday's close. All sectors except energy, communication services, and consumer staples declined. Industrials, financials, and utilities led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.The Fed held its policy rate steady in a divided decision, as three officials called for policy tightening. The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause. Ahead of the decision, UBS Securities projected three dissenting votes as a base case. The committee reiterated its pledge to "deliver price stability" as inflation remained above the 2% target amid supply shocks.President Donald Trump said Iran will be hit hard, according to Fox News, after the US Central Command joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields were mixed, with the 10-year up 5.3 basis points to 4.66% while the two-year dropped 4.6 basis points to 4.23%.

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 3.3%.The Philadelphia Semiconductor index dropped 3.7%.In corporate news, Microsoft-backed (MSFT) OpenAI's ChatGPT is nearing 1 billion weekly active users, The Information reported. OpenAI originally targeted to hit the milestone by the end of last year, the report said. Microsoft shares were up 0.5%.Vertiv (VRT) shares fell nearly 17% after the company's Q2 revenue increased year on year but missed analysts' estimates.Alphabet's (GOOGL) Google DeepMind has dismantled the team behind its Nobel Prize-winning AlphaFold AI system, reassigning most researchers to Gemini-related projects and other scientific initiatives as it shifts its research strategy, the Financial Times reported. Alphabet shares added 0.7%.Cognizant Technology Solutions (CTSH) shares jumped 12% after it reported higher Q2 adjusted earnings and revenue.

Sector Update: Tech

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.1%.The Philadelphia Semiconductor index shed 0.7%.In corporate news, Microsoft-backed (MSFT) OpenAI's ChatGPT is nearing 1 billion weekly active users, The Information reported. OpenAI originally targeted to hit the milestone by the end of last year, the report said. Microsoft shares were up 1.3%.

Update: US Equity Indexes Slump Ahead of Fed Policy Moves, Big-Tech Results; Crude Oil Soars as Trump Vows to Hit Iran Hard

(Updates with index/price moves and Fed/company/geopolitical news from the first paragraph.)US equity indexes fell amid expectations of a tightening bias from the Federal Reserve and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of big-tech quarterly results post-bell.The Dow Jones Industrial Average declined 1.4% to 51,986.1, with the Nasdaq Composite down 0.7% to 24,697.2 and the S&P 500 lower by 0.7% to 7,376.8 after midday Wednesday. All sectors except energy, consumer staples, and consumer discretionary declined. Industrials, materials, and technology led the steepest decliners.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.Among companies with a market capitalization of more than $200 billion, eight of the 10 worst intraday performers were from the technology sector, according to data compiled by Finviz. VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.1% after midday.The Fed is likely to remain on hold at the 3.5% to 3.75% target range in its Wednesday policy announcement, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.The tightening bias may have to be communicated more subtly through a more casual or veiled tone, Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note. Alternatively, Fed Chair Kevin Warsh may have to accommodate the views of the more hawkish majority in his press conference on Wednesday by making his views more strident about promoting price stability "without delay," he said."And if that isn't enough, the more hawkish bias will spill out more forcefully in the comments and appearances by Fed officials in the days after today's FOMC meeting," Wizman said in the note. "But one way or another - including, perhaps, through dissent - the Fed's emerging tightening bias will find its way into the market today or the next few days."In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News.The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 6.8% to $84.63 a barrel, and global benchmark North Sea Brent surged 7.6% to $90.45 a barrel.US Treasury yields jumped, with the 10-year up 3.5 basis points to 4.64% and the two-year higher by 4.5 basis points to 4.32%.In precious metal markets, gold futures were steady at $4,039.2, and silver futures rose 0.8% to $57.99.

Sector Update: Tech Stocks Fall Wednesday Afternoon

Tech stocks were lower Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 3.2%.The Philadelphia Semiconductor index slumped 3.7%.In corporate news, Vertiv (VRT) shares fell past 16% after the company's Q2 revenue increased year on year but missed analysts' estimates.Taiwan Semiconductor Manufacturing (TSM) and Toyota (TM) were among manufacturers whose operations were disrupted after a powerful earthquake struck Japan's Kumamoto prefecture, Nikkei Asia reported. Taiwan Semiconductor evacuated personnel from its JASM semiconductor plant in Kumamoto after the quake triggered mandatory evacuation procedures, while some construction work at JASM's second fab was temporarily suspended as a precaution, a company spokesperson told Nikkei Asia. Taiwan Semiconductor shares fell 3.3%.Microsoft (MSFT) is facing a probe in the UK over concerns that the company may not have released clear, upfront information on changes to Microsoft 365 personal and family subscription plans, the UK's Competition and Markets Authority said Wednesday. Microsoft shares were up 0.7%.

Update: US Equity Indexes Slide Ahead of Warsh's Press Briefing, Big-Tech Results While Trump Vows to Hit Iran Hard

(Updates with index/price moves and Fed/company/geopolitical news from the first paragraph.)US equity indexes fell amid expectations of a tightening bias from the Federal Reserve and as Iran's surprise missile attack on regional neighbors escalated war tensions ahead of big-tech quarterly results post-bell.The Dow Jones Industrial Average slumped 1.6% to 51,891.2, with the Nasdaq Composite down 1.2% to 24,587.5 and the S&P 500 lower by 0.9% to 7,366.5.Microsoft (MSFT), Meta Platforms (META), Lam Research (LRCX), Arm (ARM), and Qualcomm (QCOM) will report earnings after the bell on Wednesday, and investors will focus on what these companies will say about capital expenditures related to artificial intelligence and the state of free cash flows.Among companies with a market capitalization of more than $200 billion, eight of the 10 worst intraday performers were from the technology sector, according to data compiled by Finviz. VanEck Semiconductor ETF (SMH), with net assets of $77.2 billion, slumped 3.1% after midday.The Fed is likely to remain on hold in the 3.5% to 3.75% target range in July, according to the CME FedWatch tool. However, the probability that the target rate for fed funds will increase to 4.25%-4.5% in December jumped to 17% as of Wednesday afternoon from 9% a month ago, implying a significant tightening bias among some market participants.In geopolitical news, President Donald Trump said Iran will be hit hard, according to Fox News.The US Central Command said it joined Saudi Arabian Armed Forces to conduct strikes in Iraq against Iran-aligned terrorists that the Islamic Revolutionary Guard Corps directed to attack US forces and Saudi energy infrastructure.The front-month US West Texas Intermediate jumped 7.2% to $84.93 a barrel, and global benchmark North Sea Brent surged 7.8% to $90.65 a barrel.

Top Midday Stories: Stocks Down, Oil Up as Trump Vows Strong Response to Iran Attacks; Vertiv Q2 Revenue Misses Estimates

All three major US stock indexes were down in late-morning trading Wednesday after President Trump vowed to hit Iran hard in response to recent attacks on US forces in Jordan and ahead of the Federal Reserve's decision on interest rates to be announced in the afternoon.In company news, Vertiv Holdings (VRT) reported Q2 adjusted earnings Wednesday of $1.52 per diluted share, up from $0.95 a year earlier and above the FactSet consensus analyst estimate of $1.42. Second-quarter revenue was $3.27 billion, up from $2.64 billion a year ago but below the FactSet consensus of $3.38 billion. For full-year 2026, the company expects adjusted diluted EPS of $6.65 to $6.75, above the FactSet consensus of $6.49. Vertiv said it expects Q3 adjusted diluted EPS of $1.77 to $1.83, in line with the FactSet consensus of $1.79. Vertiv shares were down 12.8% around midday.CBIZ (CBZ) agreed to be acquired by Grant Thornton Advisors in an all-cash deal with an enterprise value of $5 billion, the companies said Wednesday. Under the deal terms, CBIZ shareholders will receive $55 in cash per share, the companies said. CBIZ shares were up 16.8% around midday.The UK's Competition and Markets Authority said Wednesday it is investigating whether Microsoft (MSFT) provided pertinent information on changes to Microsoft 365 personal and family subscription plans. Microsoft shares were up 0.3%.NextEra Energy (NEE) and Brookfield (BN) are part of a strategic partnership group that will develop a data center campus at the Energy Department's Paducah Site in Kentucky for $100 billion, according to a joint statement. Big Rivers Electric Power, Jackson Purchase Energy Cooperative and Paducah Power System are also in the partnership. NextEra shares were down 0.1%, while Brookfield shares were down 2.2%.Morgan Stanley's (MS) mortgage bankers have allegedly been pressured to approve mortgages for wealthy clients despite underwriting concerns, The Wall Street Journal reported Wednesday, citing current and former employees, emails and internal documents. Morgan Stanley shares were down 3.3%.Price: $54.55, Change: $+7.85, Percent Change: +16.81%

Update: US Equity Futures Lower Pre-Bell as Middle East Hostilities Resume, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.

US Equity Futures Mixed as Middle East Hostilities Resume, Oil Prices Rise

US equity futures were mixed pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.1% at $85.43 per barrel and US West Texas Intermediate crude 4.3% higher at $82.69 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.

Social Buzz: Wallstreetbets Stocks Mostly Higher Pre-Bell Wednesday; Bloom Energy, Seagate Technology to Advance

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly higher hours before Wednesday's opening bell.Bloom Energy (BE) rose by 10% in premarket hours, swinging from an 11.3% decline at Tuesday's close. Bloom Energy posted higher Q2 adjusted earnings and revenue, and raised its 2026 outlook.Seagate Technology Holdings (STX) was up 6.4% pre-bell, after an 8.5% fall from the previous session. The company reported higher fiscal Q4 adjusted earnings and revenue.Sandisk (SNDK) advanced by 1.4% premarket, following a 14.3% decline at Tuesday's close.Micron Technology (MU) was 1% higher hours before the market open, after an 8.9% fall from the previous session.Nvidia (NVDA) was up 0.3% premarket, following a 0.3% increase at Tuesday's close.Microsoft (MSFT) advanced by 0.2% in pre-bell hours, after a 1.1% rise from Tuesday's session.SpaceX (SPCX) declined by 0.3% premarket, swinging from a 2.6% increase at Tuesday's close.Apple (AAPL) was slightly lower pre-bell, after a 0.9% increase from the previous session.

US Equity Index Futures Mixed Pre-Bell as Investors Await Microsoft/Apple's Results, Fed Policy Moves Amid Escalating Iran Tensions