Diamonds and Dogs
The cloud is kind to old tech. Microsoft is jumping 5% to within a penny of its 52 week high following better than expected earnings. The Redmond, Wash.-based Microsoft late Tuesday posted better-than-expected results for its fiscal fourth quarter. It earned 69 cents a share, up 11% year over year, on sales of $22.64 billion, up 2%, in the quarter. Microsoft's commercial cloud businesses ended fiscal 2016 with an annualized revenue run rate of $12.1 billion. The company remains on track to reach its goal of $20 billion in fiscal year 2018.
Campbell Soup (CPB) is down 3% following earnings. With more health-conscious U.S. consumers frowning upon big packaged food companies and their processed ingredients that dominate supermarkets, Campbell's Soup (CPB) has a new plan to win their trust. Over the next twelve months, the iconic maker of Campbell's chicken noodle soup will debut a host of new soups free of artificial colors and flavors to boost sales once again.