Diamonds and Dogs
Microsoft (MSFT) is up a percent not far from all-time highs following earnings. Microsoft easily beat earnings estimates as sales rose 14.6% to $35.02 billion. The company said they have seen a minimum net impact amid the coronavirus outbreak as cloud usage and demand has surged. Facebook (FB) is jumping 5% following earnings even though they experienced a reduction in ad sales during the quarter.
The price of oil is up, but not Royal Dutch Shell (RDSA). The U.K. oil giant fell 12% after slashing their dividend for the first time since World War II. The dividend was cut by two-thirds to preserve $10 billion a year in cash. The biggest U.K. dividend payer now has a yield of 3.8% down from 10%.
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