There was a slew of earnings reports today. But two that matter most to me are Microsoft and Ford.
First the star of this post. Ford reported a profit of $2.3 billion, this compares to a net loss of $8.7 billion for the same period last year. I have started investing and did purchase a few shares of Ford, although not enough to make any meaningful difference in my portfolio. I'll be listening to Ford's conference call later tonight, hopefully it will be a little enlightening. Ford shares shot up some 10% on the news.
Next Microsoft. They have missed earnings estimates in a big way and the after hours trading has seen Microsoft shares take a big hit. Microsoft earned $3.045 billion, compared with $4.297 billion in the same period last year. This sent shares down some 6% in extended trading. I'm a big believer in Microsoft's long term prospects but I really didn't expect an earnings miss this bad. The good news? I'll be able to add to my position at a lower price. I'll have to listen to Microsoft's earnings call, hopefully they will be able to explain what has happening. I believe that most consumers are holding off on purchases until Windows 7 is released. Hopefully Microsoft will have a much nicer next quarter.
Ford Earnings.
Microsoft Earnings.
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