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US stocks drop as gloomy earnings reports from Big Tech and others roll in
12 days ago - By Business Insider
Spencer Platt/Getty Images
US stocks fell Wednesday as investors assess more earnings reports from Corporate America.
Microsoft cut revenue guidance and Boeing posted a quarterly loss.
Tesla's earnings are on tap later Wednesday.
US stocks fell Wednesday as investors received disappointing financial updates from Boeing and Microsoft , underscoring concerns about how companies are faring through macroeconomic headwinds and supply chain snarls. All three of Wall Street's major equity indexes were in the red, led by losses in the tech-concentrated Nasdaq Composite. Microsoft shares were under...
Read more ...Microsoft puts out gloomy guidance on revenue in another sign of pain for techs
12 days ago - By Business Insider
A Microsoft office building in Bellevue, Washington. SOPA Images / Contributor/ Getty Images
Microsoft cuts it outlook across its key divisions as it warned of cautious client spending.
A patchy outlook helped give up gains realized after reporting above-expectation gains in Azure.
Tech giants continue to contest with a depressed economic environment that suppresses revenues.
Microsoft has cut its outlook for revenue in the current quarter, as growth in its cloud business slows and its enterprise software division falters. The downbeat third-quarter forecast, delivered during an earnings...
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