Microsoft Slides, CrowdStrike Dips, Macy's Falls After Profit Forecast
On this episode of Stock Movers:
- Microsoft (MSFT) shares slide after the Information reported that the software maker has lowered expectations for getting business customers to spend money on new artificial intelligence products. Several divisions at Microsoft have lowered quotas for how much salespeople are supposed to increase sales of certain AI products after many of them missed their targets in the fiscal year that ended in June.
- CrowdStrike (CRWD) shares dip after the software company reported its third-quarter results and provided an outlook. Analysts view annual recurring revenue (ARR) as a particular positive of the report, although they’re debating the outlook in the context of high expectations.
- Macy’s (M) shares fall after the company declined after its profit forecast for the current quarter disappointed investors, despite posting better-than-expected results. The company expects its adjusted diluted earnings per share to range between $1.35 to $1.55 in the current quarter, with Chief Executive Officer Tony Spring striking a cautious note on consumer spending.
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