Hot Stock Watch; Microsoft Inks Deal with Polycom Inc.
Microsoft Corp. (NASDAQ: MSFT) and Polycom Inc. (NASDAQ: PLCM) have entered into a multi-year, global strategic agreement that will see Polycom deliver integrated end-to-end unified communications. As per the agreement, Polycom seeks to develop and market standard-based United Communications solutions.
Commenting on the agreement, Gurdeep Singh Pall, corporate vice president of UC at Microsoft, said that the two companies are committed to a roadmap that will enable the delivery of interoperable UC solutions.
Last week, Microsoft also announced that it settled a patent infringement cases brought by the company before the U.S. District Court for the Western District of Washington and by Salesforce.com (NYSE: CRM) in the U.S. District Court of Delaware.
The company also won a patent lawsuit relating to its Xbox Video Game Systems. The lawsuits were filed by two inventors Peter Hochstein and Jeffrey Tennenbaum in 2004.
In October, Microsoft will launch Microsoft Office for Mac 2011. The new version will be available in more than 100 countries around the world.
The company reported its fourth-quarter results on July 22. It reported revenue of $16.04 billion, for the fourth quarter, an increase of 22% from the same period last year. The company’s operating income for the fourth quarter stood at $5.93 billion, an increase of 49% from the same period last year. It reported net income of $4.52 billion, representing an increase of 48%. The company’s diluted EPS, for the fourth quarter, stood at $0.51 per share, up 50% from the same period last year.
Since reporting the fourth-quarter financial results, shares of Microsoft gained 1.91%. Year-to-date, the performance of the Microsoft stock has been disappointing. The stock is down 16.01%, year-to-date. The stock underperformed the broader market in this period. In the same the period, Nasdaq gained 1.38% and the Dow Jones gained 2.56%.
The stock is currently trading below its 10-day and 20-day moving average and above its 50-day moving average. The stock has a support level at $25.19. If the stock falls below this level, the next support level is at $24.84. It has a resistance level at $25.73. If the stock breaches this resistance level, it faces resistance at $26.10.
Analysts, currently, have a consensus recommendation of Outperform on Microsoft . The stock has 19 Buy, 8 Outperform and 6 Hold ratings, at the moment.
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