Dow Jones futures dropped 250 points Wednesday, as Boeing and Microsoft fell on earnings. Tesla earnings are due after the close. Read More...
Reuters
Microsoft’s dour outlook raises red flags for tech sector
Microsoft Corp’s lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned its customers were cautious about spending in a turbulent economy. Microsoft, the second most valuable U.S. company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry. The company’s Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words “caution” and “cautious” at least six times on the one hour call on Tuesday.
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