Why Microsoft Stock Popped, Then Dropped, on Wednesday
Microsoft (NASDAQ: MSFT) stock was a bit of a see-saw on Wednesday, at one point rising by more than 2% over Tuesday's close before settling down to end the day 1.4% lower. The swing between Wednesday's highest and lowest share prices was 3.7%. There were understandable reasons for both the advance and the retreat; at the end of the day, though, the negative dynamics outweighed the positive for Microsoft investors.
On the plus side, investors were still basking in the glow of Tuesday morning's announcement that Microsoft is enacting a meaty dividend raise of 10%. The company, ever a cash-generating machine, has plenty of dosh to devote to the increase, so there's little to no concern that the lift will strain the finances.
The bull case for Microsoft stock was bolstered by analyst Keith Weiss of Morgan Stanley (NYSE: MS).
Source Fool.com
