Technology stocks are higher with shares of technology companies
in the S&P 500 about rising about 0.7%.
In company news, Microsoft Corp. (
) is up 6.6% at near $34.50, climbing as much as 8.7% today after
CEO Steve Ballmer said he would retire within the next 12 months
once a successor is identified and hired.
The MSFT board has appointed a special committee, which includes
co-founder Bill Gates, to work with executive head-hunters Heidrick
& Struggles International Inc (
) on finding a new CEO.
The upcoming move comes as MSFT works to transition from its
roots as a software firm into a devices and services company.
Ballmer said his original timetable would have had him retiring
mid-way through that change-over but he changed his timing in order
to find a chief executive "who will be here longer term for this
In other sector news,
(+) ADSK, (+9.5%, has hit fresh 52 week highs) Non-GAAP earnings
of $0.45 per share beat the Capital IQ consensus by $0.03. Revenue
falls 1% from last year to $562 mln but still tops Street view by
$1.44 mln. Sees Q3 EPS, revenue trailing estimates by $0.10 and
$25.9 mln, respectively.
(-) P, (-11.6%) Expects to earn between $0.03 to $0.06 per
share, ex items, in Q3, lag Thomson Reuters consensus by at least
$0.02. Issues in-line EPS guidance for 12 months ending in January.
Q2 EPS of $0.04, ex items, on 55% rise in revenue both top
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