Google, DOJ Extension Weigh on Microsoft – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/19239/Google%2C+DOJ+Extension+Weigh+on+Microsoft+-+Zacks+Tale+of+the+TapePosted on Friday, April 17th, 2009 | In Market Commentary, Stocks to Watch
Microsoft Corp. (MSFT) shares opened lower a day after the software giant agreed to another 18 months of supervision under U.S. Justice Department to monitor the documentation of its licensing agreements.
Microsoft has also agreed to the 18-month extension of some portions of federal antitrust oversight in a joint filing with 17 states and the DOJ. In 2002, the world’s largest software maker had settled charges that it abused its supremacy in the market. Antitrust regulations require Microsoft to enable computer makers the liberty to use software programs made by rival companies. The court restrictions which were set to expire on Nov. 12, will now continue till May 2011.
Separately, analysts speculated that Microsoft had lost market share to Google, Inc. (GOOG) in the paid-click advertising category. On Thursday, Google said that the number of ads placed on its sites grew by 17% in the first quarter from the year-ago period. Microsoft is scheduled to report quarterly earnings on April 23.
Microsoft fell nearly 3% to $19.18 in morning trade on the New York Stock Exchange. They had touched an intraday low of $19 earlier in the session.
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