On Tuesday, Shares of Microsoft Corporation (NASDAQ:MSFT), gained 0.77% to $47.28.
Microsoft Corporation, posted its largest-ever quarterly loss, hurt by a $7.5 billion writedown related to its flopped purchase of Nokia’s handset unit.
The net loss in the fourth quarter, which ended June 30, amounted to $3.2 billion, and revenue fell 5.1 percent to $22.2 billion, Microsoft said Tuesday in a statement. Not taking into account the Nokia charge and costs related to job cuts, profit was 62 cents a share. Analysts on average projected profit of 58 cents on sales of $22 billion, according to data compiled by Bloomberg.
While revenue from Microsoft’s cloud-computing business rose on growth in the Azure and Office 365 programs, sales of Windows to PC makers and corporate customers sagged. The writedown was an acknowledgment that the Nokia deal had lost almost all its value after failing to rescue the company’s smartphone business. In response, Chief Executive Officer Satya Nadella declared 7,800 job cuts and a narrower focus in mobile. Bloomberg Reports.
Microsoft Corporation develops, licenses, markets, and supports software, services, and devices worldwide. The company’s Devices and Consumer (D&C) Licensing segment licenses Windows operating system and related software; Microsoft Office for consumers; and Windows Phone operating system.
Shares of Arch Coal Inc. (NYSE:ACI), inclined 9.09% to $0.24, during its last trading session, hitting its lowest level.
Arch Coal, declared the receipt of required consents in connection with its pending private offer to exchange new 6.25% Trust Certificates due 2021 and a cash payment for any and all of its outstanding 7.25% Senior Notes due 2020. In conjunction with the 2020 Exchange Offer, Arch solicited consents from holders of 2020 Notes to the adoption of projected amendments to the indenture governing the 2020 Notes to modify certain restrictive covenants contained in such indenture to conform to Arch’s other indentures, counting with respect to the issuance of additional secured debt. Arch has received consents to the Projected Amendments from holders of greater than a majority of the outstanding aggregate principal amount of 2020 Notes. The supplemental indenture to the indenture governing the 2020 Notes has been executed, however the provisions thereof will not be operative until all of the 2020 Notes that have been tendered preceding to the date of the supplemental indenture have been accepted for exchange and exchanged in accordance with the terms of the 2020 Exchange Offer.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
Finally, Eldorado Gold Corporation (NYSE:EGO), ended its last trade with 1.55% gain, and closed at $3.27, hitting its lowest level.
Eldorado Gold Corporation will release its Q2 2015 Financial Results after the market closes on Thursday July 30, 2015. Paul Wright , Chief Executive Officer of the Company, will host a conference call on Friday July 31, 2015 at 8:30 AM PT (11:30 AM ET).
Eldorado Gold Corporation, together with its auxiliaries, engages in the exploration, discovery, development, production, and reclamation of gold properties, primarily in Brazil, China, Greece, Turkey, and Romania. It also explores for iron, silver, lead, zinc, and copper ores.
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