If one normalizes earnings for the lower tax rate and "other income," the company would have missed the consensus by 2.5 cents.
By contrast, over the last year and a half, Microsoft has beaten consensus for six straight quarters by, on average, 15%.
Importantly, Windows revenue missed by about $200 million on the top line. On the other hand, deferred revenue was about $200 million above expectations.
Research In Motion Cuts
RIMM cut their forecast on shift in mix.
Soros Selling Commodities?
I have heard that Soros Management has been a large seller of commodities over the last few days.
1. the restoration of Berkshire Hathaway's reputation has commenced; and
2. the discount of Berkshire's share price to intrinsic value has reached its widest level in six months owing to the Sokol event.
Rush off to read Knowledge@Wharton's 'Lowering the Deficit: The Choices Range From Drastic to Draconian.'