Stock Update: Microsoft Corporation (NYSE:MSFT) – Hundreds of Chinese workers protest after Microsoft Nokia deal

Microsoft Corporation (NYSE:MSFT) [Reuters] – DONGGUAN, China, Nov 20 (Reuters) – Hundreds of workers shouted slogans on Wednesday outside a Nokia factory in southern China to protest against what they called unfair compensation after the company sold its mobile telephones business to Microsoft Corp. Lack of trust in employers has often led Chinese workers to balk at takeovers they fear will harm employment conditions. Workers massed outside the factory gates in the industrial city of Dongguan said they were battling new contracts worsening employment terms that they had been forced to sign after the U.S. software giant bought Nokia’s unit in a September deal. About 30 police officers kept watch as workers clad in white Nokia uniforms held up banners with the slogans “Legally protect our rights” and “Demand fair compensation.”
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Microsoft Corporation (MSFT), with a current market cap of $310.90B, started the session at $36.92.
A quick look at the market, the company’s traded between $36.86 to $37.28 with a trailing 52-week range being $26.26 to $38.22.
MSFT shares are currently priced at 13.76x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -21.67x earnings multiple.
And for passive income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 3.00%.
According to a consensus of 28 analysts, the earnings estimate of $0.69 per share would be $0.07 worse than the year-ago quarter and a $0.08 sequential decrease. Investors should also note that the full-year EPS estimate of $2.67 is a $0.02 better when compared to the previous year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.67 Billion. If realized, that would be a 10.30% increase over the year-ago quarter.
In terms of ratings, Stifel downgraded MSFT from Buy to Hold (Aug 13, 2013). Previously, Standpoint Research downgraded MSFT from Buy to Hold.
Investors should keep in mind is that the average price target is $35.94, which is 2.65% below where the stock opened this morning.
Microsoft Corporation (NYSE:MSFT), develops, licenses and supports software, services and hardware devices worldwide. Its is most well known for it’s many Microsoft Operating System, numerous Office Programs, Bing and the various Xbox gaming systems.
Tag Helper ~ Stock Code: MSFT | Common Company name: Microsoft | Full Company name: Microsoft Corporation (NYSE:MSFT) .

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