Microsoft (MSFT) Stock Rallies, Pulls Plug on Chinese Web Portal
NEW YORK (TheStreet) -- Microsoft (MSFT) - Get Report shares are increasing 0.92% to $50.53 on Tuesday as the tech giant looks to shut down its China web portal on June 7, Reuters reports.
The portal delivers web search services, news and lifestyle information.
Despite the decision, the company said it was still "deeply committed to China," but is focusing more on promoting software and services for Windows 10.
Looking ahead, the company will continue to invest in other businesses in China and keep its R&D operations there.
This comes as Microsoft is currently under investigation by Chinese antitrust regulators, according to the Wall Street Journal, which added that authorities have been cracking down on various tech companies in the country.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B+.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: MSFT
