NEW YORK (TheStreet) -- Shares of Microsoft (MSFT) - Get Report were flat in pre-market trading on Tuesday as the technology company is working with the investment firm Bank of America/Merrill Lynch on a project that will speed up trade finance transactions.
The companies will build and test technology to create a blockchain-based framework that could be sold to other businesses, Microsoft said in statement this morning.
Blockchain technology is an electronic record-keeping and transaction-processing framework that allows users to track information via a secure network. The technology originates from the digital currency bitcoin, Reuters noted.
The process makes transactions faster, more reliable and easier to audit because it doesn't require manual processing or authentication through third parties, according to Reuters.
Microsoft's cloud platform, called Azure, will be used for the project.
Separately, 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 articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Microsoft as a Buy with a ratings score of B+. This is driven by several positive factors, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, notable return on equity, reasonable valuation levels and good cash flow from operations. Although no company is perfect, currently the team does not see any significant weaknesses which are likely to detract from the generally positive outlook.
You can view the full analysis from the report here: MSFT