By early afternoon, shares had climbed 2.6% to $41.35, slightly lower than a 52-week high of $41.47 achieved earlier in the day.
In an email to employees, Microsoft CEO Satya Nadella announced the promotion of Phil Spencer, previously head of Microsoft's game studios, to head of the Xbox division.
"Combining all our software, gaming and content assets across the Xbox team under a single leader and aligning with the OSG team will help ensure we continue to do great work across the Xbox business, and bring more of the magic of Xbox to all form factors, including tablets, PCs and phones," Nadella wrote in the note.
Additionally, Scott Guthrie, most recently head of Microsoft Azure, has been promoted to executive vice president.
Upon the close of Microsoft's deal with Nokia, former CEO of the company Stephen Elop will join Microsoft as executive vice president of Microsoft Devices Group. Nadella said the acquisition is expected to close by the end of April.
TheStreet Ratings team rates MICROSOFT CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendati,on:
"We rate MICROSOFT CORP (MSFT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."