NEW YORK (TheStreet) -- Microsoft Corp. (MSFT) and SAP AG (SAP) have announced an extension on their 10 year partnership in order to "deliver new solutions that are intended to help improve employee productivity, enhance work force mobility and drive increased business value for customers and partners," Microsoft said.
Microsoft noted that the companies are looking to expand their partnership in three key areas, enterprise cloud computing with business-critical SAP applications certification for Microsoft Azure, improved interoperability between data from SAP applications and Microsoft office and mobile productivity with expanded development and support for Windows and Windows Phone 8.1.
Separately, Microsoft will be holding a press event tomorrow, May 20, 2014 and Bloomberg believes the company will be unveiling a smaller version of its Surface Pro tablet at the event.
Shares of Microsoft are down -0.46% to $36.65 on Monday.
TheStreet Ratings team rates MICROSOFT CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"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 largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."