Microsoft

(MSFT) - Get Report

was up 0.9% in preopen

Island

trading after

Goldman Sachs

lowered its earnings and revenue estimates for the software giant. Goldman, citing the string of preannouncements in the PC industry, cut its 2001earnings estimate to $1.75 from $1.78 and lowered its 2002 outlook to $1.75 from $1.86. Goldman lowered its revenue estimate for the current quarter to between $6 billion and $6.1 billion. The Street currently expects $6.2 billion.