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Non-Tech : Raptor's Den
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To: orkrious who wrote (5077)11/3/2002 4:30:26 PM
From: velociraptor_  Read Replies (1) of 10157
 
Not necessarily on MSFT....the news was actually released quietly on the court's website 1 1/2 hours before the market close. You can see in the intraday chart, that MSFT stock started to rally at that point. Much of the "news" may already be factored in. In fact, there were over 6 million shares traded in just the last 30 minutes. Besides that, after hours is not a liquid market so it's easier to exagerrate a move. Even if it gaps, I would not be surprised if it doesn't hold for the day, and I bet it will be down to the 50-51 level by the end of the week. MSFT also has an implied target of about 55, so a tag and decline from there is the ideal path.

Aside from that, the court decision changes nothing from what is currently in place. The sanctions against MSFT are already in place and the news simply stated that all provisons were accepted and no new ones were to be implemented. It's net neutral news. It also means nothing to most other stocks.
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