The Force is with Microsoft: Shares up on winning JEDI contract

This post was originally published on this site

https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEF9R0Q7_L.jpg

Microsoft (O:) shares rise 3.4% to $145.50 premarket, after company wins the Pentagon’s $10 billion cloud computing contract.

– The Joint Enterprise Defense Infrastructure Cloud (JEDI) contract is part of a broader digital modernization of the Pentagon meant to make it technologically more agile.

– MSFT was chosen for the contract over U.S. Defense department (DoD) favorite Amazon.com Inc (O:)

– Brokerage Wedbush expects Amazon and others to challenge this decision in the courts, but ultimately this is a paradigm changer for Microsoft

– This deal adds at least $10/share to MSFT’s stock and could have significant positive financial implications for the company over the coming years – Wedbush

– Shares of Amazon fall -1.1% to $1,742.50 premarket

– As of Friday’s close, MSFT shares had gained 38.6% this year and were the second best performer on the blue-chip Dow Jones index ()

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment