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Microsoft Corp (MSFT.O)

MSFT.O on Nasdaq

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28 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Moody's reviews Microsoft's AAA rating for downgrade
Monday, 13 Jun 2016 02:13pm EDT 

Moody's: Moody's reviews Microsoft's AAA rating for downgrade following announced acquisition of LinkedIn . Review will focus on strategic fit, monetization opportunities of LinkedIn with Microsoft's software offerings . Review to also consider Microsoft's plan to reduce, sustain gross leverage at or below 1.5 times while maintaining significant net cash position .Potential downgrade of Microsoft would likely be limited to one notch.  Full Article

Microsoft says Xbox One S to start at $299; Cortana coming to Xbox One
Monday, 13 Jun 2016 02:04pm EDT 

Microsoft Corp : 500GB Xbox One S is $299/249 pounds/299 euros . 1TB Xbox One S is $349/299 pounds/349 euros . Limited launch edition 2TB Xbox One S will be available in select markets for $399/349 pounds/399 euros . New Xbox wireless controller will be available worldwide starting in August for $59.99/49.99 pounds/59.99 euros . Announces "Project Scorpio"; coming holiday 2017, "Project Scorpio" will be "most powerful console ever created" with 6 teraflops of GPU . Xbox One S available for preorder beginning Monday and in stores starting August 2016 . Launches new Xbox wireless controller with added bluetooth radio . Announces 'Xbox Design Lab' for fans to create their own official, "one-of-a-kind" Xbox wireless controllers . Xbox Design Lab is open for orders now in U.S., Canada and Puerto Rico for $79.99 . Bringing digital assistant Cortana to Xbox One . Cortana will initially launch on Xbox One in U.S. and U.K. with additional markets coming soon after . Launches Xbox Elite wireless controller - "Gears Of War 4" Limited Edition . Enabling language region independence to give gamers more control over xbox experience . Xbox Elite wireless controller available in "very limited quantities" in early October for $199.99/199.99 euros/159.99 pounds.  Full Article

Microsoft CEO On CNBC - Started LinkedIn deal talks in earnest from February 2016
Monday, 13 Jun 2016 11:17am EDT 

: Microsoft CEO On CNBC - Started deal talks in earnest from February 2016 ((Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780)).  Full Article

Microsoft sees $150 mln of cost synergies annually by 2018 from LinkedIn deal
Monday, 13 Jun 2016 09:24am EDT 

Microsoft Corp : Sees $150 mln of cost synergies annually by 2018 from LinkedIn deal - SEC filing . Under agreement, LinkedIn may not solicit competing proposals or participate in any discussions or negotiations regarding alternative deals Further company coverage: [MSFT.O] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

LinkedIn will pay Microsoft $725 mln upon merger termination
Monday, 13 Jun 2016 08:53am EDT 

LinkedIn Corp :Upon termination of merger agreement under some circumstances, co will be required to pay Microsoft termination fee of $725 million - SEC filing.  Full Article

Microsoft to buy LinkedIn for $26.2 bln
Monday, 13 Jun 2016 08:41am EDT 

Microsoft Corp : Microsoft to acquire LinkedIn . Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion . Jeff Weiner will remain CEO of LinkedIn . Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Jeff Weiner "fully support" this transaction . Transaction is expected to close this calendar year - blog . "LinkedIn will retain its distinct brand, culture and independence" . Microsoft says transaction has been unanimously approved by the boards of directors of both LinkedIn and Microsoft . Will finance the transaction primarily through the issuance of new indebtedness . Reiterated its intention to complete its existing $40 billion share repurchase authorization by Dec 31, 2016 . Morgan Stanley is acting as exclusive financial advisor to Microsoft, and Simpson Thacher & Bartlett LLP is acting as legal advisor . Expects deal to have minimal dilution of about 1 percent to non-GAAP earnings per share for remainder of fy 2017 post-closing, for FY 2018 . Deal to become accretive to Microsoft’s non-GAAP earnings per share in Microsoft’s fiscal year 2019 or less than two years post-closing . Qatalyst partners and Allen & Company LLC are acting as financial advisors to LinkedIn.  Full Article

Microsoft launches its Microsoft Online Store with Tata CLiQ
Monday, 13 Jun 2016 06:00am EDT 

Microsoft Corp : Microsoft Online store launches with Tata CLiQ to strengthen e-Commerce presence in India . Launch of Microsoft online store with Tata CLiQ to sell Microsoft products through e-Commerce chain's phygital model .  Full Article

Microsoft says Dona Sarkar is new head of Windows Insider program - Blog
Wednesday, 1 Jun 2016 01:39pm EDT 

: Dona Sarkar Is New Head Of Windows Insider Program - Microsoft Blog . Dona Sarkar Replaces Gabe Aul, Who Will Lead Windows Engineering Systems Team That Oversees Tools And Systems For Windows Engineers - Microsoft Blog Source (http://bit.ly/1sq2Wsa) Further company coverage: [MSFT.O] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Microsoft to streamline smartphone hardware business, cut up to 1,850 jobs
Wednesday, 25 May 2016 05:00am EDT 

Microsoft Corp : Announced plans to streamline company's smartphone hardware business, which will impact up to 1,850 jobs . Company will record an impairment and restructuring charge of approximately $950 million . Approximately $200 million will relate to severance payments . Anticipates this will result in reduction of up to 1,350 jobs at Microsoft Mobile Oy in Finland . Employees working for Microsoft Oy, a separate Microsoft sales subsidiary based in Espoo, are not in scope for planned reductions . Will record a charge in Q4 of fiscal 2016 for impairment of assets in its more personal computing segment . Actions associated with announcement are expected to be substantially complete by end of calendar year .Actions associated with announcement are expected to be fully completed by July 2017 , end of company's next fiscal year.  Full Article

Finland's Kone picks CFO from Microsoft's phones unit
Tuesday, 24 May 2016 08:04am EDT 

Kone Oyj : says appoints Ilkka Hara as CFO and member of the executive board . appointment follows Eriikka Soderstrom's decision to leave Kone at the end of July . Hara joins Kone from Microsoft, where he has served as General Manager and CFO for the Phones Business, previous roles at Nokia Further company coverage: [KNEBV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

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Microsoft to cut 2,850 more jobs

Microsoft Corp said it would cut about 2,850 more jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce.