Microsoft shares plunge after poor results, analyst downgrades

A variety of logos hover above the Microsoft booth on the opening day of the Consumer Electronics Show in Las Vegas(Reuters) – Microsoft Corp shares fell 9 percent in early trading, a day after the software company posted dismal quarterly results due to weak demand for PCs and disappointing sales of its Surface tablets. Brokerages Raymond James and Cowen & Co cut their ratings on Microsoft stock by a notch to "market perform" and at least five others trimmed their price targets by as much as $ 3. Price targets were cut as low as $ 35, below Thursday's closing price of $ 35.44. The shares fell to $ 32.00 on the Nasdaq. …


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