Nasdaq futures drop 1% after Microsoft's bleak outlook

Published by

(Reuters) - Nasdaq futures fell more than 1% on Wednesday as Microsoft led declines in tech stocks after it forecast current-quarter cloud revenue below Wall Street estimates. Microsoft Corp shares fell 2.1% in premarket trading after it warned that growth in its cloud business, which helped the company meet analysts' expectations in the second quarter, could stall, while its PC unit continues to struggle. Other large growth stocks including Inc, Tesla Inc, Apple Inc and Alphabet Inc also dropped between 1% and 2%. Growth stocks have enjoyed a bounce in January after a battering las...

Read More