The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

  • Canopy Growth Corp Faces Decline in Shares Due to Stock Offering

  • VanEck Semiconductor ETF (NASDAQ:SMH) Stake Raised by Zimmermann Investment Management & Planning LLC

  • Experts On The Future Of Investment Apps

  • Japan warns against post-Fed yen slide

Currencies
Home›Currencies›Microsoft Drops After Q4 Warning on ‘Unfavorable’ Currency Moves

Microsoft Drops After Q4 Warning on ‘Unfavorable’ Currency Moves

By Megan
June 2, 2022
85
0
Share:
  • Microsoft shares fell Thursday after the company cut its Q4 revenue and earnings forecast.
  • The software maker cited “unfavorable” foreign exchange moves as reason for the lowered outlook. 
  • The US Dollar Index has hit 20-year highs in 2022 and has gained 13% over the past 12 months.   
Loading Something is loading.

Microsoft shares fell Thursday after the software heavyweight slashed its financial guidance because of foreign currency fluctuations, a move that comes as multinational companies flag this year’s ascent of the dollar to 20-year highs. 

The maker of Office, Excel and other software products in a PowerPoint presentation cited the “unfavorable impact of foreign exchange rate movement” as the reason for revising its fourth-quarter revenue and earnings outlook.

The stock fell as much as 4% to $261.60, a one-week low, a decline that weighed on the Dow Jones Industrial Average. 

Microsoft now sees fourth-quarter earnings of $2.24-$2.32 a share. It had previously expected $2.38-$2.35. It expects revenue of $51.94 billion to $52.74 billion, down from its previous projection of $52.40 billion to $53.20 billion. 

The warning arrived as the dollar recently hit a 20-year high against major rivals as gauged by the widely watched US Dollar Index. The greenback has marched higher as the


Federal Reserve

has signaled it will aggressively raise interest rates to combat hot inflation. The dollar index as of Thursday was up 6% for 2022 and up 13% over the past 12 months.  

The dollar’s relative strength can hurt US companies doing business overseas by making their products more expensive for holders of other currencies to purchase and lowering the value of their international sales when those are converted back to dollars. Apple, Pfizer, Facebook parent Meta Platforms, Procter & Gamble, and other large corporations have told investors their financial results may be dented by foreign exchange fluctuations. 

S&P 500 companies generate 41% of revenues outside the US, according to FactSet. 

Microsoft shares this year had dropped by 19% through Wednesday’s close, losing ground alongside a broader selloff in tech stocks that dragged the Nasdaq Composite into a


bear market

. 

The US Dollar Index measures the greenback’s performance against the euro, the Japanese yen, the British pound, the Canadian dollar, the Swedish krona, and the Swiss franc.  

The Fed is expected to deliver a rate hike of 50 basis points at its June 14-15 meeting after raising rates by 75 basis points since March.

Source link

Previous Article

Microsoft, Chewy, GameStop, MongoDB & more

Next Article

Winklevoss Twins’ Exchange Sued by U.S. Commodities ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Currencies

    Argentina’s currency crisis is so dire that it’s allowing people to open bank accounts using the Chinese yuan

    July 3, 2023
    By Megan
  • Currencies

    Robert Kiyosaki buys even more bitcoin – He warns that SEC regulations will crush most crypto-currencies

    January 1, 2023
    By Megan
  • Currencies

    The rise of the Indian rupee: Reducing dependency on foreign currencies

    April 12, 2023
    By Megan
  • Currencies

    Newcastle United no longer rely on omens, its currency and character has changed – The Irish Times

    February 25, 2023
    By Megan
  • Currencies

    Why Is the Canadian Dollar Weaker Than Other Major Currencies? USD/CAD Forecast

    August 25, 2023
    By Megan
  • Currencies

    WEMIX listed on Mercado Bitcoin, the largest exchange in Brazil that supports trading in fiat currency

    February 15, 2023
    By Megan

Leave a reply Cancel reply

You may interested

  • Stock Shares

    Bank of New York Mellon Corp disposes of 112,334 APA Co. shares (NASDAQ:APA)

  • Commodities

    ‘Climate Smart Commodities’ program deeply flawed |

  • Investment

    Is a Briggs & Stratton Standby Generator a Worthwhile Investment?

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • September 21, 2023

    Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

  • September 21, 2023

    Canopy Growth Corp Faces Decline in Shares Due to Stock Offering

  • September 21, 2023

    VanEck Semiconductor ETF (NASDAQ:SMH) Stake Raised by Zimmermann Investment Management & Planning LLC

  • September 21, 2023

    Experts On The Future Of Investment Apps

  • September 21, 2023

    Japan warns against post-Fed yen slide

Best Reviews

Latest News

Commodities

Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

“The Best Report Benzinga Has Ever Produced” Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! ...
  • Canopy Growth Corp Faces Decline in Shares Due to Stock Offering

    By Megan
    September 21, 2023
  • VanEck Semiconductor ETF (NASDAQ:SMH) Stake Raised by Zimmermann Investment Management & Planning LLC

    By Megan
    September 21, 2023
  • Experts On The Future Of Investment Apps

    By Megan
    September 21, 2023
  • Japan warns against post-Fed yen slide

    By Megan
    September 21, 2023
  • Recent

  • Popular

  • Comments

  • Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

    By Megan
    September 21, 2023
  • Canopy Growth Corp Faces Decline in Shares Due to Stock Offering

    By Megan
    September 21, 2023
  • VanEck Semiconductor ETF (NASDAQ:SMH) Stake Raised by Zimmermann Investment Management & Planning LLC

    By Megan
    September 21, 2023
  • Experts On The Future Of Investment Apps

    By Megan
    September 21, 2023
  • Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

    By Megan
    September 21, 2023
  • Australia’s economy: boom or bust?

    By Megan
    September 9, 2019
  • Australian economy suffers virus symptoms

    By Megan
    February 10, 2020
  • The stage is set for mining-led economic recovery

    By Megan
    December 1, 2020

Trending News

  • Commodities

    Deepcoin Labs Receives Crypto-commodities Trading Registration from DMCC & Launches $10 Million Fund

    “The Best Report Benzinga Has Ever Produced” Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! ...
  • Stock Shares

    Canopy Growth Corp Faces Decline in Shares Due to Stock Offering

    On September 21, 2023, Canopy Growth Corp (NASDAQ:CGC) experienced a decline in its shares, dropping by 6.7% to $0.81 during morning trading. The downward momentum was triggered by the company’s ...
  • Investment

    VanEck Semiconductor ETF (NASDAQ:SMH) Stake Raised by Zimmermann Investment Management & Planning LLC

    Zimmermann Investment Management & Planning LLC grew its holdings in shares of VanEck Semiconductor ETF (NASDAQ:SMH – Free Report) by 176.0% in the 2nd quarter, according to the company in ...
  • Investment

    Experts On The Future Of Investment Apps

    Ask most people what they picture when they think of stock trading and they will probably say things about Wall Street, men in suits yelling into phones and numbers flashing ...
  • Currencies

    Japan warns against post-Fed yen slide

    Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing Rights Japan won’t rule out any options vs yen – Matsuno ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.



    Input this code: captcha