Why Microsoft, Align Technology, and Intel Jumped Today

Friday was a blockbuster day on Wall Street, as earnings results from some of the largest technology companies in the market helped power the Nasdaq Composite Index to a gain of more than 2%. Those stocks' rises filtered out into the S&P 500 and Dow Jones Industrials as well, but to a somewhat lesser degree, with those benchmarks finishing the day up by less than 1%. Investors have been waiting to see if the companies that have been the big growth engines for the overall economy would start to misfire, but the news from this earning season so far appears just as good as it has been for the last several years now.

Microsoft (NASDAQ: MSFT), Align Technology (NASDAQ: ALGN), and Intel (NASDAQ: INTC) were among the best performers on the day. Below, we'll look more closely at these companies to tell you why their stocks did so well.

Shares of Microsoft jumped 7% in the wake of the release of its fiscal first-quarter 2018 results. The tech giant said that revenue climbed 12%, lifting net income by 16% as Microsoft's internal shift in emphasis continued to take hold. As CEO Satya Nadella said, "Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform." The company continued to see its customers seek to transform their digital presences to take advantage of new capabilities from the tech sector. Cash cows like the Office productivity suite kept showing solid performance, but huge gains like the near-doubling of revenue from Microsoft Azure pointed to the importance of the cloud for its future. So far, Microsoft has answered the call and found ways to take full advantage of cloud-related demand.

Continue reading

Source: Fool.com